Trade Flashcards
What does imports mean?
Imports are the goods a country buys.
What does trade mean?
Trade is the movement and scale of goods/ materials between counties all over the world. It is how a country becomes wealthy.
What is trade deficit?
When a country doesn’t earn enough money to buy goods for the country.
What is trade surplus?
When a country earns more money than it needs, having money left over.
What is the world bank?
The world bank is a joint bank owned by governments of over 180 countries, set up to provide loans for development
What is irrigation?
The artificial supply of water to plants.
What is trade liberalisation?
Trade liberalisation (Free Trade) is a type of trade policy that allows traders to act and transact without interference from government.
What is development?
The process of change or growth in a place- it should improve people’s lives
What is crop rotation?
Constantly changing the crop grown on a piece of land so that the nutrients are being replaced.
Why is trade often unfair?
Trade is often unfair as the farmers that supply do not get the right amount of money they deserve.
What is exploitation?
When companies don’t treat the farmers fairly in order to benefit from their own work.
What is colonialism?
When a country takes over another country/ land (colonise). Usually it is the richer country taking over a poor country.
What does eco friendly mean?
To be friendly to the environment, not to harm it in any way.
What is an industrialists?
A person involved in the ownership and management of an industry.
What is fairtrade?
Fair trade is a movement which tries to help people who make things in developing countries. It people to work in better conditions and get more money for what they make.
