Fair Trade Flashcards
Fair Trade
Trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers.
Trade
The action of buying and selling goods and services.
Interdependent
(of two or more people or things) Dependent on each other.
Globalisation
The process by which businesses or other organisations develop international influence or start operating on an international scale.
Free Trade
International trade left to its natural course without tariffs, quotas, or other restrictions.
Primary Sector
The sector of the economy concerned with or relating to primary industry.
Secondary Sector
The sector of the economy concerned with or relating to secondary industry.
Tertiary Sector
The sector of an economy concerned with or relating to tertiary industry.
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.
Co-operative
A farm, business, or other organization which is owned and run jointly by its members, who share the profits or benefits.
Subsistence Farming
Self-sufficiency farming in which the farmers focus on growing enough food to feed themselves and their families.
Cash Crops
A crop produced for its commercial value rather than for use by the grower.
Import
Bring (goods or services) into a country from abroad for sale. A commodity, article, or service brought in from abroad for sale.
Export
Send (goods or services) to another country for sale. A product or service sold abroad.
Equity
The quality of being fair and impartial.