FairTrade is an economic agreement between More Economically Developed Countries (MEDCs) and Third World Countries, which ensures Third World producers get a better/fairer trade (hence the name)for their products.
Before FairTrade came into play, cocoa beans from Ecuador used to be 1p for a tonne, but now they are £100 per gram!
by makka92 March 19, 2007
When a manufacturer slightly increases what they paid a producer to allow them to greatly increase the price they charge you.
by camaris July 14, 2008
Used as a substitute for phrases such as "fair play", "fair enough" and "oh okay then". Also helps to promote Fair Trade foods.
by hezier April 14, 2005