ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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fair trade
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maquiladora movement
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sustainability initiative
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World Trade Organization
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Detailed explanation-1: -“Fair Trade is a trading partnership, based on dialogue, transparency and respect, that seeks greater equity in international trade. It contributes to sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers – especially in the South.
Detailed explanation-2: -Fairtrade provides disadvantaged farmers and workers with better prices for their crops. This gives them an opportunity to improve their lives and plan for their future. Farmers receive a stable price even when the market drops. Workers are guaranteed a good wage and safe working conditions.
Detailed explanation-3: -Fairtrade aims to tackle the injustices of conventional trade and ensure that their farmers have decent working conditions and prices for the crops they grow. Fairtrade encourages farmers to negotiate the best, fairest prices for their efforts and feel in control of selling their crops.
Detailed explanation-4: -It all started in the United States, where Ten Thousand Villages (formerly Self Help Crafts) began buying needlework from Puerto Rico in 1946, and SERRV began to trade with poor communities in the South in the late 1940s. The first formal “Fair Trade” shop which sold these and other items opened in 1958 in the USA.