695 B
695 B
Commercial Interactions
Definition
The network of exchanges and trade relationships that characterize commercial society, where individuals engage in buying and selling rather than producing solely for personal consumption.
Source Chapter
Book I, Chapter 4
Context
Smith describes how the division of labour transforms society into one based on commercial interactions, where every individual becomes a merchant in some measure and the entire social structure is organized around exchange rather than self-sufficiency.
Economic Domain
Exchange