Unit 5: Changing Economy of the UK Flashcards
Automated Factories
Factories where the majority of work is done by machines or robots instead of people
Biotechnology
Industry that applies science to global problems e.g. pharmaceuticals, research into treating diseases
Brownfield sites
A piece of land which has been used and abandoned and is awaiting redevelopment.
Cycle of decline
Model to explain how an area can go into decline in several areas due to the loss of an industry/ business
Cycle of Poverty
Model to explain how an area can be trapped in poverty
Deindustrialisation
Long term and absolute decline of secondary industry (manufacturing)
Digital Economy
Jobs that are based on digital technology, such as IT, software etc.
Diversification
Creating varied industries and economic activities so that if one fails, it won’t affect the others
Model to explain how when one industry collapses, it will lead to the collapse of other businesses that reply on it. Often used to help explain impacts of deindustrialisation
Domino-effect
Work that involves taking on a single job without any commitment to further work once its finished
Freelancing
Employment that is in the ‘environmental’ sector i.e. installing solar panels, designing sustainable buildings
Green Employment
A piece of land that has not been built on before
Greenfield site
Total income earned by everyone in a household, after paying tax.
Household Income
Essential services such as electricity, water, roads etc
Infrastructure
Economy based on knowledge and mental skills
Knowledge Economy