Trade Is The Standard Of Goods And Services For Money

Trade is the transaction of buying or selling of goods and services from one country to another. Because of trade, international consumers now have a wide assortment of products placed directly in front of them that their region cannot provide. For instance, one can walk around the Bronx and come to the zoo where there will be a giraffe from South Africa showcased for all to see. There are no safari like animals such as the giraffe freely roaming around America. This is all possible due to the trading system that has been

People will engage in a trade, if both parties think that the benefit will outweigh the cost so that is when the trade occurs. If both parties do not believe in that they will not benefit from the trade, then the trade will not occur. A trade does not happen unless both parties think they will win. Trading created wealth in reality, so the benefits outweigh the cost. (pg 20)

“Karl Polanyi, a historical anthropologist at Comlumbia University, argued that market economies, private profit seeking, and capitalism were a peculiar and unnatural way of structuring an economy.”(The Worlds History, Spodek, ch.12, p.375) Polanyi also discussed how back in ancient times, trading was meant to provide and benefit the whole society, not personal benefit like the free market economy was. Another historian, Philip Curtin, agreed with Polanyi is many ways; except that there was historical proof there was individual, personal trading going on in ports and throughout long distance routes back in the earliest times. (The Worlds History, Spodek, 2001, Ch. 12)

From 120 BCE to the 16th century, trade was a remarkable part of the Eastern Hemisphere. It played a vital role in the kingdoms and city-states that made up all of what the 21st century calls Europe, Asia, and Africa. Trade was critically important in this time period because of the diverse climate that was scattered all across the continent. Due to the climate, every location had different resources that were provided by nature. Without specific resources, specific goods could not be manufactured. Not only that, but since technology was not as advanced as it is now, specific products were not able to exist in areas. The only way to obtain those products was to trade. Two of the many routes that a merchant could use to trade were the Silk Road and the Sea Roads along the Indian Ocean. Of those two roads, the Indian trade route had the most positive impact around the world. It facilitated the trading of mass goods since rather than using animals to transport goods, they used boats. It also provided a type of wind known as Monsoon wind that merchants could benefit from. Finally, the Indian Ocean trade route stretched out at a greater distance than the silk road, which impacted the goods that could be traded. Overall, the Indian Ocean trade route had the best impact in the Eastern Hemisphere and even the world.

1. Long-distance commerce acted as a motor of change in pre-modern world history by altering consumption and daily life. Essential food and useful tools such as salt were traded from the Sahara desert all the way to West Africa and salt was used as a food preserver. Some incenses essential to religious ceremonies were traded across the world because there was a huge demand for them. Trade diminished economic self-sufficiency by creating a reliance on traded goods and encouraged people to specialize and trade a particular skill. Trade motivated the creation of a state due to the wealth accumulated from controlling and taxing trade. Trade posed the problem of if the government or private

Supported by documents 2, 5, and 7, this statement is very unambiguous. Written towards the beginning of the Islamic faith, in 620-650 CE, document 2 is from the Muslim point of view and the document believes the two and only then will their transaction be blessed. During this time, merchants and trade were highly valued and shown a great deal of respect. The main reason for this belief is the Prophet Muhammad. Islam is based on the teachings of Muhammad so therefor; Muhammad is highly worshiped and looked upon on. The reason that merchants are dear to Muslims is because Prophet Muhammad as well as his wife, Khadija, are born Muslims, thus causing Muslims to appreciate merchants. However, as time goes on, it is noticeable that the respect will be lowered. In addition to document 2, document 5 is written by Ibn Khaldun, a leading Muslim scholar during the fourteenth century. Document 5 describes how it is sometimes necessary to transport goods to a place where they are more keenly demanded and therefore fetch a much higher price for them. As seen, people of both religions grew greedier over time and traded unfairly just to make a higher profit. Also in document 5, the scholar mentions that, “As for trade, although it be a natural means of livelihood, yet most of the methods it employs tricks aimed at making a profit by securing the difference between the

Communication was a key aspect of trade during the Tang and Song dynasties and allowed societies to trade under well-regulated understanding. Ibn Jubayr states in document nine that there were massive amounts of trading amongst the wealthy such as gold, fruits, and perfume which was a important mark of developing cosmopolitan society. The wealthy societies began to trade with other societies who had more goods that were exotic to their civilization. In document six, the Hsin-t'ang-shu further explains how the wealthy acquired valuables which led to trade growth. This information could have been inaccurate based on sources, but gives a sense of what it was like to acquire wealth during that time. It is important because it relates to societies like Ancient Rome or Mesopotamia who relied heavily on trade. Trade sparked many relationships in China during the Tang and Song dynasties because they influenced communication and text to Japan, Korea, and Vietnam. These documents helped explain that trade provided communication between societies and allowed them to stay

J. Trade helped accelerate the growth of of many industries under Mongolian empire. So, after the destruction and slaughter while the Mongols took control of the civilization, the rectified it by helping the society strive, increase the

Trade has greatly impacted the world in many ways. Trade is the exchange of goods. People trade because they want to better themselves with things they need or want. People can also trade ideas and religions. Sea routes and land routes were most important to be able to trade.

A consequence of trade from document F is exploitation. Some examples are: in the civilization of Elmina, they were near salt, gold, slaves, and ivory. These are the things that Elmina traded with others and how they prospered. In Benin, salt was traded with others. Finally, in the civilization of Gao, copper, gold,

Trade is one of the key necessities to building a prosperous empire. This is shown through the empires located in Africa, the Middle East, and in China. Trade causes either negative or positive effects based on what is being traded or who it affects. There are many circumstances that can affect the trade outcome, such as location. Trade is very important to most kingdoms because it causes a good economy and government.

well. This is due to the profitable and valuable items that are exchanged through trade. In document 4,

The tendency of communities to specialize in some phase of economic activity made it necessary that they maintain commercial contact with other communities and countries in order to secure the things that they did not produce (Hope 16). Some villages, for example, specialized in fishing, others concentrated on metallurgy, while others made weapons, utensils, and so on. Traders traveled from place to place to barter and to purchase. Upon returning they were laden with goods that they sold within their own community (Hope 17).

In ancient history, trading was a major factor in the lives of many. It helped to renew the business of trading in some places. Another name for the trading system was the barter system. In ancient history there were many commodities that were useful in the trading system. Salt, gold, and people all had a role in the trading industry.

     International trade is defined as trade between two or more partners from different countries in the exchange of goods and services. In order to understand International trade, we need to first know and understand what trade is, which is the buying and selling of products between different countries. International Trade simply is globalization of the world and enables countries to obtain products and services from other countries effortlessly and expediently.