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Username: Maria Rating:  Asked to: Anton Luyten Date Created: 01 May 2017 |
| Category | 17 |
| Tag | Financial |
| Question | Please give the definition of 'Fair Trade Price'. |
|
Hello Maria, Fair trade price is the minimum price paid for certain agricultural products imported from developing countries. Fair trade is a movement that believes it is unethical to pay producers in developing countries the market price if that price is too low to provide a sufficient quality of living. Instead, certain importers agree to pay producers in the developing world at least a minimum price for their goods. The goods are then imported to developed nations where they are promoted as fair trade products and, normally, sold at a higher price. |
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