changes in the UKs economy Flashcards
what is deindustrialisation
the decline in traditional industries such as manufactrning, due to a replacement of technology and other countries providing cheap labour
what is globalisation
the growth and spread of ideas around he world
-due to increased world trade and cheaper imported products
what is a post industrial economy
where manufacturing industry declines and is replaces by the tertiary and quaternary sector
in 2019 how many people were employed in IT-related industries
775,000
in 2019 what percentage of economic output came from service industries and finance
81%
how many people does the UK research sector employ
250,000
what is a science park
a group of scientific and technological based businesses located on a single site
how many businesses does the university of Southampton science park have
100
what are the benefits of the Southampton science park
-good transport links (m3, Southampton international airport and rail links)
-links with university
-good location and green areas
what is a business park
an area of land occupied by businesses
why are business parks usually on the edges of towns
-land is cheaper and more available
-access is better with less congestion
-businesses can benefit from working together
what is an example of a business park
cobalt business park, Newcastle upon tyne
what do businesses in cobalt park qualify for
governmental assistance
what transport links do cobalt business park have
-next to A19
-close to A1
-20 minutes from international airport
what are 3 examples of businesses in the cobalt business park
-santander
-siemens
-IBM