1.
Goods and services
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Physiocratic economists categorized production into productive labour and unproductive labour. This emphasis on production was adapted by David Ricardo, Thomas Robert Malthus and John Stuart Mill. Other, mainly Italian, 18th century economists maintained that all desired goods, the division of consumables into services is a simplification, these are not discrete categories. Most business theorists see a continuum with pure service at one endpoint, most products fall between these two extremes. For example, a restaurant provides a good, but also provides services in the form of ambience. Although some utilities, such as electricity and communications service providers, exclusively provide services, other utilities deliver physical goods, for public sector contracting purposes in the European Union, electricity supply is actually defined as goods rather than services. Goods are normally structural and can be transferred in an instant while services are delivered over a period of time, goods can be returned while a service once delivered cannot. Goods are not always tangible and may be virtual e. g. a book may be paper or electronic, marketing theory makes use of the service-goods continuum as an important concept which enables marketers to see the relative goods/services composition of total products. In a narrower sense, service refers to quality of customer service and this particular usage occurs frequently in retailing. Distinctions are made between goods and services in the context of international trade liberalization, for example, the World Trade Organizations General Agreement on Tariffs and Trade covers international trade in goods and the General Aglreement on Trade in Services covers the services sector
2.
System
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A system is a set of interacting or interdependent component parts forming a complex or intricate whole. Every system is delineated by its spatial and temporal boundaries, surrounded and influenced by its environment, described by its structure and purpose and expressed in its functioning. Alternatively, and usually in the context of social systems. The term system comes from the Latin word systēma, in turn from Greek σύστημα systēma, whole compounded of several parts or members, system, according to Marshall McLuhan, System means something to look at. You must have a high visual gradient to have systematization. In philosophy, prior to Descartes, there was no system, in the 19th century the French physicist Nicolas Léonard Sadi Carnot, who studied thermodynamics, pioneered the development of the concept of a system in the natural sciences. In 1824 he studied the system which he called the substance in steam engines. The working substance could be put in contact with either a boiler, in 1850, the German physicist Rudolf Clausius generalized this picture to include the concept of the surroundings and began to use the term working body when referring to the system. The biologist Ludwig von Bertalanffy became one of the pioneers of the systems theory. Norbert Wiener and Ross Ashby, who pioneered the use of mathematics to study systems, in the 1980s John H. Holland, Murray Gell-Mann and others coined the term complex adaptive system at the interdisciplinary Santa Fe Institute. Environment and boundaries Systems theory views the world as a system of interconnected parts. One scopes a system by defining its boundary, this means choosing which entities are inside the system, one can make simplified representations of the system in order to understand it and to predict or impact its future behavior. These models may define the structure and behavior of the system, Natural and human-made systems There are natural and human-made systems. Natural systems may not have an apparent objective but their behavior can be interpreted as purposefull by an observer, human-made systems are made to satisfy an identified and stated need with purposes that are achieved by the delivery of wanted outputs. Their parts must be related, they must be designed to work as a coherent entity – otherwise they would be two or more distinct systems, Theoretical framework An open system exchanges matter and energy with its surroundings. Most systems are open systems, like a car, a coffeemaker, a closed system exchanges energy, but not matter, with its environment, like Earth or the project Biosphere2 or 3. An isolated system exchanges neither matter nor energy with its environment, a theoretical example of such system is the Universe. Inputs are consumed, outputs are produced, the concept of input and output here is very broad
3.
International trade
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International trade is the exchange of capital, goods, and services across international borders or territories. It is the exchange of goods and services among nations of the world, in most countries, such trade represents a significant share of gross domestic product. While international trade has existed throughout history, its economic, social, trading globally gives consumers and countries the opportunity to be exposed to new markets and products. Almost every kind of product can be found on the market, food, clothes, spare parts, oil, jewellery, wine, stocks, currencies. Services are also traded, tourism, banking, consulting and transportation, a product that is sold to the global market is an export, and a product that is bought from the global market is an import. Imports and exports are accounted for in a current account in the balance of payments. Industrialization, advanced technology, including transportation, globalization, multinational corporations, increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods, the main difference is that international trade is typically more costly than domestic trade. Another difference between domestic and international trade is that factors of such as capital and labor are typically more mobile within a country than across countries. Thus international trade is restricted to trade in goods and services. Trade in goods and services can serve as a substitute for trade in factors of production, instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example is the import of goods by the United States from China. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor, International trade is also a branch of economics, which, together with international finance, forms the larger branch called international economics. The history of international trade chronicles notable events that have affected the trade between various economies, there are several models which seek to explain the factors behind international trade, the welfare consequences of trade and the pattern of trade. </ref></ref>==Largest countries by total international trade== Source, International Trade Centre President George W. Bush observed World Trade Week on May 18,2001, mcKenzie, Lionel W. Specialization and Efficiency in World Production. A Ricardo-Sraffa Paradigm Comparing the Gains from Trade in Inputs and Finished Goods, the definitions and methodological concepts applied for the various statistical collections on international trade often differ in terms of definition and coverage. Metadata providing information on definitions and methods are published along with the data. Ptas. mcgill. ca Historical documents on international trade available on FRASER
4.
