The Terms of Trade is the relative price of exports compared to the price of imports. There are often some calculations required with the Terms of Trade (ToT) so watch the video below as an example of what you are expected to do in HSC Economics:
The Terms of Trade is the relative price of exports compared to the price of imports. There are often some calculations required with the Terms of Trade (ToT) so watch the video below as an example of what you are expected to do in HSC Economics:
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