Trade
Definition
Trade involves the buying and selling of goods or services between individuals or groups within or across geographical boundaries.
Analogy
Picture trade as a giant global marketplace where people from different regions come together to exchange goods and services. It's like an enormous virtual shopping mall that operates 24/7, connecting buyers and sellers worldwide.
Related terms
Silk Road: The Silk Road was an ancient network of trade routes that connected the East and West, facilitating the exchange of goods, ideas, and cultures.
Caravan: A caravan refers to a group of travelers, often merchants or traders, journeying together through dangerous or remote areas for protection during long-distance trade expeditions.
Mercantilism: Mercantilism is an economic theory that emphasizes accumulating wealth through exports while restricting imports in order to maintain a favorable balance of trade.
"Trade" appears in:
Practice Questions (13)
How did the Mongol Empire influence trade during its rule?
What important cultural exchange occurred due to trade within Dar al-Islam between countries in Asia and Africa from 1200-1450?
Which innovation greatly increased trade in Southeast Asia between 1200 to 1450?
Which Italian city-state became a major center for trade and finance during the late Middle Ages?
How did the Mongol Empire's Pax Mongolica influence trade during the period 1200-1450?
How did the Crusades impact trade along the Silk Road?
What role did technological advancements play in enhancing trade on the Trans-Saharan routes?
What was a common environmental impact of trade during the Industrial Revolution?
Which impact of Mongol rule facilitated trade along the Silk Road from 1200-1450?
What innovation revolutionized transportation and trade during the early Industrial Revolution?
Which technological innovation had a significant impact on trade during the period 1200-1450?
Which invention improved communication and expedited trade during the period of 1200-1450?
How might Qing China's relations with European powers be different if Emperor Qianlong had agreed to open up trade further in the 18th Century?
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