Changing UK economy Flashcards
What is deindustrialisation
the decline in manufacturing industry and the subsequent growth in tertiary and quaternary employment
why has deindustrialisation occured in the UK
- machines and technology has replaced people in modern industries
- cheaper goods in other countries as labour is less expensive
what is globalisation
the growth and spread of ideas around the world
e.g. movement of cultures, people, money goods and information
What were government policies in 1945-1979
money was spent on ‘propping up’ declining UK industries
What were the government policies in 1980-2010
State run industries sold of to private shareholders to create a more compeititive business environment
Government policies 2010 onwards
‘rebalance’ the economy
- improvements to transport infrastructure (HS2)
- more investment in manufacturing industries
What are the different sectors of economy
primary - agriculture, mining, fishing etc
secondary - manufacturing
tertiary - service and retail
quaternary - research and knowledge based industries
What is a post industrial economy
where manufacturing industry declines and the corresponding development of the quaternary sector
How has information technology helped the UK move to a post industrial economy
- computers allow large amounts of data to be stored and accessed very quickly
- internet enables people to communicate instantly across the world
- many people can access to the internet using smart phones and tablets
How has information technology affected the UK economy
- more people working from home
- many new businesses involved with IT, manufacturing hardware and designing software
- UK is one of the most leading digital economies
how many people in the UK work in the IT sector
over 1.3 million
How has research helped the economy
- it employs over 60,000 highly qualified people
- estimated to contribute over £3 billion to the UK economy
- research done in British universities
- as well as by private companys and government bodies
What is the British Antarctic Survey (BAS)
research in polar regions develops understanding of the earth and human impact on its natural systems
Involves the use of ships, aircraft and research stations
What is a science park
a science park is a group of scientific and technical knowledge based businesses located on a single site
What is a business park
an area of land occupied by a cluster of businesses
Why are businesses typically located on the edges of towns and city’s
- land is cheaper
- surrounding land allows expansion of businesses
- access is better for workers and distribution (A roads, motorways, less congestion etc)
- Businesses benefit from working together