Question

Q2.Explain briefly : i) Trade was a private enterprise till 17 th Century.

Answer 1

Answer:

Trade involves the transfer of goods or 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.

Explanation:

An early form of trade, the Gift economy, saw the exchange of goods and services without an explicit agreement for immediate or future rewards. A gift economy involves trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from