Economic Characteristics

Cards (5)

What are the economic characteristics of places to do with? 
Work and money eg income
How can the economic characteristics of places change? 
Due to the effects of changing external flows
Economic characteristics - changing external flows: flows of people? 
People visiting places can change the economic characteristics of those places eg St Ives went from fishing settlement -> tourist destination
the flows of tourism as well as fishing industry decline have altered the types of jobs available in the area to service-based jobs in shops , restaurants
Economic characteristics - changing external flows: flows of resources? 
The outward flow of local products or natural resources from a place can have a large impact on local economies
products that may once have been consumed locally or regionally can now be sold to global markets
Economic characteristics - changing external flows: flows of money and investment? 
These flows can have positive and negative impacts on the economic characteristics of places
eg reduced investment and competition from global markets has led to the decline of some primary UK industries however inward flows of investment can have positive effects eg investment in finance industries in LDN - created high value service sector jobs