Trade and Development 01
Which system ensures poor farmers get a good price?

Trade and Development 01

This KS3 Geography quiz challenges you on trade and development. The development of a country from an LEDC to an MEDC relies on industrialisation. The economy of an LEDC usually relies on agriculture, which is a lot less profitable than trading manufactured goods. In order to increase its economy, a country needs to build up the amount of goods it sells to other countries. These are called exports. If a country exports more than it imports, it is said to have a trade surplus. If the opposite is true, it has a trade deficit. If a country relies on exporting just a few products and the market for those products collapses, it will suffer economically.

A trade tariff is a kind of tax that has to be paid on imports and exports. Countries negotiate to arrange deals on the tariffs for the goods that they sell to each other.

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The World Trade Organisation was established in the 1990s in order to help countries to sort out their trade tariffs. That doesn't always ensure that traders in LEDCs get a good price for their products, so some companies in MEDCs put fair trade agreements in place to make sure that it isn't just the government of an LEDC that benefits.

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  1. If a country's exports have greater value than its imports it has a what?
    The opposite is a trade deficit
  2. A country relying on just a few exports suffers what?
    It will be vulnerable to problems that may arise with those exports e.g. a fall in market value
  3. Set up in 1995, what is the WTO?
    It aims to promote trade and reduce trade barriers
  4. Which of these is a primary trading product?
    Primary products are raw materials and food
  5. What means all the services needed for industry?
    For example roads, electricity supply, water supply
  6. A payment that has to be made on imports and exports is usually called a what?
    Countries can negotiate special tariffs in order to promote trade between them
  7. What do the letters TNC mean?
    A large company based in more than one country e.g. Nike
  8. Which system ensures poor farmers get a good price?
    Some businesses in MEDCs see fair trade as being important
  9. Fair Trade began in 1993 with which crop?
    Cocoa beans are the raw material for chocolate
  10. Roughly what percentage of the cost of a jar of coffee goes to the bean growing country?
    This is low and not a good example of fair trade!

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