What is the meant by the terms of trade?

Name: What is the meant by the terms of trade?
Brand: Quizplus
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Quizplus · Accepted Answer

Terms of trade refer to the ratio between the average price of a country's exports and the average price of its imports. This indicates the value of a country's exports relative to the value of its imports. A higher ratio indicates that a country can buy more imports with the same quantity of exports, while a lower ratio indicates the opposite.

What Is the Meant by the Terms of Trade