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Commerce

Categories: Econ

In ancient times, you might think of the marketplace. A couple decades ago, you might think of a mall. Now, it's basically people on their couches in their underwear, ordering stuff online.

Commerce represents the trading of goods and services, either for other goods and services or for currency. Basically, when you think about the economy, you're thinking about people, uh...doing commerce.

Find other enlightening terms in Shmoop Finance Genius Bar(f)