Terms of trade - Wikipedia
https://en.wikipedia.org/wiki/Terms_of_trade
OverviewTwo country model CIE economicsHistoryDefinitionLimitationsSee alsoExternal linksIn the simplified case of two countries and two commodities, terms of trade is defined as the ratio of the total export revenue a country receives for its export commodity to the total import revenue it pays for its import commodity. In this case, the imports of one country are the exports of the other country. For example, if a country exports 50 dollars' worth of product in exchange for 100 dollars' worth of imported product, that country's terms of trade are 50/100 = 0.5. The terms of trade for t…
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