Trade
Definition
Trade refers to the buying, selling, or exchange of goods or services between individuals or countries. It involves the transfer of goods from producers (sellers) to consumers (buyers) through various means such as transportation routes.
Analogy
Think of trade like going shopping at a mall - you have different stores selling different products, and you can buy what you need from them. Just like how people trade money for clothes or electronics at a mall, trade involves exchanging one thing for another.
Related terms
Silk Road: An ancient network of trade routes connecting East Asia with Europe. It played a crucial role in facilitating cultural exchange between civilizations.
Mercantilism: An economic system popular during the Age of Exploration where nations sought to increase their wealth and power by exporting more than they imported.
Triangular Trade: A system of trade between Europe, Africa, and the Americas during the 16th to 19th centuries. It involved the exchange of goods, slaves, and resources.
"Trade" appears in:
Practice Questions (7)
Which city became a major center for trade and art during the Northern Renaissance due to its central location and river access?
Which city became a major center for trade and wealth during the Northern Renaissance?
What commodity did Portugal primarily trade during its Golden Age of exploration?
Which Portuguese explorer's route around Africa enabled trade between Europe and Asia without going through Middle East intermediaries?
Which invention during the Industrial Revolution significantly improved transportation and impacted trade and travel throughout Europe?
Which treaty signed in 1885 formalized European colonization and trade in Africa during the New Imperialism period?
Who were the major competitors to the Dutch during their Golden Age in trade and seafaring?
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