This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.
ScanSolve AI Answer
Morning phathmul — let's get this done. 1. Define the term trade. Trade is the exchange of goods and services between two or more parties, often involving money as a medium of exchange. 2. Differentiate between fair and unfair trade? Fair trade* ensures producers, especially in developing countries, receive a fair price for their products, good working conditions, and sustainable practices. Unfair trade* involves exploitation of producers, low wages, poor working conditions, and often a lack of transparency, where the benefits are disproportionately skewed towards buyers or intermediaries. 3. How much was the Ghana farmers earned per day? The Ghana farmers earned as little as R2.00 per day. 4. What did the farmer do to receive more money from the cocoa farming? The farmers decided to process their cocoa beans into chocolate themselves instead of just selling the raw beans. 5. What is the brand name of the chocolate bars produced by Ghana farmers? The brand name of the chocolate bars is Dubble and Devine. 6. Mention THREE things that make this company a fair-trade company. Three things that make this a fair-trade company are: They used the money to pay better wages*. They built a school* so that their children can get a better education. They make sure that workers do not work very long hours* and keep the workplace safe. Send me the next one 📸