What is population density?
The population per unit area.
Give an example of a primary industry, what has happened to these economies?
Farming, mining which they have declined due to technology and cheaper alternatives.
Give an example of secondary industry.
Manufacturing, which has decreased due to global shift.
Give an example of the tertiary sector (service sector).
Retail, banking, healthcare and education.
Give an example of quaternary sectors.
IT and research development - which is increasing as technology improves.
What is FDI?
Foreign direct investment - a company based in one country can invest money into a different country e.g. buy land, a property, buy an existing business, etc.
What is globalisation?
The process of countries becoming more integrated.
What is privatisation?
Services that were previously run by the UK government have been offered to private firms.
What is a TNC?
Transnational corporations are big companies that operate in more than one country.
Give a pro of the UK economy working with TNC's ?
Jobs are created, e.g. a US TNC is investing in a resort in derbyshire creating 1000 jobs.
Give a disadvantage of the UK economy working with TNC's.
Local businesses struggle to compete with the TNC's.