changing economic world - uk economy Flashcards
(60 cards)
1
Q
what is globalisation?
A
process of making a more connecte world
2
Q
pros of globalisation
A
- more connectivuty
- more trade (leading to economic growth)
- cultural exchange
- innovation and competition
- access to new markets
- improved communications
3
Q
cons of globalisation
A
- loss of secondory and primary sectors in some countries due to lots of imported goods
- emissions from transportation
- exploitation of cheap labour in LICs
- economic disparities
- over-dependence on global markets
4
Q
what are the 4 sectors of the economy (+ description)?
A
- primary (raw goods eg agriculture)
- secondary (manufacturing)
- tertiary (services)
- quaternary (reasearch and tech)
5
Q
what is a post-industrial economy?
A
one where secondary (manufacturing) sector has been replaced by tertiary (services) (and maybe quaternary - research) because the country has already bee through its industrial revolution and is now deindustrialising
6
Q
what is a growth corridor?
A
an area that follows a major transport route and is seeig the biggest economic growth happe eg M4 (between bristol and london)
7
Q
what is the M4 growth corridor and why did it develop?
A
- home to high-tech industry + lots of major companies eg intel, microsoft
- contributes to 8% of uk’s GDP
- near many unis eg oxford
- near bristol-london railway, M4, heathrow and bristol airports (good transport/trade links)
- cheaper land prices than inside london
- lots of open space/ countryside
8
Q
what effect has development of info tech had on the uk’s post-industrial economy?
A
- tech rapidly developing
- many businesses have moved to digital systems
- improved communication and efficiency
- eg 2019, 775000 employed in IT, software and computer services
- uk is one of the world’s leading digital economies
- leads to foreign investment and creates jobs
9
Q
what effect have service industries had on the uk’s post-industrial economy?
A
- secondary sector has developed
- eg 2019, contributed to 81% of uk’s economic output (compared to 46% i 1948)
- provides many jobs, boosts economy
10
Q
what effect has finance had on the uk’s post-industrial economy?
A
- important part of secondary sector
- includes banking, insurance, securities and fund management
- 2019, contributed to 7% of uk’s economic output, almost 10% of uk’s gdp
- uk is world’s leading centre for financial services
- 2019, employed 1.1 million people (provides many jobs)
11
Q
what is a science park?
A
- a group of scientific and technical knowledge based businesses located on a single site
- planned industrial complex containing quaternery industry
12
Q
what is a business park?
A
an area of land occupied by a cluster of business, can contain secondary and tertiary sectors
13
Q
what are some economic benefits of cambridge science park?
A
economic
- boosts local economy through other businesses eg cafes
- revenue £37mil/year
- astrazeneca hq built 2021 adds £16bil to economy
14
Q
what are some disadvantages of cambridge science park?
A
- drives house prives up due to increased demand
- gov should invest more money in less developed areas eg north of england
- braindrain in surrounding areas
- overcrowding + traffic congestion
15
Q
what are some social benefits of cambridge science park?
A
- supports family through onsite nursery
- leads to more connectivity and sharing or ideas
- green space leads to good working enviroment
16
Q
A
17
Q
what are some enviromental benefits of cambridge science park?
A
- 20 acres of green spave
- low density of buildings
- encurages biking (22% cycle to work) through free electric bike schemes
18
Q
why is cambridge science park located where it is?
A
- good transport links eg M11 route to london
- near cambridge uni (highly educated workforce)
- uni links mean researchers can work with science park
19
Q
what is an example of a business park in the uk?
