4.1.4 Terms of trade

Subdecks (3)

c)Impact of changes in a country's terms of trade
Paper 2- UK economy performance & policies > Theme 4: A global perspective > 4.1 International economics > 4.1.4 Terms of trade
16 cards
b)Factors influencing a country’s terms of trade
Paper 2- UK economy performance & policies > Theme 4: A global perspective > 4.1 International economics > 4.1.4 Terms of trade
19 cards
a) Calculation of terms of trade
Paper 2- UK economy performance & policies > Theme 4: A global perspective > 4.1 International economics > 4.1.4 Terms of trade
3 cards

Cards (42)

What do terms of trade refer to?
Ratio of export prices to import prices
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How can the relative price of imports and exports affect a country's standard of living?
It can directly influence the standard of living
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What is the benefit of exporting goods that are highly priced?
Higher incomes and cheaper imports
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What do the terms of trade capture?
The relationship between export and import prices
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