Latin
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Latin is a classical language belonging to the Italic branch of the Indo-European languages. The Latin alphabet is derived from the Etruscan and Greek alphabets, Latin was originally spoken in Latium, in the Italian Peninsula. Through the power of the Roman Republic, it became the dominant language, Vulgar Latin developed into the Romance languages, such as Italian, Portuguese, Spanish, French, and Romanian. Latin, Italian and French have contributed many words to the English language, Latin and Ancient Greek roots are used in theology, biology, and medicine. By the late Roman Republic, Old Latin had been standardised into Classical Latin, Vulgar Latin was the colloquial form spoken during the same time and attested in inscriptions and the works of comic playwrights like Plautus and Terence. Late Latin is the language from the 3rd century. Later, Early Modern Latin and Modern Latin evolved, Latin was used as the language of international communication, scholarship, and science until well into the 18th century, when it began to be supplanted by vernaculars. Ecclesiastical Latin remains the language of the Holy See and the Roman Rite of the Catholic Church. Today, many students, scholars and members of the Catholic clergy speak Latin fluently and it is taught in primary, secondary and postsecondary educational institutions around the world. The language has been passed down through various forms, some inscriptions have been published in an internationally agreed, monumental, multivolume series, the Corpus Inscriptionum Latinarum. Authors and publishers vary, but the format is about the same, volumes detailing inscriptions with a critical apparatus stating the provenance, the reading and interpretation of these inscriptions is the subject matter of the field of epigraphy. The works of several hundred ancient authors who wrote in Latin have survived in whole or in part and they are in part the subject matter of the field of classics. The Cat in the Hat, and a book of fairy tales, additional resources include phrasebooks and resources for rendering everyday phrases and concepts into Latin, such as Meissners Latin Phrasebook. The Latin influence in English has been significant at all stages of its insular development. From the 16th to the 18th centuries, English writers cobbled together huge numbers of new words from Latin and Greek words, dubbed inkhorn terms, as if they had spilled from a pot of ink. Many of these words were used once by the author and then forgotten, many of the most common polysyllabic English words are of Latin origin through the medium of Old French. Romance words make respectively 59%, 20% and 14% of English, German and those figures can rise dramatically when only non-compound and non-derived words are included. Accordingly, Romance words make roughly 35% of the vocabulary of Dutch, Roman engineering had the same effect on scientific terminology as a whole
5.
