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The Role of Services in an Economy
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Go to Wikipedia.com and search under the topic of "service economy." What do you make of the data plotted on the world map?
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Two color coded world maps are presented on this site: (1) CDP Composition by Sector and (2) Labour Force by Occupation. Although it is difficult to read the color key legend, the maps give a good visual indication of the spread of services throughout the world by country.
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Illustrate how the type of work that he or she does influences a person's lifestyle. For example, contrast a farmer, a factory worker, and a schoolteacher.
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A person's lifestyle is shaped by his attitude, beliefs, value, culture as well as the type of work he or she does. Person's job affects their decision making, dressing and their demand pattern.
Below table states some of the factors that are affected by an individual's work or job:
Therefore, from the above table one can conclude that an individual affects their lifestyle.
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Go to the Internet and find the percent employment in services over the past 40 years for a country not listed in Table 1.1.
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Unfortunately, the source for Table 1.1 is limited to the ten listed countries. Data on employment in other countries might be available from United Nations statistics. A Google search is in order with key words such as: service employment in "country of interest."
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Determine if the U.S. service sector is currently expanding or contracting based upon the Non-Manufacturing Index (NMI) found at ISM Report on Business on the Institute of Supply Management website: http://www.ism.ws/pubs/ismmag/.
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