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Terms of trade is favourable when the 

Economics
WAEC 2024

Terms of trade is favourable when the 

  • A. value of visible imports is greater than that of visible exports.
  • B. price on imports is greater than that of exports
  • C. payments on imports is greater than receipts from exports.
  • D. price of exports is rising faster than that of imports.
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Correct Answer: Option D
Explanation

D: Terms of trade is the rats at which export price pays for import price. It is favorable if export prices is higher than import prices.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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