The document discusses importing, exporting, domestic trade, and foreign trade. Importing is when Irish people purchase foreign goods and services, like iPods or cars. Exporting is when Irish goods and services, such as beef, are sold to other countries. Domestic trade occurs within one country using the same currency and language, while foreign trade between countries can involve different currencies and languages. Foreign trade is important for Ireland's open economy as over 70% of its production is exported and two-thirds of manufacturing jobs relate to exports.

2.  In Notes write down list of items you use
everyday.
 Where are these items produced?

3.  The purchasing by Irish people of foreign
goods and services is called Importing
◦ E.g. Ipods, Nokia Phones, Cars, Tropical Fruits

4.  The selling of Irish goods and services to
other countries is called exporting.
◦ Eg Selling of Irish beef in the UK.

5.  Is between people in the same country who
use the same currency and language.
◦ E.g Buying a Mycro helmet

6.  Is between people living in defferent
countries, whose currency and language may
be different.
◦ Eg The US and France

7.  Ireland has an open economy i.e. it needs to
import and export goods and services.
Foreign Trade is important because:
1. Two out of every 3 manufacturing jobs relate to
exporting
2. Ireland exports over 70% of its production