Trade Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

Why do ppl trade?

A

They need or want goods or services that they do not have

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What does trade mean?

A

Exchange of goods or services in return for something else

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is global trade?

A

Buying and selling between countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What does exports mean?

A

Countries sell the things they produce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What does imports mean?

A

Countries buy the things they need

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What does the government try have more of; imports or exports?

A

Exports

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Why does the government try export more than it imports?

A

To have money for things like building schools and running hospitals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What does SA import? (4)

A
  • petroleum products
  • scientific instruments
  • machinery and equipment
  • chemicals
    (SCEMP)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What does SA export?

A
  • machinery & equipment
  • other materials & minerals
  • platinum
  • diamonds
  • gold
    (DiG POEM)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is economic activity?

A

The work that ppl do in a country

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are primary products?

A

Raw materials produced from activities such as farming, forestry, fishing and mining. (FFFM)
e.g. fish, fruit, wood, minerals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are secondary products?

A

Products made from raw materials

e.g. canned fish, fruit juice, wooden furniture, cars

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What do you need in order to manufacture products?

A
  • raw materials
  • technology and equipment
  • ppl with skills and knowledge to make things
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are resources?

A

Things that ppl use to live

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

List 4 resources?

A
  • water
  • minerals
  • human skills
  • labour
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Do resources have value and what does the value of something mean?

A

Yes, the value is what it’s worth. The value is the price or money that is paid for something

17
Q

Why do secondary products have more value than primary products?

A

because they are manufactured. Manufactured goods can be sold for more money than raw materials.

18
Q

How is chocolate manufactured?

A
  1. cocoa beans grow on trees
  2. pick, roast and shell cocoa beans
  3. squash beans to make cocoa butter
  4. crush sugarcane to make sugar
  5. heat and thicken cows milk
  6. pick, roast & shell nuts
  7. mix cocoa butter beat to make smooth
  8. add nuts
  9. pour mixture into moulds until set
  10. wrap chocolate in paper and foil to keep fresh
  11. bars are transported all over the world for sale
19
Q

Why does gold have great value?

A
  • soft, can be shaped easily into coins and jewelry
  • difficult to mine
  • long lasting, doesn’t rust, not easily destroyed or worn down so keeps value
  • used in electrical goods e.g. computers
20
Q

Name 1 reason why ppl earn different amounts in different countries.

A

earnings depend on what ppl or countries are able to produce, manufacture or trade

21
Q

How are poor ppl exploited in the work place?

A
  • overworked
  • underpaid for work done or things sold
  • treated badly
22
Q

What is Fairtrade?

A

organisation that helps farm producers in developing countries get better deals in the working and selling of their products

23
Q

What roles does the organisation have?

A
  • demand that companies pay better prices that must never fall below the market price
  • assist farmers by setting up groups that work together =co-operatives
  • companies that sell products in a fair way are allowed to use the Fairtrade logo. so ppl know they are buying products that have been made without exploiting ppl.
24
Q

Where do most of the primary products come from to make chocolate?

A

Ghana, Nigeria, Cote D’Ivoire

25
Q

List the main people/groups involved in making a bar of chocolate (5)

A
  • farmers of primary products
  • government of the country that primary products come from
  • company that makes chocolate
  • shop owner that sells choc
  • government of the country in which the choc is sold