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ID number:407313
Evaluation:
Published: 01.12.1996.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

For a trade to take place, what you need is two people- one with some goods to sell and the other to buy it. The process of the trade will consist of both these parties expressing their individual interests- one to buy and the other to sell - and then they get into an auction process so as to decide the price. Once there is an agreement on the price, the two shake hands and a transaction is complete. Where multiple buyers and sellers congregate and multiple trades begin to occur, is called a market. There are two ways that a trade can take place. …

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