cyclical economic change

Question 1

Blythe

Answer 1

factory in NE
£100 mil invested in EV batteries
positive multiplier effect

Question 2

booms and recessions

Answer 2

50 year cycle of growth and decline
new technology, innovation investment: boom
technology becomes outdated, job loss, stagnation: recession

Question 3

differences economic change in rural vs urban

Answer 3

greater multiplier effect in rural areas
higher capacity to support technological innovation

Question 4

difference between individual capacity to cope with boom and recession

Answer 4

more highly educated are more able to cope
non-essential industries e.g. res

Question 5

Kondratieff cycles

Answer 5

waves of innovation
currently on the 6th wave focused on sustainability
3rd wave was global shift and outsourcing

Question 6

uk investment in net zero

Answer 6

plans to invest £.14 trillion by 2050

Question 7

ULEZ

Answer 7

ultra low emission zone
covers 380km2

Question 8

6th wave of innovation examples

Answer 8

By 2030 ban sale of fuel cars
Subsidies for solar power
Incentives for electric cars

Question 9

Why Silicon Valley is leading innovation

Answer 9

High levels of connectivity between leading education institutes, tech companies, highly trained workforce and venture capitalists

Question 10

General Silicon Valley info

Answer 10

Contains 30companies in the fortune 1000
3rd largest GDP of any area globally
Stanford University
Meta, EBay, Netflix, Twitter etc

Question 11

2007-2008 UK recession

Answer 11

Caused by the credit crunch (2007-2008) where global banking system became short of funds, leading to a decline in confidence and in bank lending

Question 12

2020 UK recession

Answer 12

Lockdown due to pandemic
Leisure industry closed
Unemployment
Limited global trade due to border closing
400,000 and the number of people who were economically inactive rose by 327,000.

Question 13

2020 UK recession: role of the government