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Year 8 - Geography

The importance of trade

Globalisation: Is the world shrinking?

Unit Summary

This unit introduces pupils to the concept of globalisation and develops their understanding of how people and places are connected through economics and culture. Pupils will evaluate how the benefits and challenges brought by globalisation differs over global space.

Lesson Summary

You will learn to explain what trade is and why countries trade with each other.

Key Notes

Global trade involves exporting goods from one country and importing them to other countries.
Commodities are raw materials which can be bought and sold.
Manufacturing uses raw materials to make other goods for sale.
Import and export data can be used to show the types and amounts of things that countries trade around the world.

Vocabulary To Learn

trade: the buying, selling or exchanging of things between people, companies and countries
import: goods and services brought in from another country
export: goods and services sold to another country
tax: money that is paid to the government to pay for things like schools and healthcare

Common Mistakes To Avoid

You can only trade goods.

3 Quick Questions (With Answers)

1. Explain this geography topic using two clear key points.

Global trade involves exporting goods from one country and importing them to other countries. Commodities are raw materials which can be bought and sold.

2. Define this geography term and use it in an example. 'trade'

the buying, selling or exchanging of things between people, companies and countries.

3. Correct this common geography misunderstanding.

Mistake: You can only trade goods. Correction: You can trade goods and services such as education and finance services.

More Lessons In This Unit

Browse all guides in the Year 8 Geography guide library.