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Q.

Three types of flows were capital, products and ____.


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Detailed Solution

Three types of flows were capital, products, and labour.
Economists have distinguished three kinds of 'flows' in global economic transactions. All three flows had an impact on people's lives and were interconnected. However, the links could occasionally be disrupted; for instance, labour migration was frequently subject to harsher restrictions than capital or product flows. In the nineteenth century, the first type of movement or flow within international economic exchange was generally referred to as trade in goods. The second sort of movement or flow within global monetary exchange was thought to be people moving in search of jobs. The third is the long-distance transfer of capital.
 
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