Test Index

WAEC Economics 2022 Paper

Question : 41

Total: 52

Solution:

Concept:

Terms of trade measures the relationship between a country's export prices and import prices.

Explanation:

The formula for terms of trade is:

\text{Terms of trade} = \frac{\text{Index of export price}}{\text{Index of import price}} \times 100

Here, the index of export price is

180

and the index of import price is

200

Substitute the values into the formula:

\frac{180}{200} \times 100 = 0.9 \times 100 = 90

Thus, the country's terms of trade is

90

Answer:

90.00

Go to Question:

Prev Question

Next Question