How did the movement in the terms of trade in the


Question: How did the movement in the terms of trade in the nineteenth century lead to the widely held view that a primary product export economy was both desirable and, in some sense, good economics? What has happened to the terms of trade for tropical commodities in the twentieth century? How does this affect the conclusion that a primary product export focus can contribute to economic development?

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Microeconomics: How did the movement in the terms of trade in the
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