Terms of Trade Refers to

question 16

Multiple Choice

Terms of trade refers to

• A) the relative price at which trade occurs.
• B) what goods are imported.
• C) what goods are exported.
• D) the volume of trade.
• E) the tariffs applied to trade.

---

Definitions:

RAPID Model

A decision-making framework that clarifies roles within an organization regarding who should Recommend, Agree, Perform, Input, and Decide for effective execution of actions.

Arrange

To organize or make plans for something.

Decide

The act of making a choice or coming to a conclusion after consideration of options or evidence.

Nonprogrammed Decisions

Decisions made in response to situations that are unique, are poorly defined, and largely unstructured.