According to J S Mill, equilibrium terms of trade is determined by -------demand

Question

Quizplus · Accepted Answer

According to J.S. Mill, the equilibrium terms of trade are determined by reciprocal demand, which refers to the mutual demand that two countries have for each other's goods. This concept is crucial in international trade theory, as it helps in understanding how exchange rates and terms of trade are established between nations based on their respective demands for each other's products.

According to J S Mill, Equilibrium Terms of Trade Is