Economic Change

Question 1

structural economic change

Answer 1

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

Question 2

cyclical economic change

Answer 2

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

Question 3

Structural economic change

Answer 3

Structural change is often sparked by technological innovation, new economic developments, global shifts in the pools of capital and labour, changes in resource availability,changes in supply and demand of resources, and changes in the political landscape.

Question 4

Decentralised production

Answer 4

referring to production happening in different places which are specialised in various aspects of the production process. This is most commonly seen in motor vehicle manufacturing where the chassis may be produced in one country whilst the engine in another

Question 5

Player

Answer 5

Individuals, groups of people, or formal organisations who can influence, or can be influenced by, the processes of change. Some players have more ‘power’ or influence than others, especially in economic terms

Question 6

PLAYERS: Public sector

Answer 6

Trans-national governments-e.g. The EU
National governments
Local governments

Question 7

PLAYERS: Private sector (Profit-based)

Answer 7

Businesses range from Trans-national corporations (TNCs) to national companies, through to small-scale and self-employed businesses.

Question 8

PLAYERS: Private sector (Non-profit based)

Answer 8

Local communities
Non-governmental organisations (NGOs)