Terms of Trade | Gross TOT, Net TOT, Income TOT Explained Simply | UGC NET Economics 2025

Strengthen your UGC NET Economics 2025 preparation with this clear, conceptual explanation of Terms of Trade (TOT) — a high-frequency topic in International Economics – Unit 6.

This video gives crisp definitions of:
✔ Gross TOT
✔ Net TOT
✔ Income TOT
✔ Meaning of increase/decrease in TOT

Perfect for MCQs, Assertion–Reason questions, and PYQs.

📘 What You Will Learn:
1️⃣ Gross Terms of Trade (GROSS TOT)

Ratio of price of export goods to price of import goods × 100.
Indicates how export prices compare to import prices.

2️⃣ Net Terms of Trade (NET TOT)

Ratio of export prices to import prices for a specified commodity.

3️⃣ Income Terms of Trade (INCOME TOT)

= Gross TOT × Quantity index of exports
Measures the purchasing power of exports.

📌 Key Insight

An increase in TOT → More imports can be purchased with the same volume of exports.
A decrease in TOT → Export purchasing power declines.

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Видео Terms of Trade | Gross TOT, Net TOT, Income TOT Explained Simply | UGC NET Economics 2025 канала Ugc Net PYQ