Deck 11: Services: Going Global

Question 1

"Services" (food service, healthcare, accounting, law, etc.) have often been seen as necessarily produced and consumed in the same places. Why has this changed?

A) new technologies have "shrunk" distance between faraway producers and local consumers
B) services have become less important
C) the distinction between services and manufacturing has been overblown
D) rising incomes have encouraged the spread of services worldwide

Answer 1

A

Question 2

At one time growth in service employment was seen as replacing manufacturing jobs. But this need not be the case because:

A) manufacturing needs services
B) many services are encapsulated in manufactured goods
C) service jobs have grown because people do less for themselves
D) many services have little to do with manufacturing

Answer 2

B

Question 3

Growth in services as a share of national GDP has been highest recently in:

A) the United States
B) semi-peripheral economies such as India and China
C) Latin America
D) Western Europe

Answer 3

B

Question 4

Big retailers such as Walmart have "gone global." Which type of country has seen the highest rate of growth in new Walmart stores since the 1990s?

A) developed countries such as Canada
B) semi-peripheral countries such as China and Brazil
C) the United States
D) poorer countries such as Indonesia

Question 5

Offshore banking and finance have seen major growth in the world economy since the 1970s. Major clusters occur in different time zones associated with different major financial centres. Which cluster is most associated with Tokyo's stock exchange and banks?

A) Caribbean
B) the Gulf
C) South Pacific
D) Europe