Ext. Definitions International Trade & Digital Revolution

Question 1

Define international trade

Answer 1

This refers to selling across borders i.e. the exchange of goods and services between countries

Question 2

Define logistics

Answer 2

Transportation of products

Question 3

Define trading bloc

Answer 3

A group of countries within a particular geographical region that protect themselves from imports from non-members

Question 4

Define emerging market

Answer 4

A term used to describe a country that is achieving rapid growth as well as industrialisation

Question 5

Define primary sector

Answer 5

Extraction of raw materials/farming

Question 6

Define secondary sector

Answer 6

Manufacturing of products using the raw materials obtained in primary sector

Question 7

Define tertiary sector

Answer 7

Selling and/or service

Question 8

Define Digital Revolution

Answer 8

Encompasses the shift from analog and mechanical technology to digital technology

Question 9

Define Information Age

Answer 9

A time when large amounts of information is widely available