1: Changing UK economy

• What was the UKs population in 1960-2015


  52million-64million
• What happened to the UKs economy when the population increased between 1960-2015

  The UKs economy increased from 727billion to 2.67trillion

  267% increase
• What is the primary sector

  It includes workers who work through agriculture, mining, fishing, and forestry
• What is the secondary sector

  the part of the economy that transforms raw materials into manufactured goods

  E.g construction, car manufacture
• What is the tertiary sector

  It is the issuing of goods and services in exchange for money. It includes retailing, banking, law, education, and government(e.g teaching and healthcare)
• What is the quaternary sector

  research and development

  (E.g genome research, IT programmer)
• Distribution of work sector in 1800

  1800

  The largest sector was primary sector (75%) due to the countries reliance on agriculture

  The secondary and tertiary sectors were small at this time and there was no such thing as a quaternary sector
• Distribution of work sector in 1900

  The primary sector decreased significantly but the secondary sector increased by 40% due to the Industrial Revolution which brought factories and machines into the country. The tertiary sector increased slightly
• Distribution of work sector in 2006

  The primary and secondary sector drastically decreased because the UK now imports and manufactures most of its products. The quaternary sector was finally introduced due to jobs in research, IT and the media developing
• Why has the UK economy changed

  • Deindustrialisation

  • Globalisation

  • Government policy
• What is deindustrialisation and how has it affected the economy

  Deindustrialisation is the decline of traditional industries

  This happened because:

  -other countries can produce cheaper goods since labour is less expensive

  -machines and technology have replaced many people in modern industries

  -UK is now a world centre for financial services, media, research and creative industries

  -reserves of natural resources such as iron ore and coal have declined in the UK or become uneconomic to mine
• What is globalisation and how has it effected the economy

  Globalisation is the growth and spread of ideas around the world such as culture, people, goods and information

  This happened because:

  - developments in transport, communication and the internet contributed to the decline in manufacturing since it boosted world trade and enabled more imported products

  -cheaper crops and food can be imported from overseas where the climate may be more favourable and both labour and land are cheaper then in the UK
• Government policies which effected the UK economy 1945-1979

  1945-1979

  -UK government created state-run industries

  -Government money was spent 'propping up' declining UK industries but ageing equipment, outdated working practices and too many employers made them unprofitable

  1970s- social unrest, strikes, power cuts and factory closures
• Government policies which effected the UK economy 1979-2010

  1979-2010

  -State-run industries were sold off to private shareholders to create a more competitive business environment

  -many older industries closed down and many jobs lost

  -private companies brought innovation and change

  -Derelict industries transformed into financial centres with officials and modern retail outlets
• Government policies which effected the UK economy in 2010-onwards

  2010-onwards

  Aim was to rebuild and rebalance the economy by relying less on service industries. Policies included:

  -more investment in manufacturing industries

  -encouraging global firms to locate within the UK

  -easier access to loans and finance

  -improvements to transport infrastructure (e.g railway)

  -policies limiting fishing and helping farmers mechanise cost jobs in primary industries
• What is a post-industrial economy?

  Economy where manufacturing is no longer the country's most important industry and is replaced by growth in the service sector and quaternary sector
• when did the UK have a post industrial economy

  from the 1970s
• By 2015 what percent of the UK were employed in tertiary jobs

  78%
• What factors contribute to the growth in services

  -good transport connections (road, rail, air)

  -a highly skilled workforce educated to degree level or above

  -the number of quaternary industries with potential to grow and new start up businesses with potential to grow larger
• which areas of the economy have contributed the most to the development of post industrial economy in the UK

  -development of information technology (IT)

  -service industries and finance

  -research
• IT has helped the development of a post-industrial economy in the UK because:

  -the internet enables people to communicate with each other instantly across the whole world

  -many people can access the internet using smart phones and tablets

  -computers allow large amounts of data to be stored and accessed very quickly

  -over 1.3million people work in the IT sector

  -the UK is one of the world's leading digital economies
• Research has helped the development of a post-industrial economy because:

  -it is part of the quaternary sector and employs over 60,000 highly-qualified people and is estimated to contribute over £3billion to the UK economy

  -British Atlantic Survey - BAS

  employs over 500 highly skilled people in Cambridge, Antarctica and Arctic

  helps our understanding of the Earth and human impact on its natural systems
• What is a science park and how many are there in the UK

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

  There are over 100 in the UK
• Why are science parks associated with universities

  Associated with universities enabling them to use research facilities and employ skilled graduates
• University of Southampton Science Park

  -opened in 1986

  -has expanded to include 100 small science and innovation businesses e.g. Photonstar, Fibercrore
• What are the benefits of the University of Southampton science park

  -excellent links with university which provides research facilities and academic talents

  -attractive location with extensive green areas and woodlands

  -meeting rooms, a nursery, and a high-speed broadband are on site

  -excellent transport links: it is close to M3, Southampton international airport and rail links so it is easy for international students to gain access
• Service industries and finance helped the development of a post-industrial economy in the UK because:

  The UK service sector has grown rapidly since the 1970s and today it contributes to over 79% of the UK's GDP

  -Finance is an important part of the service sector since the UK is the world's leading centre for financial services

  -The financial services sector accounts for 10% of the UK's GDP