A
cobalt business park, newcastle-upon-tyne
- next to A19 (good transport links)
- not in city centre, room to expand in the future,, less congestion
20
Q
how can industrial development be more sustainable? (6)
A
- tech to reduce harmful emissions from power stations/heavy industry
- desulphurisation
- stricter environmental targets eg clean zones
- heavy fines for pollution incidents
- conserve, protect and restore natural ecosystems
- monitor and regulate industrial regulations
21
Q
advantages of quarrying in the uk
A
- provides jobs (eg 100+ employed at torr quarry)
- £15mil to local economy/year , and tax revenue to local area
- provides building stone and cement needed to build houses to meet housing demands in the uk
- uses rail to transport (reduces pollution and congestion)
- remote rural areas also benefit from improved transport links
22
Q
disadvantages of quarrying in the uk
A
- heavy industry creating noise, visual and air pollution
- destroys habiitats
- valuable agricultural land taken away
- limestone is non-renewable so quarrying is unsustainable
- landfill and waste sites release harmful greenhouse gases eg methane
23
Q
how is torr quarry trying to become more sustainable?
A
- 60acres of land landscaped to blend in surrounding environment, creeating habitats
- transported by mendip rail network (less traffic congestion and pollution)
- 2010, decision to deepen instead of widen quarry, reduces loss of habitats
- stricter environmental targets
24
Q
why does the pharmaceuticals industry need to be made sustainable?
A
- lots of plastic packaging, and less than 10% is actually recycled
- heavily relies on water and raw goods
- pharmaceutical industry generates over 50% more carbon emissions/million dollars than automative (car) industry
- very carbon intensive industry
- relies on plants (80% registered medicines inspired/derived from plants) so if species go extinct could harm the industry
25
how is the pharmecutical industry being made more sustaiable?
- focus on sustainable packagiig and minimizing single-use plastic
- water recycling tech can reduce water consumptin by up to 50%
- shift to renewable energy to limit carbon emissions
26
how is astrazeneca sustainable?
- from 2015, on track to reduce greenhouse gas emissions by 98% by 2026
- will have planted 1mil trees in uk by 2025 to reduce carbon footprint
- switch to fully electric vehicle fleet by 2026
- will be using 100% renewable energy for heat and energy by end of 2025
27
what is a greenbelt?
open green space surrounding major cities where construction is banned by the gov to prevent urban sprawl
28
what is counter-urbanisation?
people emmigrating from urban areas to rural areas
29
example of rural population growth
south cambrideshire
population is in increasing due to counter-urbanisation
30
example of rural depopulation
outer hebridies
- population 2018 - 2019 declined by 0.4%
31
social and economic effects of rural depopulation
- less children leading to closure of schools and loss of jobs for teachers
- working population moving away leads to an aging population
- less tax revenue and struggling economy
- uk/scottish go have to provide subsidies towards cost of ferries etc
32
social and economic effects of rural population growth
- 80% car ownership leads to traffic and congestion
- highest fuel prices in the country due to high demand
- loss of agrigultural land and jobs
- commuters continue spending in city where they work instead of local area
- lack of affordable housing due to high demand
33
how succesful has the greenbelt been?
- succesful in preserving rural areas
- led to more densly populated urban areas and increased housing demand/housing shortages
- led to counter-urbanisation which can drive rural house prices up
34
what is transport?
movement of people, goods and services
35
# transport infrastructure
road - uk investment
- 2015, £15 bil investement in road improvements
- 2020, further £27 bil investment
- increase jobs and boost regional and local economies by improving trade, connectivity and reducing congestion
36
# transport infrastructure
road - case study example
A303 super highway
- £2bil investment to take place over 15yrs
- will provide construction jobs, but they are temporary (unsustainable)
- congestion eased making commuting and trade faster
- will cause disruption to commuters and trade whilst it is being built
37
what is the uk ports industry's importace and why?
largest in europe due to length of coastline and the long trading history
38
# transport infrastructure
port - uk investment
aberdeen - £350mil harbour improvements to support offshore winds
bristol (avenmouth) - £195 mil to improvee loading/unloading an d shortage
39
# transport infrastructure
ports - case study example
liverpool 2
- construction of a deep-water quay on river mersey which more than doubled port's capacity to 1.5mil containers
- cost £400 million
- created over 5000 jobs ,boosting north's economy
- reduced freight traffic on roads
- could icrease pollution in river mersey
- caused noise and air pollution in construction
40
what are the 4 main types of transport infrastructure?
