International Trade

Question 1

What is trade

Answer 1

The buying and selling of goods and services we want or need.

Question 2

Interdependent country

Answer 2

Trades with other countries.
They rely on each other for certain goods.

Question 3

Balance of trade

Answer 3

The difference between imports and exports

Question 4

Trade defecit

Answer 4

Spending more on imports than is earned on exports

Question 5

Trade surplus

Answer 5

Earning more on exports than is spent on imports

Question 6

Imports

Answer 6

Goods that are brought by one country to other countries

Question 7

Exports

Answer 7

Goods that are sold by one country to other countries

Question 8

MEDCs

Answer 8

Exports Imports
- manufactured goods - raw materials
- expensive - primary products
- hight value
Eg cars

Question 9

LEDCs

Answer 9

Import Exports
- manufactured goods. - Raw materials eg gold, diamonds
- primary products eg bananas coffee
- cheap and low value

Question 10

Commodity

Answer 10

• Something thats grown or mined from the earth
• It is traded on the world marked
  Eg: coffee

Question 11

Cash crop

Answer 11

A crop people grow mainly for export
Eg: coffee

Question 12

Coffee producing countries

Answer 12

Brazil
Columbia
Vietnam
Indonesia
India
(Mainly South America)

Question 13

How fair trade benefits farmers

Answer 13

• Offers a fair price for the coffee
• Some of the money is payed in advance, before the coffee is harvested, so the farmers don’t run short

Question 14

Fair trade products

Answer 14

Bananas
Chocolate
Coffee
Cotton
Gold