B/ Collocations with ‘trade'.
1. Use words from the following and collocate them with the word ‘trade'. Then match these collocations with the explanations given:
Union - policy - balance – floor –volume - surplus – Jack – terms – tourist – blocks – retail –fair – free – off
a) tourist trade : business done by hotels
b) balance of trade : the difference between the monetary value of exports and imports of output in an economy over a certain period.
c) trade union : organization of workers whose goal is to defend the interests of its members.
d) Volume of trade : the total of goods traded during a given period of time.
e) trading floor: the area of an exchange where securities are bought and sold, e.g. in a stock market.
f) trade surplus: This occurs when the value of a country's exports is greater than the value of its imports.
g) trade policy : Any policy affecting international trade, including especially tariffs and nontariff barriers.
h) jack of all trades : a person able to do a variety of different jobs acceptably well.
i) the terms of trade (TOT): The price of a country's exports relative to the price of its imports.
j) retail trade : stores that sell directly to consumers
k) trading blocks : Nations belonging to a mutual trade pact agreeing to give each other reduced trade tariffs and other accommodations while imposing trade barriers and restrictions to nonmember nations.
l) fair trade : trade that is conducted legally.
m) free trade : International trade, which is neither restricted nor encouraged by direct government intervention.
n) trade-off: an exchange that occurs as a compromise involving losing one quality or aspect of something in return for gaining another quality or aspect.
