4.1.3 Trade patterns

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7 Terms

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Definition of patterns of trade

The countries a nation trades with and the types of products traded internationally.

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Types of products traded

Relative dependence on primary vs. manufactured vs. service sector exports.

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Emerging economies in trade

Nations using industrialisation to improve their output.

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Factor 1 changing patterns of trade

Comparative advantage.

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Factor 2 changing patterns of trade

Impact of emerging economies.

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Factor 3 changing patterns of trade

Growth of trading blocs.

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Factor 4 changing patterns of trade

Changes in relative exchange rates.