Trade and Aid LO: To be able to explain the difference between trade and aid. 28/02/2016

WHAT IS TRADE? Trade :is the act or process of buying, selling, or exchanging commodities, at either wholesale or retail, within a country or between countries

Different kinds of trade: Free trade is a system in which goods, capital, and labor flow freely between nations, without barriers (like taxes)which could hinder the trade process. Fair Trade is a system of exchange that honors producers, communities, consumers, and the environment.

WHAT IS AID? Aid: It’s an assistance, mostly economic which is normally provided to distressed communities or underdeveloped countries for the enhancement of its socio-economic conditions.

WHAT ARE THE DIFFERENT KINDS OF AID? Bilateral Aid: it is an aid given from one country to another. Usually from a developed country to a developing country. Multilateral Aid: it is usually dispensed through international agencies like the World Bank or the International Monetary Fund. Programme aid: provided to accomplish tasks in specific sector. Emergency Aid : provided to tackle the emergency situations, like natural disasters.

Homework Aid between at least four different countries Trade between at least four different countries