Q. ‘Terms of trade’ between agriculture and industry has reference to?
Answer: Relative international valuation of the agricultural produce in contrast to the industrial produce
Notes: Terms of trade between agriculture and industry can be thought of as the ratio of prices of agricultural products to that of prices of industrial products. This is analogous to International Terms of Trade that are given by the formula: (Price of exports)/ (price of imports).

This question is part of 40000+ General Studies MCQ Series Course on GKToday Android app. Question Number: 13 in 3. Economies: Types, Sectors, Branches in above course in App.