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The Origins of Business, Money, and Markets resources

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xx L I S T O F T E R M S east, west the eastern or western part of the Roman Empire; the eastern part spoke Greek; the western, Latin; the dividing line ran down the Adriatic Sea and across the Mediterranean Fertile Crescent a swath of fertile land from Mesopotamia through the Levant to Egypt fi a discipline that gives economic value to posses- nance sions, protects and increases that value, and gener- ates purchasing power from it imperialism the conquest and rule of new territories for the sake of profi t investment banker an intermediary who brings together investors and business opportunities investment the use of present resources to create future benefi ts latifundia an extensive farm estate, usually including several farms, operated for profi t Levant the lands along the Mediterranean coast from Egypt to Turkey market a trading place where prices depend on supply and demand marketing the presentation of what is to be sold, including de- sign, advertising, selling, distribution, and customer support monetized market a market using coins prehistoric societies societies without writing purchasing power a form of wealth that serves as payment; most of- ten, money or credit role of business the importance, prosperity, and function of busi- ness in a society trade the business of acquiring goods and reselling them at another place or time trader one who risks his capital in trade transaction costs costs of doing transactions, including the acquisition of information, use of agents, and the shirking or op- portunism of people who aff ect the transaction valuable a desirable possession wealth a sum of desirable possessions

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