Question

define terms of trade​

Answer 1

Explanation:

ᵗʰᵉ ʳᵃᵗⁱᵒ ᵒᶠ ᵃⁿ ⁱⁿᵈᵉˣ ᵒᶠ ᵃ ᶜᵒᵘⁿᵗʳʸ'ˢ ᵉˣᵖᵒʳᵗ ᵖʳⁱᶜᵉˢ ᵗᵒ ᵃⁿ ⁱⁿᵈᵉˣ ᵒᶠ ⁱᵗˢ ⁱᵐᵖᵒʳᵗ ᵖʳⁱᶜᵉˢ

Answer 2

Answer:

The terms of trade is the relative price of export in terms of import and is defined as the ratio of export price .It can be interpreted as the amount of import good and economy's can purchase per unit of export goods