the relationship between the average price of exports and the average price of imports. Terms of Trade always favour MEDCs at the expense of LEDCs. See Structure of Trade.
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http://geographyfieldwork.com/GeographyVocabularyGCSEIndustry.htm
1. The relative price, on world markets, of a country's exports compared to its imports. See improve the terms of trade.* 2. Outside of the economics of international trade, this expression often refers more broadly to the policies, facilities, and other arrangements that characterize the trade between one country or group of countries and another...
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http://www-personal.umich.edu/~alandear/glossary/
relationship between the prices at which a country sells its exports and the prices paid for its imports. If the prices of a country`s exports rise ... [2 related articles]
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http://www.britannica.com/eb/a-z/t/27
The weighted average of a nation`s export prices relative to its import prices.
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http://www.duke.edu/~charvey/Classes/wpg/bfglost.htm
An index of the price of a country's exports in terms of its imports. The terms of trade are said to improve if that index rises. (Obstfeld and Rogoff, p 25) An analogous use is when comparing relative prices. If the cost of agricultural goods in terms of industrial goods goes up, one might say the 'terms of trade ... shifted in favor of agricultur...
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http://www.econterms.com/glossary.cgi?query=terms+of+trade
The weighted average of a nation's export prices relative to its import prices.
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http://www.encyclo.co.uk/local/20047
The relationship between the weighted average price of exports and imports, expressed as an index value.
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http://www.encyclo.co.uk/local/20140
The relationship between the weighted average price of exports and imports, expressed as an index value.
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http://www.encyclo.co.uk/local/20414
In international trade, the ratio of export prices to import prices. An improvement in the terms of trade (there is an increase in the value of the ratio) should mean that the country is better off,...
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http://www.encyclo.co.uk/local/20688
Terms of trade are the ratio for a given product between the export price index and the import price index, with these indices expressed in relation to the same base year. A 1% improvement in the terms of trade means that the growth in export prices is 1% higher than that of import prices. It also signifies a deterioration in French price-competiti...
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http://www.encyclo.co.uk/local/21732
In international trade, the ratio of export prices to import prices. An improvement in the terms of trade (an increase in the value of the ratio) should mean that the country is better off, having to provide fewer exports for the same number of imports as before. Devaluation of the currency leads to a deterioration of the terms of trade
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https://www.encyclo.co.uk/local/21221
Number of units that must be given up for one unit of goods by each party, e.g., nation, to a transaction. The terms of trade are said to move in favor of the party that gives up fewer units of goods than it did previously for one unit of goods received, and against the party that gives up more units of goods for one unit of goods received. In inte...
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https://www.photius.com/countries/bolivia/glossary/index.html
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