Definition of Voluntary trade:
A term used to describe the foundation of the present economic system. When products and goods are exchanged for other products or services, the result is a trade. Voluntary trade describes a market where buyers and sellers have the right to sell and buy by their own preference or refuse to if they so choose. Voluntary trade also describes a persons freedom to choose to work for compensation versus being forced into labor.
How to use Voluntary trade in a sentence?
- You need to make sure that any time you do a voluntary trade you are getting the best deal that you can.
- The United States is well known for its free market economics, which is important to the structure of the economy because it allows for voluntary trade between individuals and businesses.
- We entered a voluntary trade agreement with the other company and we were glad to be partners with this business again.
Meaning of Voluntary trade & Voluntary trade Definition