fair trade
The term "fair trade" signifies a global initiative aimed at fostering equitable and sustainable trading practices, particularly benefiting producers in developing countries.
Definition
B2Global Trade
(social, economic)A movement and practice focused on ensuring fair prices, decent working conditions, and environmental sustainability for producers in developing regions.
Example
- Fair trade coffee ensures that farmers receive a fair price for their crops.
- The fair trade certification guarantees that the products were produced under ethical conditions.
B2Business Ethics
(ethical, sustainable)An ethical approach to business that prioritizes fair treatment of workers and sustainable practices alongside profit.
Example
- Many consumers choose fair trade products to support ethical business practices.
- Fair trade aims to improve the livelihoods of marginalized producers.
C1Certification Systems
(technical, regulatory)A system of standards and certifications that ensures products are made and traded according to fair trade principles.
Example
- The FAIRTRADE Mark is a common label indicating compliance with fair trade standards.
- Products with fair trade certification are often independently audited.
Similar
Terms that have similar or relatively close meanings to "fair trade":
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