Merchants

Definition

Merchants are individuals or businesses who trade in commodities that they did not produce themselves, i.e., they buy goods to sell them at a profit. In history, merchants have played a significant role in establishing trade routes and economic systems.

Analogy

Think of merchants as the delivery drivers of the past. Just like how delivery drivers transport your favorite food from the restaurant to your doorstep, merchants transported goods from one place to another, often over vast distances.

Related terms

Trade Routes: These are specific paths used for trading goods between cities, regions, or countries.

Commodities: These are raw materials or primary products that can be bought and sold, such as coffee or gold.

Barter System: This is an old method of exchange where goods or services were directly exchanged for other goods or services without using a medium of exchange, such as money.