The service sector has been subject to the following social changes:

Increased life expectancy has created more demand for services for senior citizens.

Jobs related to tourism and leisure activities have increased due to shorter working hours and paid holidays.

The incorporation of women into the labour force has created a need for more childcare and services or products that reduce housework.

Decreased life expectancy has created more demand for services for senior citizens.

Jobs related to tourism and leisure activities have decreased due to shorter working hours and paid holidays.

Tertiary sector activities have the following characteristics:

They are intangible and immaterial.

They are expanding in all countries.

They aren´t close to the consumer.

Tertiary sector activities have the following characteristics:

They have unequal distribution.

They have a low level of mechanisation.

They have a high level of mechanisation.

the sale of products made domestically

the purchase of products made in a different country

The balance of trade can be positive when...

the value of exports is higher than the value of imports

the value of goods sold to other countries is higher than the value of goods bought from other countries

the value of imports is higher than the value of exports

the value of goods bought from other countries is higher than the value of goods sold to other countries

The balance of payments ...

is a record of all monetary transactions between a country and the rest of the world.

includes trade but also includes services such as tourism and transport as well as capital, i.e. financial transactions.

can be in surplus and in deficit

is the difference between the value of goods that a country exports and those that imports.

The balance of payments is in deficit…

when a country's expenditure is higher than its income.

when a country's income is higher than its expenditure.

Currently Spain has...

a balance of payments in surplus.

a balance of payments in deficit.

Characteristics of international trade...

requires different types of transport to carry large loads efficiently and at reasonable prices.

creates an international network of trading partners.

provides work for the active population.

involves moving large quantities of diverse goods to scarce populated areas in different parts of the world .

is carried out by an increasingly illimited number of companies.

Africa, parts of Asia and Latin America ...

are the least developed regions.

use older production techniques and make cheaper, lower-quality products.

have no control over global prices.

are capable of starting their own initiatives.

use their influence to control prices on the world market.

North America, Japan and the European Union...

are the world's most developed regions.

use their influence to control prices on the world market.

use modern production techniques to make high-quality, expensive products.

have some of the functions and activities of the most developed regions.

are capable of starting their own initiatives.

The least developed regions can only grow if they have capital to invest in infrastructure, services and machinery. They get capital by borrowing money from developed countries. Many of these countries cannot pay the interest on their loans which prevents their economies from growing. To solve this problem, many people believe that we need to:

cancel the external debt of the poorest countries.

cancel the external debt of the richest countries.