ECONOMIC DEVELOPMENT IN THE UK Flashcards
What percentage of the UKs work force is in the tertiary and quaternary industry?
83% IN 2017
How many people does retail employ in the UK?
4 million people
How many people work in IT in the UK?
670000
What are important industries in the UK?
Services
Information technology (IT)
Finance
Research
Where are science business parks located?
Outskirts of cities near housing and good transport links
Near unis so can work with uni researchers
What are the advantages of science business parks?
Can help meet demand for high-tech products
Form links with research universities
Clusters of related businesses in one place can boost each other
What are the three main causes for economic change in the UK?
De-industrialisation
Globalisation
Government politics
How has de-industrialisation changed the economy in the UK?
Other countries could produce goods much cheaper than the UK so increased competition which forced some of UKs manufacturing industries to close which led to job losses
How has globalisation changed the economy in the UK?
Manufacturing has moved overseas where labour costs are lower
Some TNCs have moved their tertiary and quaternary operations to the UK
Trade from other countries has increased
How has government politics changed the economy in the UK?
Government decisions on investment and support for business
Some government run industries have been privatised
Deregulation
What is globalisation?
Globalisation is the way the world has become more interconnected.
What is deregulation of businesses?
Removing restrictions and taxes on businesses to encourage entrepreneurs and investors to move to the UK
What impacts does industry have on the environment?
Factories may release pollutants or greenhouse gases
Running them uses lots of energy and water
Extracting raw materials can destroy habitats and release toxic chemicals
How are modern industries more sustainable now than older industrial plants?
Due to increasing energy and waste disposal costs
Stricter environmental regulations
Better awareness
How are roads being improved in the UK?
Capacity on motorways is being increased by upgrading to ‘smart motorways’ with extra lanes e.g. M4