Trade and Exchange

Trade and Exchange — page 1
People are always trading things they have for other things they want but do not have At lunch you might trade your tuna sandwich for your friend’s chicken salad That seems like a fair exchange for both of you Trade and exchange depend on both parties getting something they want in a way they feel is fair Trade and exchange has gone on for thousands of years When early humans started to live in cities they traded things with one another They also traded items from their cities for things people in other cities had This is called long-distance trade For example people in the eastern eastern Mediterranean region had a special kind of wood called cedar They would trade it with people in China who had spices and silk People living on farms can trade their fruits vegetables vegetables cattle and other produce for goods and services available available in cities A farmer might exchange a basket of apples he grew for a pair of shoes someone in town made This works well for both parties as long as they agree on the value of the traded items Trading today looks different Many exchanges take place online Some people make trades on their phones using apps For example in 2016 App Ventures Limited updated its Trade n Play app that locates nearby gamers allows for browsing of their game libraries and provides a forum for trading video games Today’s trading can also 4 INTRODUCTION