Flows of services & information

Question 1

What are services?

Answer 1

Intangible products that provide something people want

Question 2

What is information?

Answer 2

Any form of data that crosses borders

Question 3

What are services divided into?

Answer 3

High level and low level

Question 4

What are high level services?

Answer 4

Services to businesses such as finance, investment and advertising

Question 5

What are low level services?

Answer 5

Banking, travel and tourism, call centres and communication services

Question 6

Which of the two divisions of services has the highest value?

Answer 6

High level services

Question 7

How have the global service flows changed between 2002 and 2014?

Answer 7

From $1.6 Trillion to $4.9 Trillion
3.1x larger

Question 8

How have service flows changed between North America and Australia between 2011 and 2014?

Answer 8

Increased

Question 9

How have service flows between North America and Latin America changed between 2011 and 2014?

Answer 9

Increased

Question 10

How have service flows changed between Eastern Europe and the Middle East between 2011 and 2014?

Answer 10

Increased

Question 11

How have service flows changed between North America and Europe between 2011 and 2014?

Answer 11

Stable

Question 12

How have service flows changed between Western Europe and Africa between 2011 and 2014?

Answer 12

Increased

Question 13

How have service flows changed between North America and North East Asia between 2011 and 2014?

Answer 13

Stable

Question 14

How have service flows changed between North East Asia and Latin America between 2011 and 2014?

Answer 14

Increased

Question 15

What are ‘footloose’ industries?

Answer 15

Industries that move easily from one place to another (e.g. IT)

Question 16

What country has the fastest growing service sector?

Answer 16

India

Question 17

What service industries does India have a lot of?

Answer 17

Software and IT

Question 18

What is India’s global offshore outsourcing business share? (%)

Answer 18

70-90%

Question 19

How much of India’s software and IT based service exports come from North America?

Answer 19

2/3rds

Question 20

How much are software and service export firms increasing by each year?

Answer 20

20-25%

Question 21

What advantages does India have?

Answer 21

Dual speakers
open market

Question 22

Why have information flows increased?

Answer 22

Migration.
Increased technology
Media

Question 23

What is demographic dividend?

Answer 23

Economic growth potentially resulting from demographic structure (working age)

Question 24

How have technological advancements made flows easier?

Answer 24

Increased access to markets.
Made outsourcing easier (FDIs) and communications (time-space convergence)

Question 25

How have transport systems changed over time?

Answer 25

In the 1800s, steam ships and trains were used. By the late 1960s, intercontinental Boeing 747 was used for cheaper air travel. Containerisation made shipping easier

Question 26

What does COSCO stand for?

Answer 26

Chinese Ocean Shipping Company

Question 27

How many containers can COSCO move per shipment?

Answer 27

13,000

Question 28

What is E-commerce?

Answer 28

Online shopping

Question 29

How has e-commerce changed over time?

Answer 29

Development of online shopping made selling products and services easier

Question 30

How have technological advancements led to the growth in remote work?

Answer 30

Led to the growth of the gig economy (online jobs) and access to a global markets

Question 31

How have technological advancements changed supply chain management?

Answer 31

Companies can manage supply chains and coordinate the production and distribution of good. E.g. tracking products