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A country has favourable terms of trade when the prices of her 

Economics
WAEC 2015

A country has favourable terms of trade when the prices of her 

  • A. exports rises relative to the price of her imports
  • B. exports falls relative to the price of her imports
  • C. imports rise faster than the prices of imports
  • D. imports and exports move in the same direction
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Correct Answer: Option A
Explanation

If the prices of a country's exports rise relative to the prices of its imports, one says that its terms of trade have moved in a favourable direction, because, in effect, it now receives more imports for each unit of goods exported.

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