economic exchange
Goods for money
Economic exchange is any transaction where goods, services, or resources change hands between parties.
The term encompasses everything from barter to complex financial markets: The fur trade was the primary economic exchange between colonists and indigenous peoples.
Economists use the phrase to emphasize the transactional nature of interactions that might otherwise seem social or political.
- marketVenue for trade
- free marketCommerce without state intervention
- currencyMedium of exchange
- commoditiesTradeable raw materials
- consumersThose who buy goods
buying and selling · cash · cash flow · merchants · trade · bill · domestic trade · black market · bilateral trade · financial markets · producers · profit · bottom line · trade agreements · globalization · invisible hand · deal · bargain
economic exchangegift
Item given freely
donation · charity · free transfer · alms · philanthropy
economic exchangecentral planning
Government directs all production
command economy · gift economy · redistribution · rationing · subsistence economy
economic exchangetheft
Unlawful taking of property
robbery · plunder · confiscation · expropriation · seizure