Caduceus
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The caduceus is the staff carried by Hermes Trismegistus in Greco-Egyptian mythology and Hermes in Greek mythology. The same staff was also borne by heralds in general, for example by Iris and it is a short staff entwined by two serpents, sometimes surmounted by wings. C. to 3000 B. C. As a symbolic object, it represents Hermes, and by extension trades, occupations, in later Antiquity, the caduceus provided the basis for the astrological symbol representing the planet Mercury. Thus, through its use in astrology and alchemy, it has come to denote the elemental metal of the same name and it is said the wand would wake the sleeping and send the awake to sleep. If applied to the dying, their death was gentle, if applied to the dead and this association is ancient, and consistent from the Classical period to modern times. The caduceus is also used as a symbol representing printing, again by extension of the attributes of Mercury, the term kerukeion denoted any heralds staff, not necessarily associated with Hermes in particular. In his study of the cult of Hermes, Lewis Richard Farnell assumed that the two snakes had simply developed out of ornaments of the crook used by heralds as their staff. This view has been rejected by later authors pointing to parallel iconography in the Ancient Near East and it has been argued that the staff or wand entwined by two snakes was itself representing a god in the pre-anthropomorphic era. Like the herm or priapus, it would thus be a predecessor of the anthropomorphic Hermes of the classical era, william Hayes Ward discovered that symbols similar to the classical caduceus sometimes appeared on Mesopotamian cylinder seals. He suggested the symbol originated some time between 3000 and 4000 BCE, and that it might have been the source of the Greek caduceus. From this perspective, the caduceus was originally representative of Hermes himself, in his form as the Underworld god Ningishzida. The caduceus is mentioned in passing by Walter Burkert as really the image of copulating snakes taken over from Ancient Near Eastern tradition, in Egyptian iconography, the Djed pillar is depicted as containing a snake in a frieze of the Dendera Temple complex. The caduceus also appears as a symbol of the coins of the Maurya Empire in India. Numismatic research suggest that this symbol was the symbol of the Buddhist king Ashoka, the Homeric hymn to Hermes relates how Hermes offered his lyre fashioned from a tortoise shell as compensation for the cattle he stole from his half brother Apollo. Apollo in return gave Hermes the caduceus as a gesture of friendship, the association with the serpent thus connects Hermes to Apollo, as later the serpent was associated with Asclepius, the son of Apollo. The association of Apollo with the serpent is a continuation of the older Indo-European dragon-slayer motif, one Greek myth of origin of the caduceus is part of the story of Tiresias, who found two snakes copulating and killed the female with his staff. Tiresias was immediately turned into a woman, and so remained until he was able to repeat the act with the male snake seven years later and this staff later came into the possession of the god Hermes, along with its transformative powers. Another myth suggests that Hermes saw two serpents entwined in mortal combat, separating them with his wand he brought about peace between them, and as a result the wand with two serpents came to be seen as a sign of peace
6.
Mercury (mythology)
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Mercury is a major Roman god, being one of the Dii Consentes within the ancient Roman pantheon. He is the god of financial gain, commerce, eloquence, messages/communication, travelers, boundaries, luck, trickery and thieves. He was considered the son of Maia and Jupiter in Roman mythology, in his earliest forms, he appears to have been related to the Etruscan deity Turms, both gods share characteristics with the Greek god Hermes. He is often depicted holding the caduceus in his left hand, similar to his Greek equivalent he was awarded the caduceus by Apollo who handed him a magic wand, which later turned into the caduceus. Mercury did not appear among the di indigetes of early Roman religion. Rather, he subsumed the earlier Dei Lucrii as Roman religion was syncretized with Greek religion during the time of the Roman Republic, starting around the 4th century BC. He was often accompanied by a cockerel, herald of the new day, a ram or goat, symbolizing fertility, like Hermes, he was also a god of messages, eloquence and of trade, particularly of the grain trade. Mercury was also considered a god of abundance and commercial success, particularly in Gaul and he was also, like Hermes, the Romans psychopomp, leading newly deceased souls to the afterlife. Additionally, Ovid wrote that Mercury carried Morpheus dreams from the valley of Somnus to sleeping humans, archeological evidence from Pompeii suggests that Mercury was among the most popular of Roman gods. The god of commerce was depicted on two bronze coins of the Roman Republic, the Sextans and the Semuncia. This is probably because in the Roman syncretism, Mercury was equated with the Celtic god Lugus, Romans associated Mercury with the Germanic god Wotan, by interpretatio Romana, 1st-century Roman writer Tacitus identifies him as the chief god of the Germanic peoples. The Romans also made use of small statues of Mercury. Mercurius Arvernus, a syncretism of the Celtic Arvernus with Mercury, Mercurius Cimbrianus, a syncretism of Mercury with a god of the Cimbri sometimes thought to represent Odin. Mercurius Cissonius, a combination of Mercury with the Celtic god Cissonius, Mercurius Esibraeus, a syncretism of the Iberian deity Esibraeus with the Roman deity Mercury. Esibraeus is mentioned only in an inscription found at Medelim, Portugal, and is possibly the deity as Banda Isibraiegus. Mercurius Gebrinius, a syncretism of Mercury with the Celtic or Germanic Gebrinius, known from an inscription on an altar in Bonn, Mercurius Moccus, from a Celtic god, Moccus, who was equated with Mercury, known from evidence at Langres, France. The name Moccus implies that this deity was connected to boar-hunting, Mercurius Visucius, a syncretism of the Celtic god Visucius with the Roman god Mercury, attested in an inscription from Stuttgart, Germany. Visucius was worshiped primarily in the area of the empire in Gaul
7.
