Flows of Services Flashcards
1
Q
what are the flows of services?
A
these are activities which are traded without the physical production of goods
2
Q
what are the examples of high level services?
A
finance, investment or insurance
3
Q
what are the examples of low level services?
A
banking, travel and tourism, communication services
4
Q
where are the high level services located?
A
they are concentrated in a few HIC cities e.g. london, new york and tokyo as they are all global financial centres, and they are also in hong kong, singapore, seoul and singapore
5
Q
where are the low level services located?
A
they are often decentralised to LICs because wage rates are lower
