Glossary Flashcards
Cash Crop
A crop which is grown to be sold rather than to be used by the farmer
Subsistence Crop/Farming
A crop which is grown to be used (by the farmer) and not sold
Developing Country
A country which has a less developed industrial base and Human Development Index
Developed Country
A country which has a highly developed economy and advanced technological systems and services (infrastructure)
Co-operative
A business owned and governed democratically and directly by farmers themselves. Decisions are based on how the co-operatives resources can be best used to improve the lives of each family and the community as a whole
Trade
The exchange of goods and services
Globalisation
Removal of borders and boundaries, making connections with other nations and their markets
Primary Sector
Includes the extraction and harvesting of products from the earth. Eg. farming
Secondary Sector
Includes the manufacturing of finished goods. Eg. changing wool into clothes
Tertiary Sector
Includes services provided to the general population or businesses. Eg. transportation
Fairtrade
The trade between producers in Less Economically Developed Countries (LEDCs) and companies in More Economically Developed Countries (MEDCs) where the producers gain a fairer price.
Interdependent
Two or more people or things reliant on each other
Free Trade
International trade without restrictions
Sweatshop
A factory or workshop where workers are employed at very low wages for long hours under poor conditions
Import
To bring goods into a country from aboard for sale
