The Changing UK Economy

Question 1

What is meant by the term De-industrialisation?

Answer 1

This is the decline in manufacturing industry and subsequent growth in tertiary and quaternary employment.

Question 2

Why has De-industrialisation taken place in the UK?

Answer 2

1) Machines and Technology have replaced many people in modern industries
2) Lack of investment, high labour cost and outdated machinery made UK products too expensive
3) Outsourcing work to LICs

Question 3

What is meant by the term Globalisation?

Answer 3

The growth and spread of ideas around the world can involve cultures, people, money etc.

Question 4

What happened to the UK between 1945- 1979?

Answer 4

• The government created state-run industries e.g British Rail
• Spent money on ‘propping up’ UK industries, ageing equipment and outdated work practice made this era prone to social unrest.

Question 5

What happened to the UK between 1979-2010?

Answer 5

• Increase Privatisation (selling state-run businesses to private companies).
• This brought innovation and change, regenerating derelict areas

Question 6

What happened to the UK between 2010 and onward?

Answer 6

• The aim was to ‘rebalance’ UK economy
• Done via:
  Improvement to infrastructure e.g HS2
  More Investment in manufacturing industries
  Encouraging global firms to locate within the UK

Question 7

What is a post-industrial economy?

Answer 7

Where manufacturing industry declines to be replaced by growth in service sectors and quaternary sectors.

Question 8

How has the development of IT affected the UK economy?

Answer 8

• Internet access enables work from homes
• Over 1.3 million people work in the IT industry
• Many new businesses are directly involved in IT, which makes the UK a leading digital economy.

Question 9

How much does the UK service sector contribute to the overall economy?

Answer 9

79% of the total economy

Question 10

Name 2 key facts about the UK research industry?

Answer 10

• Employs over 60 000

- Contributes over £3bn to the UK economy

Question 11

What is a Science Park?

Answer 11

A group of scientific and technical knowledge-based businesses located on a single site.

Question 12

Name a Science Park in the UK?

Answer 12

University of Southampton Science Park

Question 13

Name 2 companies located in the UK science park?

Answer 13

Fibercore - a manufacturer of optical fibres, moved to
the science park from the university.

Symetrica - specialising in gamma-ray spectrometers and established in 2002

Question 14

What are some benefits for the companies locating in the Science Park?

Answer 14

• Source of graduate employees
• Excellent transport links e.g M3 and Southhampton
  airport
• Links to the university which provide research facilities
  and highly educated work force.

Question 15

What is a Business Park?

Answer 15

An area of land which is occupied by a cluster of businesses.

Question 16

Why are Businesses located near town edges?

Answer 16

• Land tends to be cheaper
• Businesses can benefit by working together
• With more land available, it may be possible to extend businessess

Question 17

Name a Business Park in the UK?

Answer 17

Cobalt Business Park, Newcastle-upon-Tyne

Question 18

Name 2 Businesses in the park?

Answer 18

• IBM

- Santander

Question 19

What are some benefits to locating a business in the park?

Answer 19

• Fitness centres, green spaces and other recreational areas.
• Close to the A1 main road and 20 mins from the airport
• Government assistance and grants due to being located in North-East.