Trade

Question 1

who do we import/export to

Answer 1

china
japan
usa

Question 2

what goods/services do we import

Answer 2

energy

manufactured goods

Question 3

what goods/services do we export

Answer 3

agriculture
forestry
fisheries

Question 4

trade

Answer 4

includes any activity where income is made from goods/services. Trade generally refers to the importing or exporting of goods/ services.

Question 5

tariff

Answer 5

a tax imposed on imported goods and services. Tariffs are often used to restrict trade

Question 6

what are multinational companies

Answer 6

Companies operate in several countries for a number of reasons, but most often it is to increase profits.

Question 7

why are they growing

Answer 7

the minimisation of labour costs by moving to low-wage countries for production
a greater access to natural resources than would be available in the country of origin
the desire to minimise transport and storage costs
have developed products that are popular