Summary paper - Juliet Martin Summary of Principle #5...

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Juliet Martin Summary of Principle #5 “People gain when they trade voluntarily. People can produce more in less time by concentrating on what they do best. The surplus goods or services they can be traded for other valuable goods or services.” The U.S. has been trading with other countries since the beginning of time. Bartering goes all the way back to slavery. Slaves were traded with the Portuguese, Spaniards, and English to come over to the Americas. And, these countries traded with Africa to get the slaves to their land as well. This system of trading is the start of business being done between countries. As years progress, it moves from slavery to agriculture. The exchange of one product for another depending on what country produces what best. From agriculture, America moved on to starting businesses, and the owners and teams began to broaden their horizons. Today, there is a list provided that shows the top 10 countries that had surplus amounts trading with the U.S. by the end of 2009.
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This note was uploaded on 06/10/2011 for the course MARKETING 3702 taught by Professor Dr.wilson during the Fall '10 term at Florida A&M.

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Summary paper - Juliet Martin Summary of Principle #5...

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