The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________

Assessment: JAMB UTME - Economics - 2018 Subject: Economics

Question 1 Report

The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________

Answer Details

Term of trade refer to the rate at which a country’s exports exchange for its import. It is expressed as a relation between the prices a country receives for its export and the prices it pay for import. Term of trade is usually measured by this mathematical formula:

Read lesson note on Methods And Tools Of Economic Analysis (JAMB)
Read lesson note on International Trade And Balance Of Payments (WAEC)
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