[Answer] The chart shows a circular flow model describing the movement of goods and services.How does globalization cause the foreign sector to influence the economy?

Answer: b. The foreign sector influences how imports and exports move between firms and households.
The chart shows a circular flow model describing the movement of goods and services.How does globalization cause the foreign sector to influence the economy?

Economics (/ ɛ k ə ˈ n ɒ m ɪ k s iː k ə -/) is the social science that studies how people interact with value; in particular the production distribution and consumption of goods and services . The supply and demand model describes how prices vary as a result of a balance between product availability and demand Economics focuses on the behaviour and interactions of economic agents …

Thu Dec 13 2001 13:30:00 GMT-0500 (Eastern Standard Time) · The balance of trade commercial balance or net exports (sometimes symbolized as NX) is the difference between the monetary value of a nation’s exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time.

The history of economic thought deals with different thinkers and theories in the subject that became political economy and economics from the an…

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