CSMP: 3.b Economic Change Flashcards
1
Q
Role of Globalisation
A
- lead to an increase in the flow of ideas, capital goods, people
- driven by economic change across the globe
- key players = TNC and nation states
- economic restructuring decreased employment in the primary and secondary sector , but increased the employment in tertiary and quaternary sectors
2
Q
Impact of structural economic change
A
- lead to de-industrialisation (mine and factory closure)
- increase in ill health due to compact living conditions
- factory skills weren’t transferable to the growing service sectors
(lead to abandoned and derelict buildings) - multiplier effect
- globalisation has lead to greater international investment
3
Q
Multiplier effect
A
- training and employment grew
- increase in local economy
- increase in investment
- cyclical effect
4
Q
Booms and Recessions
A
- over time places grow and decline and it impacts social opportunities and inequalities
- interconnected cycles
5
Q
Boom
A
- linked to technological innovation with new industries providing the basic of the boom
- part the multiplier effect
6
Q
Recession
A
- once the technology is no longer “new” fewer opportunities for growth exist and this causes a recession
- leads to unemployment and bankruptcies and decrease in household spending
7
Q
Role of government
A
- Transnational companies e.g EU
- National Government = UK
- play a major role in allocation of resources and seek to decrease the extremes of poverty and inequality
8
Q
UK Government
A
- aims to tackle social inequality
9
Q
Methods to reduce social inequality
A
- taxation (take from rich to give to poor)
- subsidies (free school meals)
- planning ( organised geographically)
- law (racism, ethnic and gender)
- education (increase skill level)
10
Q
UK money is divided up into 3 major section..
A
- pensions
- health care
- education and welfare
