Glossary - Fair Trade Flashcards
Trade
The action of buying and selling goods and services
Fair Trade
Producers are paid a “fair” price for their products
Interdependent
One or more people of things dependent on each other
Globalisation
It involves the removal of boundaries and borders around the world and making connections with other nations and their markets
Free Trade
International trade without restrictions
Primary Sector
This includes the extraction and harvesting of products from the Earth. E.g. farming, fishing, mining
Secondary Sector
The manufacturing of finished goods. E.g. turning wood into furniture, wool into clothes
Tertiary Sector
Servies provided to the general population, or businesses. E.g. transportation, restaurants
Sweat Shop
A factory or workshop that is usually to do with the clothing industry, where people are employed at very low wages for long hours and poor conditions
Co-Operative
Involving mutual assistance in working towards a common goal
Subsistence Farming
Self-sufficient farming in which the famers focus on growing enough food to feed themselves and their families
Cash Crops
Crops grown to be sold. E.g. coffee, sugar, tea
Import
Bringing goods or services into a country from abroad to be sold
Export
Sending goods and services into a country from abroad to sell
Equity
The quality for being fair and impartial
