What does an increase in terms of trade mean
Terms of Trade Defined. In economics, terms of trade (TOT) refer to the relationship between how much money a country pays for its imports and how much it brings in from exports. When the price of ADVERTISEMENTS: Terms of Trade: Concepts, Determination and Effect of Tariff on Term of Trade! Gains from Trade and Terms of Trade: How the gain from international trade would be shared by the participating countries depends upon the terms of trade. The terms of trade refer to the rate at which one country exchanges its goods […]