merchants
Merchants are people who buy and sell goods. They trade items such as food, clothing, tools, and materials. Merchants may work in shops, markets, or as traveling traders. Some sell locally, while others trade across long distances. Merchants are found in cities, ports, and along trade routes around the world. They have existed throughout history, […]
economy
Economy is the system that produces, distributes, and uses goods and services. It includes workers, businesses, and consumers. Every country has its own economy. Activities such as farming, manufacturing, and selling products are part of an economy. Economies can operate locally, nationally, or globally. Measurements such as gross domestic product (GDP) are used to describe […]
supply and demand
Supply and demand describe the relationship between how much of something is available and how much people want it. This relationship is part of markets. It affects how goods and services are bought and sold. When a product such as fruit or fuel is widely available, supply is high. When many people want the same […]
trade
Trade is the exchange of goods and services. It happens between people, businesses, or countries. Trade is part of all economies. A local market selling vegetables or an international exchange of cars and electronics are both examples of trade. Goods can move by road, sea, or air between places. Buyers and sellers take part in […]
inflation
Inflation is the rise in the general level of prices over time. It is used to describe changes in the value of money. Inflation is measured using economic indicators. When inflation occurs, the same amount of money may buy fewer goods than before. For example, the price of food or transport may increase over a […]
