Terms of trade of less developed countries are generally unfavourable because

Related MCQs

• Trade between two countries is called
• According to Adam Smith, international trade is advantageous for all participating countries only if they enjoy _ difference in cost of production
• Two countries can gain from foreign trade if
• According to H-O theory, International trade is, but a pecial case of _ _ trade.
• When many commodities are traded terms of trade is expresed as _ of its export pricr to import price
• If import prices rse more than export prices, terms of trade have _
• The limitations of Commodty terms of trade gave rise to _
• A favourable terms of trade indicates _ imports for given exports
•     _ _ introduced the concept of Gross barter terms of trade
• Single factoral terms of trade take in to account