Trading Industry

Definition

This refers to businesses involved in exchanging goods or services between parties. In European history, trading industries have played a crucial role in economic development and international relations.

Analogy

Imagine trading industry as a giant marketplace where countries are stalls selling their unique products. Some stalls may be popular because they sell rare items (like spices from India), while others might be known for their high-quality goods (like silk from China).

Related terms

Mercantilism: Economic theory that trade generates wealth and is stimulated by accumulation of profitable balances.

Colonial Trade Networks: Systems established by colonial powers for controlling trade with their colonies; often involved monopolies on certain goods or tariffs on imports/exports.

Silk Road: Ancient network of trade routes that connected East Asia with Europe; facilitated not only commerce but also cultural exchange.