The ‘terms of trade’ means

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Economics JAMB 1979

The ‘terms of trade’ means

  • the trade agreement between two countries
  • the difference in the volumes of exports of two countries
  • the value of a unit of export in relation to the value of a unit of import checkmark
  • the production of total value of exports to the value of total trade
  • None of the above

The correct answer is: C

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