Economic World - UK

Question 1

how uk economy changed

Answer 1

• in 1841 manufacturing was dominant (22%)
• in 2011, 80% was in services
• 2011 - 2% agri

Question 2

mechanisation

Answer 2

machines & tech have replaced many ppl in modern industries

Question 3

globalisation

Answer 3

growth & spread of ideas around the world

Question 4

globalisation advantages

Answer 4

• economic growth
• cheaper goods & services
• foreign investment brings jobs & ideas
• high-value production - better paid jobs
• migration - fills jobs services

Question 5

globalisation disadvantages

Answer 5

• less manufacturing leading to job loss
• outsourcing jobs means job loss
• inequality - greater gap between skills & unskilled workers

Question 6

de-industrialisation

Answer 6

decline of countrys trad manufacturing industry bc exhaustion of materials, loss of markets, competition of NEEs

Question 7

impacts of de-industrialisation

Answer 7

• low incomes
• unemployment = negative multiplier effect
• businesses struggle & close
• derelict & outdated infrastructure