[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?

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?

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.

Balance of Trade (BOT) Definition – Investopedia

Socialist economics comprises the economic theories practices and norms of hypothetical and existing socialist economic systems. A socialist economic system is characterized by social ownership and operation of the means of production that may take the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit.

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