Changing economic world Flashcards
What is the UK experiencing?
Deindustrialisation (decline of traditional manufacturing)
How much has quarternary jobs increased from 1981?
0-10%
What negatives does the UK globalising cause?
Increasing gap between high and low payed and job losses in secondary sector.
What positives does the UK globalising cause?
Migration (provides jobs), economic growth, technology increase and makes it the 6th largest manufacturer.
What does it mean for the UK as it becomes a post industrial economy?
2 million people work in IT
The finance sector provides 10% of the UK’s GNI
Describe what the north of the UK is like in terms of development.
Lots of manufacturing, slow population growth, low house price and lower employment.
Describe what the south of the UK is like in terms of development.
less manufacturing, quick population growth, high employment, higher house prices.
What is local devolution?
Having a mayor that has more control over how that area is run (e.g Manchester in Nov 2014)
How much did the government promise to the north?
£7 billion
GIve an example of infrastructure investment.
£280 million in Salford for the BBC to move there (employment grew by 142% as a result)
What is the life expectancy and unemployment for the North?
LE: 77.6
U: 5%
What is the life expectancy and unemployment for the South?
LE: 80.6
U: 3.2%
Explain fairtrade
Supports farmers allowing them to earn a fair price and added premium is used to improve their community
Explain microfinance loans.
People who have a low income are loaned money that is used to improve their business that helps the community. Everyone involved is a shareholder
Who is Muhammad Yunus?
He created the Gramee Bank and loaned to 1,000 people