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Q.

[[1]]  types of flows within international economic exchanges.


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Detailed Solution

The three types of flows were identified within international economic exchanges in the 19th century by economists: the flow of trade, the flow of labour, and the movement of capital.
  • The flow of trade: this trade primarily refers to the exchange of goods. For example, wheat travelled from Russia, America, and Australia to Britain.
  • The flow of labour generally refers to the situation when people migrate in search of employment. For example, more than 50 million people migrated from Europe to America and Australia in search of employment.
  • The movement of capital: This covers the movement of capital for either short-term or long-term investments over long distances.

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    [[1]]  types of flows within international economic exchanges.