definitions Flashcards
definition: tourist
a person who is travelling or visiting a place for pleasure.
definition: GDP
Monetary value of final products and services gross domestic product
definition:trade
the action of buying and selling goods and services.
definition: supply chain
the sequence of processes involved in the production and distribution of a commodity.
definition: sweatshop
a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions.
definiton: consumers
a person who purchases goods and services for personal use.
definition: trade barrier
A trade barrier refers to any regulation or policy that restricts international trade, especially tariffs, quotas, licences etc.
definition: FTA
FREE TRADE AGREEMENTS. FTAs are treaties between two or more countries designed to reduce or eliminate certain barriers to trade and investment, and to facilitate stronger trade and commercial ties between participating countries.
definiton: import
bring (goods or services) into a country from abroad for sale.
definition: export
send (goods or services) to another country for sale.
