3.2 Economic Changes

    Cards (71)

    • The secondary sector deals with manufacturing and processing.

      True
    • What was the tertiary sector's contribution to the UK economy in 2010?
      80%
    • Offshoring involves relocating factories to countries with lower labor costs
    • Outsourcing involves companies contracting specialized service providers
    • The primary sector involves the extraction of raw materials
    • Match the economic sector with its main activity:
      Primary Sector ↔️ Extraction of raw materials
      Secondary Sector ↔️ Manufacturing and processing
      Tertiary Sector ↔️ Providing services
      Quaternary Sector ↔️ Knowledge-based activities
    • How many manufacturing jobs were there in the UK in 2000?
      3.5 million
    • What type of economy is the UK transitioning towards?
      Service-based
    • Increased living standards have led to greater demand for services.

      True
    • Globalization has increased competition for UK businesses.
    • Offshoring refers to the relocation of manufacturing and services to lower-cost countries
    • Globalization has increased competition for UK businesses, forcing them to improve efficiency
    • Addressing regional imbalances is a key policy priority for the UK government.
      True
    • What is the main aim of supply-side policy in the UK economy?
      Enhance productive capacity
    • Match the economic sector with its description:
      Primary ↔️ Extraction of raw materials
      Secondary ↔️ Manufacturing and processing goods
      Tertiary ↔️ Providing services
      Quaternary ↔️ Knowledge-based activities
    • What were the main reasons for the decline in UK manufacturing employment between 2000 and 2020?
      Automation, offshoring, technological advancements, economic shifts
    • Which industries are included in the tertiary sector of the UK economy?
      Retail, healthcare, education, finance
    • The tertiary sector contributed 82% to the UK economy in 2020.
      True
    • Technological advancements like e-commerce have expanded the service sector.

      True
    • Globalization increases foreign direct investment, which brings capital and expertise
    • Regional economic disparities can lead to social and political tensions.

      True
    • Supply-side policies aim to enhance the productive capacity of the economy.
      True
    • What is one emerging opportunity for the UK economy related to environmental sustainability?
      Growth in renewable energy
    • What are the four sectors of the UK economy?
      Primary, secondary, tertiary, quaternary
    • Match the sector with its focus:
      Primary Sector ↔️ Raw material extraction
      Secondary Sector ↔️ Manufacturing and processing
      Tertiary Sector ↔️ Providing services
      Quaternary Sector ↔️ Knowledge-based activities
    • The secondary sector's contribution to the UK economy decreased from 20% to 12% between 2000 and 2020.

      True
    • The secondary sector in the UK has experienced a notable decline in manufacturing jobs
    • What are two key reasons for the decline in manufacturing jobs in the UK?
      Automation and offshoring
    • What technological advancements have enabled the expansion of the service sector?
      E-commerce and digital services
    • What does the secondary sector deal with?
      Manufacturing and processing
    • Order the sectors based on their percentage contribution to the UK economy in 2020, from highest to lowest:
      1️⃣ Tertiary Sector (82%)
      2️⃣ Secondary Sector (12%)
      3️⃣ Quaternary Sector (5%)
      4️⃣ Primary Sector (1%)
    • Automation has reduced the need for manual labor in manufacturing.

      True
    • What was the tertiary sector's contribution to the UK economy in 2020?
      82%
    • What is one business function commonly outsourced by UK companies?
      IT
    • The quaternary sector has expanded due to globalization.
      True
    • Globalization refers to the increasing interconnectedness and interdependence of economies and societies around the world.
      True
    • Match the contributing factors to regional economic disparities with their effects:
      Deindustrialization ↔️ Job losses and economic decline
      Uneven distribution of service growth ↔️ Prosperous regions in the southeast
      Differences in infrastructure ↔️ Businesses attracted to regions with better links
    • What are the three main types of government policies aimed at supporting economic growth?
      Fiscal, monetary, supply-side
    • Tax incentives for small businesses in the UK are designed to foster innovation and job creation.

      True
    • The tertiary sector in the UK economy has grown from 75% in 2000 to 82% in 2020.
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