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Economics 4.1.4

Economics- Edexcel 4.1.4

TermDefinition
terms of trade measure the relative prices of a country’s exports compared to the cost of imported goods and services
terms of trade index formula (price index for exports) / (price index for imports)
ToT terms of trade
measures of a country’s trade competitiveness terms of trade or relative unit labour cost
improvement in the terms of trade export prices are rising relative to import
factors influencing the terms of trade global prices for raw materials and components/exchange rate/import tariffs and other trade barriers
Created by: jessharris
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