Sectoral Analysis III: Services (Tertiary) Sector
What are the twelve primary services in the services sector according to the WTO (World Trade Organization)?
According to the WTO (World Trade Organization), the twelve primary services in the services sector are business services, communication services, construction and related engineering services, distribution services, educational services, environmental services, financial services, health-related and social services, tourism and travel-related services, recreational, cultural and sporting services, transport services, and other services not included elsewhere.
What kind of services cannot be transported?
Services like tourism, travel, recreational, or cultural services cannot be transported because they are bound to the place where the facilities are.
How the sectors are divided in the quaternary sector model?
The quaternary sector model divides the economy into four: the primary sector (the extraction of raw materials), manufacturing, tertiary (services), knowledge-related activities.
When the tertiary sector becomes the main contributor to the GDP?
When the country becomes a developed country, the main contributor to the GDP becomes the tertiary sector.
What is “exogenous demand shock hypothesis”?
“Exogenous Demand Shock Hypothesis” states that there is a change in an exogenous variable, which causes an increase in the total demand for services. For example, the rise in female participation in economic activities; especially the period after World War II.
What is “Engel’s Law”?
Engel’s Law states that income elasticity of demand for foods is between 0 and 1, and income elasticity of demand for services is greater than 1.
The exports of which sector of Turkey is the highest in recent years?
The exports of travel sector is the highest in Turkey with about 25 billion US dollars in 2018.
What services does the technical testing market include?
The technical testing market includes services such as technical inspection, automotive testing, composition, and purity testing.
Which is the smallest sector of information technology among hardware, software and services in Turkey?
Information technology services sector is the smallest sector in information technology sector with respect to turnover.
What is the Law No. 4691 about in Turkey?
The Law No. 4691 is the law on technology development zones in Turkey enacted in 2001.
What are the institutions of the Ministry of Industry and Technology supporting R&D activities in Turkey?
The institutions of the Ministry of Industry and Technology supporting R&D activities in Turkey are The Scientific and Technological Research Council of Turkey (TÜBİTAK), Small and Medium Industry Development Organization (KOSGEB), and Development Agencies.
What is the nationality of foreigners buying houses in Turkey the most in recent years?
Foreigners buying houses the most in Turkey are Iraq citizens.
What is the amount of investment on real estate for a foreigner in order to have the right to apply for Turkish citizenship?
A foreigner making an investment of 250 thousand US dollars on real estate gets the right to apply for Turkish citizenship.
When and by how many countries was The Universal Postal Association (UPU) established?
The Universal Postal Association (UPU) was established in 1874 by 22 countries, including Turkey.
What kind of services is provided by communication services sector?
The services provided by communication services sector are postal services, the telecommunication services, and construction services.
What is franchising?
The franchising is a set of long-term and continuous business relationships that arise from a franchise of a product or service that the franchisor grants to the second party to carry out commercial business by providing information and support on the management and organization of the business within a specified period.
What year and why was the Council of Higher Education (YÖK) established?
The Council of Higher Education was established in 1981 to plan, coordinate, and management of public higher education institutions in Turkey.
Why do international patients prefer Turkey to get health services?
International patients prefer Turkey because of quality technological infrastructure and cheaper treatment.
How popular is Turkey as a tourism destination?
According to UNWTO in. 2016, Turkey was the 10th most popular tourist destination in the world.
What is the feature of a quaternary economy?
The main feature of a quaternary economy is that the most contribution to GDP is provided by knowledge-based services.