Explain the three types of movement or flows within international economic exchange that economists have identified
Answers
The three types of movements or flows within the international economic exchange are trade flows, human capital flows and capital flows or investments. These can be explained as-the trade in agricultural products, migration of labour, and financial loans to and from other nations,
(I) The flow of trade (trade in goods, e.g. cloth or wheat): India was a hub of trade in the pre-modern world, and it exported textiles and spices in return for gold and silver from Europe. Many different foods such as potatoes, soya, groundnuts, maize, tomatoes, chilies and sweet potatoes came to India from the Americas after Columbus discovered it.
Explanation:
The three types of movements or flows within the international economic exchange are trade flows, human capital flows and capital flows or investments.