Explain the meaning and significance of the following terms used in international trade.
a)Depreciation of the currency of a country:
b)Deterioration of terms of trade of a country
c)Balance of payment on current account
d)Bill of lading

Answer:

a)Depreciation of the currency of a country:
-The falling of the price/exchange rate of a country currency against foreign currency due to free forces of demand and supply
-Significance:Make export cheaper/imports more expensive which may scare investors
b)Deterioration of terms of trade of a country
-Is the decreasing rate at which a country

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Explain the meaning and significance of the following terms used in international trade.
a)Depreciation of the currency of a country:
b)Deterioration of terms of trade of a country
c)Balance of payment on current account
d)Bill of lading