Trade: Definition and Explanation
Trade is the activity of buying, selling, or exchanging goods and services between individuals or countries. It forms the basis of economic interaction and facilitates the flow of products across regions and borders.
Key Aspects of Trade
- Involves the exchange of goods and/or services
- Occurs between people or nations
- Enables access to products not locally available
- Supports economic growth and specialization
"Trade is the activity of buying and selling, or exchanging, goods and/or services between people or countries."
Trade can take many forms, from local transactions between individuals to large-scale international agreements, impacting economies worldwide.
Trade connects producers to consumers and balances supply and demand, making it essential for market economies.
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