Causes Of Economic Change Flashcards
What does deindustrialization mean
A process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially heavy industry or manufacturing industry
What is globalisation
Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange
Advantages/positives of globalisation
Globalisation has increased the production of goods and services. Globalisation has resulted in:
increased international trade
a company operating in more than one country
greater dependence on the global economy
freer movement of capital, goods, and services
recognition of companies such as McDonalds and Starbucks in LEDCs
Disadvantages of globalisation
Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries. The role of LEDCs in the world market is mostly to provide the North and West with cheap labour and raw materials.
Further disadvantages of globalisation
Industry may begin to thrive in LEDCs at the expense of jobs in manufacturing in the UK and other MEDCs, especially in textiles.
An absence of strictly enforced international laws means that TNCs may operate in LEDCs in a way that would not be allowed in an MEDC. They may pollute the environment, run risks with safety or impose poor working conditions and low wages on local workers
What parks are helping the uk move into a post industrial era
Business and science parks
What is the service Industry
An industry made up of companies that primarily earn revenue through providing intangible products and services.
Service industry companies are involved in retail, transport, distribution, food services, as well as other service-dominated businesses. Also called service sector, tertiary sector of industry.
How modern industrial can be more environmentally sustainable.
Quarries are an example of a modern industry. These can be made more environmentally sustainable by blending land in the quarry with surrounding environment and holes created by quarrying have been made into small ponds to boost wildlife and help the surrounding area of the quarry house more fish and look natural.
What parks are helping the uk move into a post industrial era
Business and science parks
What is the service Industry
An industry made up of companies that primarily earn revenue through providing intangible products and services.
Service industry companies are involved in retail, transport, distribution, food services, as well as other service-dominated businesses. Also called service sector, tertiary sector of industry.
How modern industrial can be more environmentally sustainable.
Quarries are an example of a modern industry. These can be made more environmentally sustainable by blending land in the quarry with surrounding environment and holes created by quarrying have been made into small ponds to boost wildlife and help the surrounding area of the quarry house more fish and look natural.
