economic change

Question 1

what is structural economic change

Answer 1

a dramatic shift i the way a country operates, usually brought on by major economic or technical developments

Question 2

what 6 factors can spark structural change

Answer 2

technological innovation
global shifts in pools of capital and labour
changes in political landscape
new economic developments
changes in resource availability
changes in supply and demand of resources

Question 3

what is decentralised production

Answer 3

production happening in different places which specialise in various aspects of the production process
e.g. vehicle manufacturing - one country makes engine, another makes windows etc.

Question 4

why is decentralised production possible

Answer 4

due to improvements in communication and transportation

Question 5

what is the Clarke Fisher Model

Answer 5

model which aims to show the general changes in a country’s economic sectors through a period of time

Question 6

what are the limitations of the Clarke Fisher Model

Answer 6

speed of development varies between places
no indication of what happens next
one size doesn’t fit all - tourism can lead counties to bypass the industry stage.

Question 7

what is cyclical economic change

Answer 7

the frequent periods of growth (“boom”) and recession (“bust”) that most economies experience.

Question 8

what do boom and bust cycles involve

Answer 8

1 - rapid economic growth and inflation (a boom) followed by:
2 - a period of economic contraction/recession (falling GDP, rising unemployment) a bust

Question 9

what causes cyclical economic change

Answer 9

changes to supply and demand

Question 10

what does the money people choose to spend affect

Answer 10

the economy

Question 11

what influences what people spend their money on

Answer 11

government policies, actions of banks and general confidence in a country

Question 12

what happened in 2008 - economic change

Answer 12

the global financial crisis

Question 13

what did the global financial crisis trigger in the UK

Answer 13

the conservative government to loan £137 billion to banks however they then had to reduce public spending

Question 14

what 3 things did reducing public spending lead to

Answer 14

cuts and freezes to benefits
reduced arts and culture grants
public sector pay freezes and redundancies

Question 15

in Britain what do more deprived areas have (public sector)

Answer 15

a larger workforce in the public sector

Question 16

what does a larger workforce in the north mean (2008 global crisis)

Answer 16

that in the north they rely more on public sector jobs - so they had disproportional negative effects which widen the north south divide creating further regional inequalities.

Question 17

what amount of cuts did London receive (2008 global crisis)

Answer 17

£3.9 bn - 30% of national total

Question 18

how big were the cuts in Liverpool (2008 global crisis)

Answer 18

hit with the deepest cuts per person (£816 a head)

Question 19

which chains closed down on high streets due to 2008 global crisis

Answer 19

Woolworths, Dixons and BHS -as they couldn’t adapt to harsh trading conditions

Question 20

how many High streets were still suffering from the 2008 global crisis in 2017

Answer 20

25% of all highstreets in the UK

Question 21

which places had the most high street shop closures due to the 2008 global crisis

Answer 21

Blackpool - had the greatest negative impact

Question 22

what is a terminal town

Answer 22

places with the worst performing high streets. They are struggling to find either public or private finance to spur future growth

Question 23

what happens when towns reach the tipping point in high streets

Answer 23

when the tipping point is reached they are sent into a downward spiral from which recovery is unlikely

Question 24

how is change brought about (at any scale)

Answer 24

by players (stakeholders)

Question 25

what is a player

Answer 25

an individual, group of people or formal organisations who can influence or can be influenced by, the processes of change.

Question 26

do some players have more power

Answer 26

yes some players have more power or influence than others, especially in economic terms.

Question 27

what are the three public sector players

Answer 27

trans-national governments
national governments
local governments

Question 28

what is a trans-national government

Answer 28

an international group which include representatives from national governments. e.g. the EU

Question 29

what is a national government

Answer 29

have departments and agencies responsible for strategic planning such as education and training, major transport links and environmental management.

Question 30

what is a local government

Answer 30

similar responsibilities to a national government but carries out planning and implementation on a local scale

Question 31

what does the private sector players often provide

Answer 31

economic investment towards driving economics change

Question 32

what are the private sector players primary aims

Answer 32

to generate money to make a profit on their investment

Question 33

what are the two private sector players

Answer 33

local communities
non-governmental organisation (NGO’s)

Question 34

what are local communities

Answer 34

generally concerned about their immediate area, these can resident, heritage or digital groups. They are interested in economic change it also social and environmental matters.

Question 35

what are non-governmental organisations (NGO’s)

Answer 35

tend to have a particular focus. Some are small groups while others cover the whole country e.g. National Trust