Economy, asked by Auliya7028, 1 year ago

What is terms of Trade? Explain how the economic development affects on terms of trade?

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Answered by maharaja67
0

The terms of trade (TOT) is the relative price of imports in terms of exports and is defined as the ratio of export prices to import prices. ... An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports.

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