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Simple English definitions for legal terms
trade
Read a random definition: infitiatio
A quick definition of trade:
Trade: The act of buying and selling things or exchanging goods or services with others. It can be a job or business where people make money by selling things to others. For example, someone might trade their toy for a friend's book, or a store might trade money for goods that they sell to customers. Trade is also known as commerce.
A more thorough explanation:
Definition: Trade refers to the business of buying and selling goods or services for profit. It can involve retail or wholesale sales, or require special mechanical skills. It also refers to the act of exchanging one thing for another, such as money for goods, goods for goods, or favors for goods or money.
- A clothing store is a type of trade business that sells clothing items to customers for a profit.
- A carpenter is an example of a trade occupation that requires special mechanical skills to build and repair structures.
- When you go to a store and buy a shirt with money, you are engaging in a trade transaction.
- If you trade your old video game for a friend's book, you are exchanging goods for goods.
- If you offer to mow your neighbor's lawn in exchange for them fixing your bike, you are trading favors for goods or services.
These examples illustrate how trade can involve various types of businesses and occupations, as well as different types of exchanges between individuals or entities.