Merchants

Definition

Merchants are individuals or businesses who trade in commodities that they did not produce themselves, i.e., they buy goods to sell them at a profit. In history, merchants have played a significant role in establishing trade routes and economic systems.

Related terms

Trade Routes: These are specific paths used for trading goods between cities, regions, or countries.

Commodities: These are raw materials or primary products that can be bought and sold, such as coffee or gold.

Barter System: This is an old method of exchange where goods or services were directly exchanged for other goods or services without using a medium of exchange, such as money.