1. road
2. rail
3. port
4. airports
41
# transport infrastructure
rail - case study example (HS2)
high speed 2
- £98 bil plan to connect london with birmingham, manchester
- however, the northern part didn't go forward which widened the north-south divide
42
# transport infrastructure
rail - case study example (london's crossrail)
- links reading and heathrow to shefield and abbeywood
- will bring an extra 1.5million workers within 45mins commuting distance distance from london's key business district
- will offer better national and european conections
- more people will spend in london than in local economies
43
# transport infrastructure
uk investment in airports
- annual turnover of over £60billion
- contributed £22bil to the uk
- heathrow has international links with over 400 airports in 114 countries
- heathrow> uk's busiest airport with 80mil passengers/year
44
# transport infrastructure
airport - case study example
expansion of london's airport
- new runway at heathrow (cost £18.6bil)
- will create 77000jobs
- boost local economy by £61bil
- hundreds of home will have to be demolished including entire village of longford
- noise pollution to local area
- M25 will have to rerouted
45
what is the north-south divide?
real or imagined cultural and economic difference between the south of england and the noth
46
why is there a north-south divide? (5)
1. north of the uk has higher relief and more upland regions so it is more difficult to develop
2. heavy industry was focused in wales and the north but after deindustrialisation it shifted
3. higher unemployement levels in the north due to industrialisation
4. migration to the south leads to slow population growth growth
5. lower house prices in the north due to less demand
47
what are assisted areas?
places the gov has identified that would benefit from additional help to secure business and investment to develop
48
benefits of assisted areas
- evenly distribute wealth
- creates jobs, leading to multiplier effect
- services and businesses can develop and not require future assistance
49
problems of assisted areas
- dependency on assistance
- gov could not follow through on plans
- investement may be unsustainable (eg businesses take advantage of support and then leave the area)
- resource extraction (may not help locals)
- some may be critical of gov coming in and 'taking over'
50
what is the northern powerhouse?
levelling up strategy introduced by gov in 2015, aims to help balance the wealth and influence of london and the south
51
what infrastructure developments have tried to improve the north-south divide?
- upgrade of M62 cross-penine motorway
- liverpool 2
- mersey gateway
- northern powerhouse rail project (expected to boost the economy by £14bil/year by 2060 and create 7400 jobs)
52
what is an LEP?
local enterprise partnership
53
LEP in lancashire - examples
- £6.2mil investment in lancashire energy hq in blackpool
- £12mil improvements to access and traffic flow in blackburn
- £58mil construction of preston western distributor (road linking preston and south hyde to M55)
54
how will the LEP in lancashire help reduce the north-south divide?
-2021, created 11,000 new jobs
- multiplier effect boosting lancashire's economy
- improved access to lancashire will lead to more people immigrating, further boosting lancashire's economy
- overall, boostig north's economy
55
what is the eu?
european union
- trade union with 28 countries
- uk joined 1973, left officially in 2020 after referendum in 2016
56
what positive impacts did the eu have on the uk?
- single payment scheme from eu's common agricultural policy gave dairy farmers in england and wales £18mil
- eu is biggest single market globally so encouraged uk's trade
- migrants could strengthen workforce
57
what negative impacts did the eu have on the uk?
- immigrants from poorer eu countries could lead to loss of jobs for locals
- eu laws controlling crimee, pollutiin and connsumer right's may be restrictive for uk buisnesses
- cannot act as independently in interational conferences as it was also represented by eu
58
what is the commonwealth?
- volountary group of 53 countries (mostly ex-coloies of the british empire)
- home to 2.2 bil people, 60% under the age of 30 (lots of workers)
59
what are the benefits of the commonwealth for member countries?
- global recogition and toursim at commonwealth games
- host country of commonwealth games will improve in access, transport infrastructure and overall develop
60
how does the commonwealth secretariat support the uk?
- represents commonwealth countries
- aims to help gov achieve sustainable, equitable and inclusive development
- provides advice on many issues eg human rights, social and economic development
