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

Accepted Answer

New technologies such as telecommunication and transportation have made it possible for services to be produced in one location and consumed in another, regardless of the distance between the two. This has resulted in changes in the way services are produced and consumed.

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

Accepted Answer

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

Accepted Answer

Semi-peripheral economies such as India and China have experienced the highest growth in services as a share of national GDP in recent years, as they shift from a manufacturing-based economy to a service-based one.

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

Accepted Answer

Walmart has seen the highest rate of growth in new stores in semi-peripheral countries such as China and Brazil since the 1990s. These countries have large populations and growing economies, leading to increased demand for affordable goods from retailers like Walmart.

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

Accepted Answer

The South Pacific cluster is most associated with Tokyo's stock exchange and banks due to its close proximity to Japan and historical ties to the country. This cluster includes countries such as the Cook Islands, Vanuatu, and Samoa, which have become popular locations for offshore companies and banks.

Quiz 11: Services: Going Global

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

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

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

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?

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?