The term that describes a price of one good in terms of another is called __________.
A)comparative terms of trade
B)regional terms of trade
C)factor endowment theory
D)global terms of trade
E)commodity terms of trade

Question

Quizplus · Accepted Answer

The term that describes a price of one good in terms of another is called "commodity terms of trade." This concept is used to compare the exchange rate of goods between countries or entities, focusing on the relative price changes of exports to imports.

The Term That Describes a Price of One Good in Terms