Role of commodities in America
Commodities are the essential items that are used in the trade, or they are interchangeable with other goods. Commodities most often are used as inputs in the production process. The qualities of various products might differ at times, but it is substantially uniform across manufacturers. When commodities are exchanged for other goods and service they have to meet basic grade or minimum standards and in the United States exchange of goods and services, have traded hands through history. This essay will, therefore, describe and explain the role of commodities in American society from the colonial period to the present period.Role of commodities in America up to present.
Movement of goods across the United States has played a vital role in defining the United States. The flow of goods has existed since time immemorial. The triangular trade is one of the earliest forms of trade that the United States participated in. The triangular trade is a term that describes the trade that occurred between Africa, England and England (Deane). The trade pattern fell into three broader categories which were the natural resources and raw material such as cotton, tobacco and rice that were sourced from thirteen colonies all over the world, the manufactured commodities were sourced from Europe and England such as cloth, guns and beads and lastly the slaves from West Africa majority of whom were tailored in plantations. Role of commodities in America. In the earlier period, there existed the triangular trade; this trade involved the movement of commodities across three regions which included the United States, Britain and Africa and products that moved across the three periods included cotton, tobacco, sugar and slaves. The best mode of the triangular trade took place in the 16th to the 19th century, primarily carrying goods. Slaves who were majorly sourced from Africa were of great importance in the trade as they provided cheap labor in the cash crop plantation. Cash crops were later on exported to Europe. The good from Europe were exchanged for African slaves who were shipped all the way from Africa to America (Mantoux).