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WAEC Commerce 2026 Question 17

Question 17

Foreign Trade

The rate at which a country's imports exchange for their exports is

  1. A.deficit balance
  2. B.surplus balance
  3. C.terms of payment
  4. D.terms of trade
Show the answer and explanation

Answer: D (terms of trade)

Explanation

Terms of trade measure the rate at which a country's exports exchange for its imports.