Asked by Jacqueline Robertson on Jun 23, 2024
Verified
The ratio at which a country can exchange domestic products for imported products is called the terms of trade.
Terms of Trade
The ratio at which a country's exports exchange for its imports, affecting the economy's health.
- Comprehend the principle of trade terms and their significance in global transactions.
Verified Answer
NR
nithish REDDYJun 25, 2024
Final Answer :
True
Explanation :
The terms of trade refer to the ratio at which a country can exchange its exports for imports from other countries, essentially measuring the purchasing power of its exports relative to imports.
Learning Objectives
- Comprehend the principle of trade terms and their significance in global transactions.