Trade Flashcards
(4 cards)
1
Q
Why do countries trade? (3)
A
Can easily exploit other countries
Access scarce resources and goods
Economic growth
2
Q
Who trades what? (4 steps)
A
LICs produce low value goods—> HICs buy them and make them into higher value goods—> export high value goods to LICs for a high price —> the rich get richer, the poor get poorer
3
Q
What is the role of the shipping container in world trade? (5)
A
Same size (20ft and 40ft)
Speeds up transport
Boats,trucks,trains,ships have all been built to carry containers
Cheaper (less that 1% of the cost is transportation)
less labour needed
4
Q
How is trade unfair?
A
The rich get richer, the poor get poorer
