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Trade

In olden ages, trading existed in the form of barter system. Barter system was the exchange of goods and services for another. The invention of money lessened the burden of trading. Now there are trade markets which serve as the platform for trading. Depending on the number of persons involved, trading can be bilateral or multilateral. Trading even takes p lace between different geographic areas. Globlisation has greatly increased the prevalence of international trade. Sometimes, trade sanctions are imposed on one country as a sort of punishment. An embargo is a severe form of trade sanction by which all the trades of a country are blocked by another country. Tariffs and subsidies are part of protectionist policies by the government and these act as trade barriers.