TRADE AND DEVELOPMENT,TYPES OF TRADE-GEOGRAPHY GRADE11

TRADE-Refers to the exchange of goods and services for money,occurs as a result of uneven distribution of resources..*International Trade-refers to the exchange of goods and services between countries known as foreign trade it involves import and export of goods..*A TRADE SURPLUS-represent favourable trade balance*A TRADE DEFICIT-represent unfavourable trade balance*FREE TRADE-is an international trade without restrictions such as tariffs quotas*TRADE BARRIER-any regulation policy that restrict globally

TARIFTS-is a tax placed on imported goods,it adds to cost of imported goods,make the goods move expensive created to protests the local goods.*IMPORTED QUOTAS-is a restriction placed on the amount of a particular goods that can be imported.*SUBSIDE-financial assistance paid by the government sector of producers.