Trade & Fair Trade

Question 0

Why does trade occur?

Answer 0

No country has enough raw materials and manufactured products to be self-sufficient

Question 1

What is trade?

Answer 1

The exchanging of goods and services between countries

Question 2

What are some things the UK imports?

Answer 2

Bananas, oil, fish, cotton and rubber

Question 3

What is the name for countries that trade with others?

Answer 3

Interdependent

Question 4

What are goods and services bought by countries called?

Answer 4

Imports

Question 5

What are goods and services sold by countries called?

Answer 5

Exports

Question 6

What is the difference between a country’s imports and exports known as?

Answer 6

Balance of trade

Question 7

If a country exports more than it imports, it is said to have a _____

Answer 7

Trade surplus

Question 8

If a country imports more than it exports, it is said to have a ______

Answer 8

Trade deficit

Question 9

What does LEDCs stand for?

Answer 9

Less Economically Developed Countries

Question 10

What does MEDCs stand for?

Answer 10

More Economically Developed Countries

Question 11

Why is coffee grown in LEDCs?

Answer 11

It needs warmth and moisture

Question 12

What is coffee in LEDCs?

Answer 12

Cash Crop

Question 13

Where is most coffee drunk?

Answer 13

MEDCs

Question 14

Who gets the most money from a cup of coffee?

Answer 14

The roasters & processors in MEDCs

Question 15

What are the top three coffee growing countries?

Answer 15

1-Brazil
2-Columbia
3-Vietnam

Question 16

Who gets money from a cup of coffee?

Answer 16

1-Roasters & producers
2-Café
3-LEDC traders/exporters
4-Shippers
5-Growers

Question 17

What is a primary product?

Answer 17

Unmanufactured products

Question 18

What is a secondary product?

Answer 18

The final manufactured product

Question 19

The price of coffee will _______ on the World Market

Answer 19

Fluctuate

Question 20

What makes the price go up?

Answer 20

High demand & low supply

Question 21

What makes the price go down?

Answer 21

Low demand & high supply

Question 22

When was Fair trade set up?

Answer 22

1986

Question 23

What must a farmer do to receive Fair trade?

Answer 23

Treat his workers well, look after the environment and help develop the area

Question 24

Why do people buy Fair trade?

Answer 24

They want to help the farmers