Trade Flashcards
Who are our main imports from?
China
USA
Japan
Who are our main exports?
China
Japan
Korea
What goods do we import
Personal motor vehicles
Crude petrol
Refined petrol
Goods we export
Iron
Coal
Gold
What are imports
Goods and services purchased from an overseas seller and sold in Australia.
What is exports
Goods and services produced in Australia and purchased by overseas countries
Define tariff
A tax that is paid on imported goods. Tariffs make imports more expensive, discouraging purchasing imported goods.
Define trade
Trade is the exchange of goods and services between nations. Means of trade include, importing and exporting goods and services.
What are multi nationals
Multinationals are organisations that operate in more than one country. Their head office is based in one country but they have other branches based in other countries. Eg. Maccas, coke, Apple
Why are multinationals growing
Competition between countries for trade has intensified in recent years which has caused the rate of multinational companies to grow.
What is fair trade
Fair trade advocates for ethical better working conditions. In particular working conditions from the production of goods and services in developing countries.
