What are the definitions of three types of foreign exchange risks (i.e., transaction, translation, and economic)? Are they all resulted from movements in the exchange rates or parity among currencies? Please briefly discuss the key factors in a corporation's business model that affect one of these three types of foreign exchange risks (choose any one of transaction, translation, and economic risk to discuss).

Hint 1: This question is based on the readings: Brownlee, E. Richard II, Brendt Wilson, Leslie Grayson, and Robert M. Conroy. 1990. "Managing Foreign Exchange Risks". Harvard Business Publishing.