commerce, in economics

commerce, traffic in goods, usually thought of as trade between states or nations. Engaged in by all peoples from the earliest times, it has been carried on in some areas and by some peoples more than others, because of special geographical, technological, or economic advantages. The Egyptians, the Sumerians and later inhabitants of Mesopotamia, the Cretans, the Syrians, the Phoenicians, the Greeks, the Arabs, and the Western Europeans have excelled in commerce, tapping the resources of the East, Oceania, the Americas, and Africa.

Sections in this article:

• Introduction
• International Trade Today
• The Rise of Commerce in Europe
• Bibliography

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