structural economic change- Birmingham Flashcards
who found the waves of innovation theory
Russian economist Kondratieff
define the term capitalist system
socio economic system that focuses on the production of goods and services for a profit
define cyclical change (waves of innovation theory)
cyclical economic booms and recessions fueled by waves of innovation
relate the core periphery model to cyclical change
core areas will have stronger education systems and knowledge economies and therefore will be the first to access new waves of innovation, reaping the economic benefits of this innovation more than periphery zones.
define the term macro-economic indicator and give three examples
indicators to the economic status of an area such as GDP, household income and business profits
give a fact that exemplifies industrial decline in Birmingham
between 1971 and 1987, manufacturing employment halved with the loss of 150,000 jobs.
what opened in Birmingham to allow for a sectoral shift to tertiary and quaternary industries and when did it open
Birmingham science park opened in 1982
give a fact that shows the significance of birmingham science park nationally
its home to 25% of the UK’s electronic games workforce
give two other examples of flagship landmarks that birmingham city council have invested in
national indoor arena, central library
what type of economic change has birmingham undergone
structural economic change
why has a core-periphery layout of the UK developed
skills used in heavy industry are not easily transferrable to the service sector- heavily industrialised areas have suffered the most during economic restructuring
how may the physical area of deindustrialised areas suffer
derelict buildings, polluted land and waterways
name two key areas in birmingham science park
Uni of birmingham medical school, queen elizabeth hospital,
name two key players in the industrialisation of birmingham
mathew boulton built the soho factory in birmingham in 1795 which provided 700 jobs, the cadbury family built their factory on Bournbrooke Estate in Birmingham in the early 20th century
what was a main industry in medieval birmingham
metal working
