Moving Towards a Post-Industrial Base

Question 1

Causes of economic change include:

Answer 1

1. Decline of traditional industrial base – because many raw materials in the UK have been used up or are too expensive to extract.
2. Globalisation – cheaper production costs in LICs/NEEs have increased competition from overseas. Tertiary and Quaternary jobs now make up over 81% of the UK economy.
3. Government Policies

Question 2

Important industries in the UK include: Services

Answer 2

E.g. retail, personal services and healthcare.

Question 3

Important industries in the UK include: Information technology

Answer 3

Access to the large European market and a highly-skilled workforce have resulted in the growth of IT industries in the UK (e.g. Vodafone HQ is in the UK. It is the second largest phone
company in the world measured by number of connections).

Question 4

Important industries in the UK include: Finance

Answer 4

Many global financial institutions have their HQ in the UK, especially in London (e.g. HSBC and Barclays). Financial services employ about 315,200 in London.

Question 5

Important industries in the UK include: Research and Development

Answer 5

The UK ranks eighth in the R&D industry, with healthcare accounting for over half of the R&D spend. GlaxoSmithKline Pharmaceuticals spent over
£3.5 billion on R&D in 2016.

Question 6

Important industries in the UK include: Science and industrial parks

Answer 6

Tertiary and quaternary industries are increasingly found in science and business parks in the UK, many of which are found on the M4 corridor.