Trade Flashcards
(25 cards)
Why do ppl trade?
They need or want goods or services that they do not have
What does trade mean?
Exchange of goods or services in return for something else
What is global trade?
Buying and selling between countries
What does exports mean?
Countries sell the things they produce
What does imports mean?
Countries buy the things they need
What does the government try have more of; imports or exports?
Exports
Why does the government try export more than it imports?
To have money for things like building schools and running hospitals.
What does SA import? (4)
- petroleum products
- scientific instruments
- machinery and equipment
- chemicals
(SCEMP)
What does SA export?
- machinery & equipment
- other materials & minerals
- platinum
- diamonds
- gold
(DiG POEM)
What is economic activity?
The work that ppl do in a country
What are primary products?
Raw materials produced from activities such as farming, forestry, fishing and mining. (FFFM)
e.g. fish, fruit, wood, minerals
What are secondary products?
Products made from raw materials
e.g. canned fish, fruit juice, wooden furniture, cars
What do you need in order to manufacture products?
- raw materials
- technology and equipment
- ppl with skills and knowledge to make things
What are resources?
Things that ppl use to live
List 4 resources?
- water
- minerals
- human skills
- labour
Do resources have value and what does the value of something mean?
Yes, the value is what it’s worth. The value is the price or money that is paid for something
Why do secondary products have more value than primary products?
because they are manufactured. Manufactured goods can be sold for more money than raw materials.
How is chocolate manufactured?
- cocoa beans grow on trees
- pick, roast and shell cocoa beans
- squash beans to make cocoa butter
- crush sugarcane to make sugar
- heat and thicken cows milk
- pick, roast & shell nuts
- mix cocoa butter beat to make smooth
- add nuts
- pour mixture into moulds until set
- wrap chocolate in paper and foil to keep fresh
- bars are transported all over the world for sale
Why does gold have great value?
- soft, can be shaped easily into coins and jewelry
- difficult to mine
- long lasting, doesn’t rust, not easily destroyed or worn down so keeps value
- used in electrical goods e.g. computers
Name 1 reason why ppl earn different amounts in different countries.
earnings depend on what ppl or countries are able to produce, manufacture or trade
How are poor ppl exploited in the work place?
- overworked
- underpaid for work done or things sold
- treated badly
What is Fairtrade?
organisation that helps farm producers in developing countries get better deals in the working and selling of their products
What roles does the organisation have?
- demand that companies pay better prices that must never fall below the market price
- assist farmers by setting up groups that work together =co-operatives
- companies that sell products in a fair way are allowed to use the Fairtrade logo. so ppl know they are buying products that have been made without exploiting ppl.
Where do most of the primary products come from to make chocolate?
Ghana, Nigeria, Cote D’Ivoire
