What are the different types of services included in international trade?

Economics Balance Of Trade Questions



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What are the different types of services included in international trade?

The different types of services included in international trade are:

1. Transportation services: This includes the movement of goods and people across borders, such as shipping, air transport, and logistics services.

2. Tourism and travel services: This includes services related to tourism, such as accommodation, transportation, and entertainment for international travelers.

3. Financial services: This includes services provided by banks, insurance companies, and other financial institutions, such as foreign exchange, investment banking, and insurance services.

4. Communication services: This includes services related to telecommunications, such as international phone calls, internet services, and data transmission.

5. Business services: This includes a wide range of services that support international trade and investment, such as legal services, consulting services, advertising, and market research.

6. Construction and engineering services: This includes services related to construction projects and infrastructure development, such as architectural design, engineering, and project management.

7. Education services: This includes services provided by educational institutions to international students, such as tuition fees, accommodation, and language training.

8. Health and medical services: This includes services related to healthcare and medical tourism, such as medical consultations, surgeries, and wellness treatments.

9. Entertainment and cultural services: This includes services related to the entertainment industry, such as film production, music, and cultural performances.

10. Personal and professional services: This includes services provided by individuals, such as personal care services, legal advice, and accounting services.