Question

How is the trade of services different from the trade of primary and manufacturing sectors?

Answer 1

The trade in the service sector is quite different from trade in the products of primary and manufacturing sectors as:

• The trade in services can be expanded infinitely.
• It can be consumed by many at the same time.
• It is weightless.
• Once produced it can be easily replicated.
• Thus, service trade is capable of generating more profit than producing goods.