Causes of economic change

• What are the four classifications of industry?

  Primary, secondary, tertiary, and quaternary
• What does the primary industry involve?

  It involves raw materials
• What is the role of the secondary industry?


  It processes raw materials into products
• What does the tertiary industry focus on?


  It focuses on selling services and skills
• What is the quaternary industry associated with?


  It is associated with information services
• What is deindustrialisation?

  It is the reduction of industrial activity in a particular region
• What is globalisation?


  It is the increased movement of goods and people between countries
• How has deindustrialisation caused economic change?


  It has led to a decline in the secondary sector and increased machinery replacing people
• How has globalisation affected production costs?


  It has made it cheaper to import products than to produce them
• What is privatisation?


  It is the selling off of nationalised industries to private companies
• How has a post-industrial economy caused economic change?


  It has enabled growth in service industries through the development of the quaternary sector
• How do email and video conferences benefit UK companies?

  They allow UK companies to provide financial and business services to people around the world
• What percentage of the UK's GDP is generated by financial services?

  7%
• How many science parks are there in the UK?

  Over 100
• What are science parks associated with?

  They are associated with universities
• What is the purpose of science parks?


  They enable universities to use research facilities and employ skilled graduates
• What are business parks?


  They are areas of cheaper land occupied by a cluster of businesses
• How do business parks benefit companies?


  They provide better access for workers and allow businesses to benefit by working together
• What are the main causes of economic change?

  • Deindustrialisation
  • Globalisation
  • Privatisation
  • Development of the quaternary sector