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.