Trade

Question 1

Aurtarky

Answer 1

No trading with any country- ie self sufficient

Question 2

Globalisation

Answer 2

Globalization (or globalisation) is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.

Question 3

Global supply chain

Answer 3

A company buys components from different countries, then assembles them together

Question 4

Surplus

Answer 4

What is left over after your own needs are met

(Goods and services) usually not money

Question 5

Expenditure

Answer 5

Spending of money on goods+services

Question 6

Tariff

Answer 6

Tax on imports

Question 7

Consumption

Answer 7

Buying + using goods +services

Question 8

Sovereignty

Answer 8

The ability to be able to make laws in your own country

Question 9

Fair trade

Answer 9

Product didn’t use child labour or sweatshops to make products
Or
Producers receive a higher price for their product and receive the fair trade premium

Question 10

Trade

Answer 10

Trade involves the transfer of the ownership of goods or services from one person or entity to another in exchange for other goods or services or for money. Possible synonyms of “trade” include “commerce” and “financial transaction”. A network that allows trade is called a market.