The changing UK economy Flashcards
How has the economy of the UK changed
Tertiary sector grown
Primary sector had declines
Why has the economy of the UK changed
Deindustrialisation
Why does Deindustrialisation happen
lack of investment
machines and technology replacing people
some countries can produce cheap goods because labour is cheaper
Globalisation
growth and spread of ideas around the world
What is a post-industrial economy
where manufacturing industry declines and is replaced by growth in the service sector and quaternary sector
Development of information technology
Remote access to internet
Internet allows communication with people all over the world
Computers can store large amounts of data
Development of IT
Internet access enables work from home
UK is one of worlds leading digital economies
Many business directly involved with IT
Service sector
UK service sector has grown rapidly and contributes almost 80% of UK economic output
Finance in service sector
UK is world’s leading centre for financial services
UK’s research sector
Research sector is likely to be one of the UK’s economy’s main growth areas in the future
Science park
group of scientific and technical knowledge-based business located on a single site
Business park
area of land occupied by a cluster of businesses
Why are business parks normally located on edges of towns
land tends to be cheaper
access is often better for workers
extension is possible
