Service and Goods – Summarize Spoken Text

PTE SST – Service and Goods

The journey of globalization has been far smoother for goods than for services. The lack of globalization in your job can be attributed to the challenges involved in transporting services across borders, which is more complicated than shipping goods. This difference comes down to a fundamental characteristic: services face difficulties in crossing borders due to the inherent nature of their delivery. We can understand this through two main arguments. First, many services require the physical presence of both the provider and the buyer at the same location and time. Second, overcoming the technical obstacles of bringing service providers from one country into contact with service buyers from another country has limited the globalization of services, compared to the globalization of goods. Thus, the focus of globalization has predominantly been on the production of physical goods rather than service-related activities. However, this old limitation is rapidly disappearing. The advent of digital technology is revolutionizing this landscape by enabling individuals in one nation to easily conduct activities in another.

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