service economy

Examples of service economy in the following topics:

• The Dynamics of Poverty

  • Sociologists have argued that the economic restructuring of the U.S. and other developed nations from manufacturing to service-based economies has led to chronic joblessness in inner cities.
  • In a service economy, there is a higher proportion of high-skill jobs than in a manufacturing economy.
  • Thus, people who have lost their manufacturing positions are unqualified for the jobs available in the new economy.
  • People who are homeless or live in slums have low access to neighborhood resources, high status social contacts, or basic services such as a phone line.

• The Economy

  • Economies can be divided into formal economies and informal economies.
  • A formal economy is the legal economy of a nation-state, as measured by a government's gross national product (GNP), or the market value of all products and services produced by a country's companies in a given year.
  • A market is a central space of exchange through which people are able to buy and sell goods and services.
  • In a capitalist economy, the prices of goods and services is mainly controlled through the principles of supply and demand and competition.
  • "Supply and demand" refers to the balancing of the amount of a good or service produced and the amount available for sale .

• Work and Technology

  • Examples of service sector jobs are jobs in the medical services sectors, teachers, lawyers, and sales representatives.
  • Examples of service sector jobs are jobs in the medical services sectors, teachers, lawyers, and sales representatives.
  • Automation plays an increasingly important role in the world economy and in daily experience.
  • In general, automation has been responsible for the shift in the world economy from industrial jobs to service jobs in the 20th and 21st centuries.
  • The service sector consists of the "soft" parts of the economy—activities where people offer their knowledge and time to improve productivity, performance, potential, and sustainability.

• History

  • Economy refers to the ways people use their environment to meet their material needs.
  • It includes the production, exchange, distribution, and consumption of goods and services of that area.
  • As long as someone has been making and distributing goods or services, there has been some sort of economy; economies grew larger as societies grew and became more complex.
  • The ancient economy was mainly based on subsistence farming.
  • In Medieval times, what we now call economy was not far from the subsistence level.

• Informal Economy

  • This is in contrast to the formal economy; a formal economy includes economic activity that is legal according to national law.
  • Formal economy goods may be taxed and are included in the calculation of a government's gross national product (GNP), which is the market value of all products and services produced by a country's companies in a given year.
  • All economies have informal elements.
  • This video describes how the informal economy fails to provide some of the same social benefits as work in the formal economy.
  • Analyze the impact of the informal economy on formal economy, such as the black market or working "under the table"

• Multinational Corporations

  • A multinational corporation (MNC) is a business enterprise that manages production or delivers services in more than one country.
  • A multinational corporation (MNC) or multinational enterprise (MNE) is a corporate enterprise that manages production or delivers services in more than one country.
  • Multinational corporations can have a powerful influence in local economies, and even the world economy.
  • These patents often allow multinational corporations to exercise a monopoly in the local economy, preventing local enterprises from developing.
  • Multinational corporations play an important role in the world economy through the process of economic globalization; in other words, the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology and capital.

• Preindustrial Societies: The Birth of Inequality

  • Pre-industrial typically have predominantly agricultural economies and limited production, division of labor, and class variation.
  • The economy was based mostly on agricultural production.
  • The economy was based on the exchange of labor for land instead of the exchange of wages for labor that is typical in industrial society.
  • Feudal lords were landowners; in exchange for access to land for living and farming, serfs offered lords their service or labor.
  • Discuss the different types of societies and economies that existed during the pre-Industrial age

• Capitalism in a Global Economy

  • The term "world economy" refers to the economic situation of all of the world's countries.
  • It is common to limit discussion of world economy exclusively to human economic activity.
  • World economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult.
  • Today, these trends have bolstered the argument that capitalism should now be viewed as a true world system, given that all national economies trade with capitalist states and are therefore influenced by capitalist policies.
  • It is generally used to refer to economic globalization: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import quotas; and the reduction of restrictions on the movement of capital and on investment.

• The Importance of Paid and Unpaid Work

  • Although we usually think of work as paid, unpaid work is equally important to the economy.
  • An hourly worker is an employee paid an hourly wage for their services, as opposed to a fixed salary.
  • Hourly workers may often be found in service and manufacturing occupations, but are common across a variety of fields.
  • Generally, the internship is an exchange of services for experience between the student and his or her employer.
  • Though unpaid, this domestic work is crucial to the economy: it keeps workers alive and healthy and helps raise new generations of workers to keep the paid economy running.

• Least Industrialized Countries

  • Samoa has been characterized as a least developed country by the UN because of its small economy and the vulnerability of its agricultural industry.
  • While LDCs can expand their economies and improve standards of living, they are vulnerable to economic setbacks and often require international support.
  • Economic vulnerability, based on instability of agricultural production, instability of exports of goods and services, and a high percentage of population displaced by natural disaster, for example.
  • The UN uses such specific standards for defining LDCs because the UN provides support and advocacy services to LDCs.
  • They participate in the world economy, but do not greatly benefit from it.