Trade
Trade is the transfer of ownership of goods and services from one person or entity to another by getting something in exchange from the buyer. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals (poles, coins), bill, paper money. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.
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Famous quotes containing the word trade:
“And there is no trade or employment but the young man following it may become a hero.”
—Walt Whitman (1819–1892)
“With respect to a true culture and manhood, we are essentially provincial still, not metropolitan,—mere Jonathans. We are provincial, because we do not find at home our standards; because we do not worship truth, but the reflection of truth; because we are warped and narrowed by an exclusive devotion to trade and commerce and manufacturers and agriculture and the like, which are but means, and not the end.”
—Henry David Thoreau (1817–1862)
“The Creator has not thought proper to mark those in the forehead who are of stuff to make good generals. We are first, therefore, to seek them blindfold, and then let them learn the trade at the expense of great losses.”
—Thomas Jefferson (1743–1826)