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This slideshow is a great teaching and learning resource for introducing the chapter on foreign trade
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2. The purchasing by Irish people of foreigngoods and services is called Importing E.g. Ipods, Nokia Phones, Cars, Tropical Fruits 3. The selling of Irish goods and services toother countries is called exporting. Eg Selling of Irish beef in the UK. 4. Is between people in the same country whouse the same currency and language. E.g Buying a Mycro helmet 5. Is between people living in defferentcountries, whose currency and language maybe different. Eg The US and France 6. Ireland has an open economy i.e. it needs toimport and export goods and services.Foreign Trade is important because: 1. Two out of every 3 manufacturing jobs relate toexporting 2. Ireland exports over 70% of its production