Trade network in the context of "Credit (finance)"

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⭐ Core Definition: Trade network

Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.

Traders generally negotiate through a medium of credit or exchange, such as money. Though some economists characterize barter (i.e. trading things without the use of money) as an early form of trade, money was invented before written history began. Consequently, any story of how money first developed is mostly based on conjecture and logical inference. Letters of credit, paper money, and non-physical money have greatly simplified and promoted trade as buying can be separated from selling, or earning. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade.

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Trade network in the context of Archaic Greece

Archaic Greece was the period in Greek history lasting from c. 800 BC to the second Persian invasion of Greece in 480 BC, following the Greek Dark Ages and succeeded by the Classical period. In the archaic period, the Greeks settled across the Mediterranean Sea and the Black Sea: by the end of the period, they were part of a trade network that spanned the entire Mediterranean.

The archaic period began with a massive increase in the Greek population and of significant changes that rendered the Greek world at the end of the 8th century entirely unrecognizable from its beginning. According to Anthony Snodgrass, the archaic period was bounded by two revolutions in the Greek world. It began with a "structural revolution" that "drew the political map of the Greek world" and established the poleis, the distinctively Greek city-states, and it ended with the intellectual revolution of the Classical period.

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LINKED FROM (PARENTS)
← Archaic Greece ← Archaic period in Greece
LINKS TO (CHILDREN)
San Juan de Dios Market → Guadalajara, Jalisco → George Howard Earle, Jr. → Goods and services → Money → System → Market (economics) → Barter → History of money → Credit (finance) → Paper money → Digital currency → Earnings → Bilateral trade → Multilateral treaty →