Being globally minded

 My blog - Being globally minded

1. Write your understanding of the key concepts for this topic:

Economy:

 is the way that people use the money carefully, the way that services can be sold in other countries around the world. An example for the economy is the stock master system. I know four different types of economies like the pure market economy, the pure command economy, the traditional economy and the mixed economy.

Trade: 

 is a basic concept of buying and selling of goods and services which have been paid by the buyer or the seller or the exchange of goods and services between parties. Trade is a way you can make a living or the act of exchanging another example for trade would be like the tea trade where tea is imported by china and purchased in the U.S, trade is kind of like when you make one thing made out of so many things from other countries around the world 

Globalisation:

is a type of interaction with people, companies, and the governments worldwide. Globalisation is a process by which people  move simply across the borders. Some examples of globalisation are the food industries, banking industries, and technological growth on a worldwide scale. Globalisation isn't only just an exchange of goods but can also be an exchange of ideas between others.

2. Add a report on the NZ Export Product you researched this term 

This term in social studies one of the topics that we had to do was the NZ Export Products, basically what it is trading things between countries that could make some things that Dairy products, meat, logs and wood products, fruit, machinery and equipment, wine, fish and seafood and many more things. Why? Because the New Zealand dollar is the 10th-most traded currency in the world. 

What does it mean? 

The foundation of New Zealand's economy is exporting agricultural commodities such as dairy products, meat, forest products, fruit and vegetables, and wine. Dairy is the lead export commodity. In 2020, New Zealand exports to the U.S. totalled $4.2 billion, approximately 10 of New Zealand's total exports. 😀