Solution:North-South trade refers to trade between advanced industrialised nations of the "Global North" and less-developed economies of the "Global South."
The concept emerged in the 1970s during debates on global inequality, where the North consists of highly industrialised, high-income nations (like the US, Western Europe, Japan), and the South includes low-income, developing or underdeveloped countries in Asia, Africa, and Latin America.
This trade structure often reflects dependency, unequal terms of exchange, and structural constraints faced by developing economies.