Any change in the volume of export or import by a small country will have no effect on its terms of trade.

Name: Any change in the volume of export or import by a small country will have no effect on its terms of trade.
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Question

Quizplus · Accepted Answer

Small countries, due to their limited share in global trade, typically cannot influence international prices with changes in their export or import volumes, thus their terms of trade remain unaffected by such changes.

Any Change in the Volume of Export or Import by a Small