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Silent trade, also called silent barter, dumb barter ("dumb" here used in its old meaning of "mute"), or depot trade, is a method by which traders who cannot speak each other's language can trade without talking. However, Benjamin Orlove has shown that while barter occurs through "silent trade" (between strangers), it occurs in commercial ...
"Mutual credit" (sometimes called "multilateral barter" or "credit clearing") is a term mostly used in the field of complementary currencies to describe a common, usually small-scale, endogenous money system. The term implies that creditors and debtors are the same people lending to each other, but there are several nuances.
The example of transplantation is international but could be classified as a micro-economy, too. Mutualism in the sense of a (moneyless) economic theory. People contribute to a community without payment not only to help but also because they expect to be helped by a member of the community when in need (a selfish interpretation of solidarity .)
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
National economies can also be classified as developed markets or developing markets. In mainstream economics, the concept of a market is any structure that allows buyers and sellers to exchange any type of goods, services and information. The exchange of goods or services, with or without money, is a transaction. [1]
In a barter transaction, one valuable good is exchanged for another of approximately equivalent value. William Stanley Jevons described how a widely accepted medium allows each barter exchange to be split into three difficulties of barter. [19] A medium of exchange is deemed to eliminate the need for a coincidence of wants.
The English port city of Bristol traded with peoples from what is modern day Iceland, all along the western coast of France, and down to what is now Spain. [64] A map showing the main trade routes for goods within late medieval Europe. During the Middle Ages, Central Asia was the economic center of the world. [65]
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