Changes

'''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. The father of classical economics, [[Adam Smith]] said, "No one ever saw two dogs exchange one bone for another."

Trade is a vital characteristic that separates the [[human]] species from the [[animal]] world. [[Human being]]s are dependent on each other for their survival. Very few, if any, human beings fulfill their requirements for [[food]], housing, clothing and other necessities without trading with other human beings.<ref>Even the act of paying [[tax]]es by [[survivalist]]s who live "off the power grid", be it land or income taxes, is an act of trade between the landowner or homeowner and the [[government]], an exchange of [[money]] for defense, police protection, maintenance of roads, etc.</ref> 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 aggregate amount of trade between [[nation]]s via [[import]]s and [[export]]s, which may result in an imbalance, with one nation having a [[trade surplus]] and another having a [[trade deficit]]. Nations with large trade deficits are known as [[debtor nation]]s.   

 

== See also ==

== See also ==