Fair Trade Flashcards
Fair Trade
Trade between developed country’s companies and developing country’s producers in which the producers are paid fairly
Trade
The action of buying and selling goods
Interdependent
Mutual dependence between two things
Globalisation
Involves the removal or borders and boundaries around the world and making connections with other nations and their markets
Free Trade
International trade without quota’s, taxes, etc
Primary Sector
This includes extraction and harvesting of products from the earth.
Eg, farming forestry, fishing and mining
Secondary Sector
This includes the manufacturing of finished goods.
Eg, turning wool into clothes, turning woods into furniture
Tertiary Sector
This includes services provided to the general population and business
Eg, transportation, banking, media or restaurants
Sweatshop
Factories or workshops where workers are paid poorly and work in bad conditions
Co-operative
A farm, business, etc, which is owned and run jointly by its members
Subsistence Farming
Where farmers grow crops only to feed themselves and their family
Cash Crops
A farm solely focused on growing crops for money
Import
Bring goods or services into a country from abroad for sale
Export
Send of goods or services to another country for sale
Equity
The quality of being fair or impartial
