ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes
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No
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Either A or B
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None of the above
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Detailed explanation-1: -Free trade is fair to businesses seeking to expand but it does not favor the rights of workers or seek to improve working conditions. Instead, free trade seeks to eliminate pay discrepancies (imbalances) from country to country. Meanwhile, fair trade promotes fair wages and working conditions for labourers.
Detailed explanation-2: -Fairtrade is about better prices, decent working conditions and fair terms of trade for farmers and workers in the developing world. The scheme ensures that commercial companies pay a minimum stable fair price for products.
Detailed explanation-3: -Fair trade makes the world a better place When you treat farmers and workers fairly, everyone benefits. Fair trade helps businesses source products that are ethically and sustainably produced while giving consumers confidence that the people behind the products they buy get a fair deal for their hard work.
Detailed explanation-4: -Fair Trade standards, according to Fair Trade USA include: The right to safe working condition. Sustainable production and farming practices. Improved working conditions. Better prices and wages for farmers and workers.