Financial transaction
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A financial transaction is an agreement, communication, or movement carried out between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals, the buyer and seller are separate entities or objects, often involving the exchange of items of value, such as information, goods, services, and money. It is still a transaction if the goods are exchanged at one time, and this is known as a two-part transaction, part one is giving the money, part two is receiving the goods. In ancient times non-financial transactions were conducted through systems of credit, in which goods. Credit has certain disadvantages, including the requirement that traders or their intermediaries trust one another, debts must eventually be settled either with goods or by payment of money, a substance of agreed value such as gold and silver. Systems of credit are evident throughout recorded history and from archeology, by contrast little evidence has been found of widespread use of pure barter, where traders meet face to face and transactions are completed in a single swap. In 1997,1.3 billion US dollars were exchanged per day on the exchange market. The world financial transactions have jumped from 1.1 quadrillion US dollars in 2002 to 2.2 quadrillion US dollars in 2008 and this is the most common type of financial transaction. An item or goods are exchanged for money and this transaction results in a decrease in the finances of the purchaser and an increase in the benefits of the sellers. The smaller delayed repayments usually add up to more than the first large amount, the difference in payments is called interest. Here, money is given for not any specific reason and this is a combined loan and purchase in which a lender gives a large amount of money to a borrower for the specific purpose of purchasing a very expensive item. As part of the transaction, the borrower usually agrees to give the item to the if the loan is not paid back on time. This guarantee of repayment is known as collateral, a bank is a business that is based almost entirely on financial transactions. In addition to acting as a lender for loans and mortgages, the lender is known as a customer and gives unspecified amounts of money to the bank for unspecified amounts of time. The bank agrees to repay any amount in the account at any time, in addition, the bank guarantees that the money will not be stolen while it is in the account and will reimburse the customer if it is. In return, the bank gets to use the money for financial transactions as long as they hold it. This is a combination of a purchase and a loan. The seller gives the buyer the good or item as normal, in this way, the buyer is paying with a loan from the credit card company, usually a bank
8.
Prehistory
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Prehistory means literally before history, from the Latin word for before, præ, and Greek ιστορία. Neighbouring civilisations were the first to follow, most other civilisations reached the end of prehistory during the Iron Age. The period when a culture is written about by others, but has not developed its own writing is known as the protohistory of the culture. By definition, there are no records from human prehistory. Clear techniques for dating were not well-developed until the 19th century and this article is concerned with human prehistory as defined here above. There are separate articles for the history of the Earth. However, for the race as a whole, prehistory ends when recorded history begins with the accounts of the ancient world around the 4th millennium BC. For example, in Egypt it is accepted that prehistory ended around 3200 BC, whereas in New Guinea the end of the prehistoric era is set much more recently. The three-age system is the periodization of prehistory into three consecutive time periods, named for their respective predominant tool-making technologies, Stone Age Bronze Age Iron Age. The notion of prehistory began to surface during the Enlightenment in the work of antiquarians who used the word primitive to describe societies that existed before written records, the first use of the word prehistory in English, however, occurred in the Foreign Quarterly Review in 1836. The main source for prehistory is archaeology, but some scholars are beginning to more use of evidence from the natural and social sciences. This view has been articulated by advocates of deep history, human population geneticists and historical linguists are also providing valuable insight for these questions. Human prehistory differs from history not only in terms of its chronology, restricted to material processes, remains and artifacts rather than written records, prehistory is anonymous. Because of this, reference terms that use, such as Neanderthal or Iron Age are modern labels with definitions sometimes subject to debate. Palaeolithic means Old Stone Age, and begins with the first use of stone tools, the Paleolithic is the earliest period of the Stone Age. The early part of the Palaeolithic is called the Lower Palaeolithic, evidence of control of fire by early humans during the Lower Palaeolithic Era is uncertain and has at best limited scholarly support. The most widely accepted claim is that H. erectus or H. ergaster made fires between 790,000 and 690,000 BP in a site at Bnot Yaakov Bridge, Israel. The use of fire enabled early humans to cook food, provide warmth, Early Homo sapiens originated some 200,000 years ago, ushering in the Middle Palaeolithic
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