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A trade is any occurence where a product or service is rendered in exchange for another product or service. This can be immediate, or a trade can be made where a person fulfills his end of the bargain at a later time.

In a direct, natural trade, goods are traded at a ratio as determined by the people involved. For example, I am in need of cabbage and I have chickens to trade. Another person who has cabbages wants two chickens for a cabbage. I determine that I want to trade a chicken for two cabbages instead. Eventually we reach an agreement on how many chickens I supply and how many cabbages I get in return.

This part of the trade is called bargaining or haggling.

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14y ago
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10y ago

The transitive property holds for similar figures.

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