Changes in the UK Economy Flashcards
What is deindustrialisation?
Deindustrialisation is the decline of manufacturing industries due to automation, global competition, and resource depletion.
What sectors have replaced manufacturing in the UK?
The UK now has a post-industrial economy dominated by the service and quaternary sectors.
How has manufacturing employment changed in the UK?
Manufacturing jobs have declined, while service sector jobs have increased.
Why did the UK’s coal and steel industries decline?
Coal and steel declined due to cheaper imports, high labor costs, and stricter environmental regulations.
What is the service sector?
The service sector includes jobs that provide services rather than goods, such as finance, retail, and healthcare.
What percentage of the UK’s workforce is employed in services?
Over 80% of UK jobs are now in the service sector.
What is the quaternary sector?
The quaternary sector involves research, development, IT, and high-tech industries.
What impact has globalization had on the UK economy?
Globalization has increased trade, attracted foreign investment, and led to outsourcing of jobs.
What are some negatives of globalization for the UK?
Globalization has led to job losses in manufacturing, economic inequality, and dependence on global markets.
How is the UK government encouraging economic growth?
The government is investing in infrastructure, science parks, and financial incentives for businesses.
