(Services & Settlements) Key Issue 3

Question 1

What is a Global City?

Answer 1

A Major center for the provisions of services in the global economy

Question 2

what are the 3 Business Services that Concentrate in large numbers in global cities?

Answer 2

Finacial Services
Headquarters of Large Corperations
Professional Services (Lawyer + accountant)

Question 3

Financial Institutions (reason for being clustered in global cities)

Answer 3

So since global cities are a center for finance they attract headquarters of many Banks and ither financial places

Question 4

Why are Global cities and the Global economy closely related to each other?

Answer 4

Because they are both the center of information and Capital (Money)

Question 5

Headquarters of Large Corperations (reason for being clustered in global cities)

Answer 5

Global cities are the center of information and you need to obtain information in a timely way in order to buy and sell shares

Shares of these coperations are bought and sold in stock exchanges located in GLOBAL CITIES!!

Question 6

Professinal Serivces (reason for being clustered in global cities)

Answer 6

To Provide advice to major corporations and financial institions

Question 7

WHat type of Professional Services help Coporations?

Answer 7

Advertising Agencies
Marketing Firms

Question 8

Why is there a bunch of Consumer Services Clustered in Global Cities

Answer 8

1.** Because of its large Size** (cosumer serivces with extensive market areas meaning its widley available and distiributed)
2.Lots of wealthy people (More luxurious items are sold there
3.** Large threshholds and Ranges** (required for leisure activities)

Ex. ( Concerts Operas Restuarants and sporting events)

Question 9

Why is there a bunch of Public Services Clustered in Global Cities

Answer 9

1. Most Global cities are national capitals and they contain mansions for the head of the state and any other important stuructures for offices for goverment agencies
2. Offices for groups having business with the goverment (Ex .Professional Organizations +Labor Unions

Question 10

Why is New York Still a Global City even though its not a national Capital?

Answer 10

Its Home to the World’s Major International Organization the United Nation (UN) So it attracts diplomats and employees with business at the UN

Beligum is global city because it is the most important center for European Union Activites

Question 11

What are the 3 levels Global Cities are divided into?

Answer 11

Alpha
Beta
Gamma

Question 12

What are the Factors used to idenifiy and Rank global Citites

Answer 12

Economic Factors
Political Factors
Infrastructure Factors
Cultual Factors
Communication
T ransportation

Question 13

Descibe Economic Factors

Answer 13

Number of Serivces that influence the global economy

Question 14

Describe Political Factors

Answer 14

• Hosting Headquarters for International Events
• Capital of Country play a Leading Role in international events

Question 15

Describe Infrastructure Factors

Answer 15

• Major International buildings (Ex. Hospitals Aiports)
• Advanced Communication Systems

Question 16

Describe Cultural Factors

Answer 16

Presenece of Influencial Media Outlets, Sports Facilities and Cultual institutions

Question 17

Describe Communications Factors

Answer 17

Communicate Immedietly with coworkers, clients, and customers around the world (because pf phones and computers)

Question 18

Describe Transportation Factors

Answer 18

Vehicles, Railroads, and Airplanes made it possible to deliver people, inputs, and products quickly.

Modern transportation and Communication enables industry to decentralize (which means to distribute power or athoutirty away from cental authority

Question 19

What 2 distintive types of Business Services do developing Countries specialize in?

Answer 19

Offshoring + Back-Office Functions

Question 20

Why Does Offshoring + Back-Office Functions locate in developing Countries

Answer 20

• Low wage workers
• Supportive Laws
• Weak Regulations

Question 21

What type of Countries exploit niches in the world of a lobal capital by offering Offshoring and Back- Ofiice Functions?

Answer 21

Small Countries Usually islands and MicroStates

Question 22

What are the 2 important functions in the global circulation of capital that Offshoring Centers Provide?

Answer 22

• Low or Non-Existent Taxes on income, profits, and capital gain
• Privacy- Bank secrecy laws can help people and businesses protect some of their assests from creditors
  (because of these functions the extent of whats legal and whats illegal is unknown)

Question 23

What is 1 Organization that maintain lists of offshore financial services centers?

Answer 23

The International Monetary Fund

Question 24

What are the names of the offshore financial service centers?

Answer 24

• Dependencies of the UK
• Dependencies of countries othen than the UK
• Independent Island Countries
• Independent Countries that are not islands

Question 25

Examples of Dependencies of the UK (offshore centers)

Answer 25

1. Ilse of Man
2. Jersey in the english channel