The process of buying and selling goods has been with us for many years. The significant difference for the many years is that the method of exchange and platform that trade is taking place.Let us look at how to trade stuff with other people as a source of income.
Barter was the exchange of good for good. People would walk many miles to reach a common market place where they will find people who had the products that they had. For example, if you had a bag of corn you would exchange it with maybe a goat. However, when the years went by individuals discovered minerals and other precious metals. The discovery of these metals changed the market landscape.
So no longer would individuals only exchange products for products only but now people would trade in these metals. It is because the more metals you had at the time it defined your time, the wealthier you were described to be. People now would prefer that they either go to the market to get more metals, or they were to dispose of their precious minerals for other necessary basic needs. When the land tenure system and new agricultural methods were discovered in those day and individuals had to change how they do business.
Unlike previously it was difficult because there were no exact measuring equipment that would quantify a goat and a bag of corns. Being that the precious metals were also hard to come by the scarcity of these metals lead to it being a reliable tender.
As time went on paper money came because these metals were heavier, and that was the invention of money. With the money, the market place changed for the better. You could now buy and sell without traveling ling distances. Shops and supermarkets now brought goods closer to people. The essence of trade is to make profits. Profit making is the ability to make extra money from your sales.
The production cost should be lesser that the selling price. If the production cost is higher, you will have made losses, and there is no need for you to be in the market. We also live at a time that competition levels have been so high. The surprising fact is that you can have an idea and if you do not know how to apply it to make you profits you will be pushed out of the market.
Competition has even been stiffer because people have new ideas daily. Companies that were successful in the olden days if the do not adjust to the current trends they can close shop because it requires that you be at the top of your game daily. More people prefer to identify with a brand that will give them value for every money they pay.
However, you will have to be a law abiding trader because there are rules and regulation that govern the marketplace. You are not allowed to charge high price if it does not give value for the money. And at the same time the free market has a way to balance itself because of the competition.Remember that with great determination, resilience and hard work you can develop a product that would transform lives across the world.
Barter was the exchange of good for good. People would walk many miles to reach a common market place where they will find people who had the products that they had. For example, if you had a bag of corn you would exchange it with maybe a goat. However, when the years went by individuals discovered minerals and other precious metals. The discovery of these metals changed the market landscape.
So no longer would individuals only exchange products for products only but now people would trade in these metals. It is because the more metals you had at the time it defined your time, the wealthier you were described to be. People now would prefer that they either go to the market to get more metals, or they were to dispose of their precious minerals for other necessary basic needs. When the land tenure system and new agricultural methods were discovered in those day and individuals had to change how they do business.
Unlike previously it was difficult because there were no exact measuring equipment that would quantify a goat and a bag of corns. Being that the precious metals were also hard to come by the scarcity of these metals lead to it being a reliable tender.
As time went on paper money came because these metals were heavier, and that was the invention of money. With the money, the market place changed for the better. You could now buy and sell without traveling ling distances. Shops and supermarkets now brought goods closer to people. The essence of trade is to make profits. Profit making is the ability to make extra money from your sales.
The production cost should be lesser that the selling price. If the production cost is higher, you will have made losses, and there is no need for you to be in the market. We also live at a time that competition levels have been so high. The surprising fact is that you can have an idea and if you do not know how to apply it to make you profits you will be pushed out of the market.
Competition has even been stiffer because people have new ideas daily. Companies that were successful in the olden days if the do not adjust to the current trends they can close shop because it requires that you be at the top of your game daily. More people prefer to identify with a brand that will give them value for every money they pay.
However, you will have to be a law abiding trader because there are rules and regulation that govern the marketplace. You are not allowed to charge high price if it does not give value for the money. And at the same time the free market has a way to balance itself because of the competition.Remember that with great determination, resilience and hard work you can develop a product that would transform lives across the world.
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