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British Dictionary definitions for terms of trade

terms of trade

pl n
  1. economics, British the ratio of export prices to import prices. It measures a nation's trading position, which improves when export prices rise faster or fall slower than import prices
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012