Difference between revisions of "Trade"
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'''Trade''' in its simplest form is the exchange of [[goods]] and [[services]] between peoples. | '''Trade''' in its simplest form is the exchange of [[goods]] and [[services]] between peoples. | ||
| − | Trade is vital characteristic that separates the [[human]] species from the [[animal]] world. [[Human being]]s are dependent upon other human beings for their survival. Very few, if any, human beings fulfill their need for [[food]], housing, clothing and other necessities and requirements without trading with other human beings. | + | Trade is vital characteristic that separates the [[human]] species from the [[animal]] world. [[Human being]]s are dependent upon other human beings for their survival. Very few, if any, human beings fulfill their need for [[food]], housing, clothing and other necessities and requirements without trading with other human beings. The father of classical economics, [[Adam Smith]] said, "No one ever saw two dogs exchange one bone for another." |
[[Economists]] would extend the definition to include the act of [[import]]ing and [[export]]ing, or trade between [[nation]]s. Trade figures are calculated by the quantity or value of exports and/or imports. | [[Economists]] would extend the definition to include the act of [[import]]ing and [[export]]ing, or trade between [[nation]]s. Trade figures are calculated by the quantity or value of exports and/or imports. | ||
Revision as of 13:06, June 23, 2024
Trade in its simplest form is the exchange of goods and services between peoples.
Trade is vital characteristic that separates the human species from the animal world. Human beings are dependent upon other human beings for their survival. Very few, if any, human beings fulfill their need for food, housing, clothing and other necessities and requirements without trading with other human beings. The father of classical economics, Adam Smith said, "No one ever saw two dogs exchange one bone for another."
Economists would extend the definition to include the act of importing and exporting, or trade between nations. Trade figures are calculated by the quantity or value of exports and/or imports.