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:
“a highly respectable gondolier,
Who promised the Royal babe to rear
And teach him the trade of a timoneer
With his own beloved brattling.”
—Sir William Schwenck Gilbert (1836–1911)
“Though in the trade of war I have slain men,
Yet do I hold it very stuff o’ the conscience
To do no contrived murder. I lack iniquity
Sometimes to do me service.”
—William Shakespeare (1564–1616)
“And trade is art, and art’s philosophy,
In Paris.”
—Elizabeth Barrett Browning (1806–1861)