global flows - services Flashcards
what are services?
they are economic activities that are traded without the production of material goods
financial and insurance services
how did deregulation of financial markets help services?
allowed services such as banks to become more globalised spreading across the globe without national borders
what are the two sub categories of services?
high level
low level
what are high level services?
services to businesses such as finance, investment and advertising
what are low level services?
services to consumers such as banking travel, call centres
why are services known as being footloose?
they can locate anywhere in the world generally and still communicate with its customers
where are high level services usually loacted/
in developed countries and capital cities
where are low level services located and what are some examples?
to developing countries
most call centres in the uk have now been moved to india due to low labour costs
