global fashion business Flashcards
(23 cards)
Trade
The movement of goods & services around the world
Pesticides
Chemicals sprayed onto crops to kill insects which would damage the crop
Fertilisers
Chemicals sprayed onto crops to add extra nutrients
Herbicides
Chemicals sprayed onto crops to kill weeds which would compete with the crop
Supply chain
The different jobs & stages needed to make a finished product.
Globalisation
The way that people are interconnected around the world by trade.
Raw material
The ingredients needed to make something
Primary jobs
Jobs like farming or mining. Like a coltan miner in the DRC in Africa.
Secondary jobs
Jobs making something in a factory. Like a person stitching a pair of jeans in a factory in Algeria, Africa.
Tertiary jobs
Jobs which provide a service. Like a shop worker in Sheffield.
Free Trade
When any country can trade with any other country without restrictions.
Fair Trade
When the producer is paid a fair or reasonable price for their work or the things they make or grow.
Law of supply & demand
A rule of business. Rare things that lots of people want, like diamonds are expensive but common things which are less popular, like bananas are cheaper.
Trans-national company
A company like H&M who have shops/offices/factories all over the world.
Manufactured items
Things which have been made in a factory, like a pair of jeans, usually higher value items.
Primary goods
Things which are grown or dug out of the ground, usually lower value items.
Fast fashion
This is where there is an endlessly changing number of styles in fashion so producers have to make the clothes very quickly.
WTO
World Trade Organisation- the people who make & enforce the rules of world trade.
Producers
People who make things, like a worker in a Bangladesh clothing factory.
Consumers
People who use up things, like us buying school uniform made in Vietnam
Retail
Shops
Rana Plaza
A garment factory that collapsed in Bangladesh in 2013 killing 1200 people
Sustainable
Doing things in a way which does not harm people or the environment today and the future
