Trade is an essential part of modern society, involving the exchange of goods, services, or both, between parties. It forms the backbone of economics and is crucial for globalization, allowing for the distribution of resources and fostering international relationships.
Words Related to Trade
Here are the top 30 terms related to trade with meanings:
- Export – Sending goods to another country for sale.
- Import – Bringing goods into a country from abroad.
- Tariff – Tax or duty imposed on imported goods.
- Barter – Exchange of goods without using money.
- Commerce – The buying and selling of goods.
- Supply Chain – Network of businesses involved in producing and distributing goods.
- Wholesale – Selling goods in large quantities.
- Retail – Selling goods in smaller quantities to consumers.
- Exchange Rate – Value of one currency in relation to another.
- Trade Deficit – The value of imports exceeds the value of exports.
- Free Trade – Trading without tariffs or restrictions.
- Trade Surplus – The value of exports exceeds the value of imports.
- Trade Agreement – Formal arrangement between trading countries.
- Customs – Authorities who check imports and exports.
- Mercantilism – Economic policy focusing on exports.
- Globalization – Worldwide integration of markets.
- Trade War – Conflict involving trade barriers.
- Sanctions – Penalties affecting trade relations.
- Quota – A limit set on the number of imports.
- Duty-Free – Without any import or export tax.
- Investment – Allocation of resources for future gain.
- Outsourcing – Sending jobs to other countries.
- Domestic Trade – Trade within a single country.
- Fair Trade – Ethical and fair trading conditions.
- E-commerce – Trading goods and services online.
- Arbitrage – Buying and selling to profit from price differences.
- Smuggling – Illegal trade across borders.
- Trade Union – Organization representing workers.
- Protectionism – Policies guarding domestic industries.
- Laissez-Faire – Minimal government interference in trade.
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