uk in 21st century - economy

Question 1

OUTLINE the changes to the economy (events of the recession)

Answer 1

• 1997-2007
  UK economy grew stronglt
  unemployment decreased

-early 2008
RECESSION
businesses faied, GDP decreased and unemployment increased

-late 2009
recession ended

Question 2

describe how the government’s priorities changed with the economical state

Answer 2

stage 1 ((1997-2007))
- encouraged investment in new tech in quarternary industries
- investing in university education, for a more skilled workforce

stage 2 ((recession 2008))
- supported businesses so they didnt collapse ( this would lead to unemployment
- decrease taxed o goods to encourage spending and internatjonal trade
- borrowing money (e.g.from private companies and overseas investors)

stage 3 ((late 2009)
- government had to focus on paying off money borrowd during the recession and helping people find jobs
-cut spending on public services such as pensions, education and defence to raaise money
-providing training for job seekers and support for new bsuinesses to decrease unemployment

Question 3

how has quaternary industries changed since 2001

Answer 3

increased

Question 4

How has secondary industries changed

Answer 4

decreased

Question 5

primary and teriary have…

Answer 5

remained steady/unchanged

Question 6

the biggest icnrease in industries has been…
stat

Answer 6

professional and technical jobs (like law, compputing, research and development) (by +61%)

Question 7

since 2001, working hours have overall ____

Answer 7

decreased

Question 8

give a stat to show the change of working hours

Answer 8

2001 - 34.7 hrs a week
2014 - 33.1 hrs a week

Question 9

the number of hours worked _____ slightlly more for men than for women over 2001-2014

Answer 9

decreased

Question 10

there has been an increase in ______ jobs and _______ contracts.

Answer 10

part-time
zero-hours

(where the employee isnt guaranteed any hours of work)

Question 11

the number of families with BOTH parents in FULL-TIME work has _____ since 2003.
why?

Answer 11

increased

• the gov increased financial support for low-income working parents under the Tax Credict Act of 2002

Question 12

london creates ____ of the Uk’s GDP

Answer 12

22%

Question 13

name 4 economic hubs and their speciality

Answer 13

glasgow - renewable energy production, new techs in building and medicine!!!

newcastle - science, tech and computer games dev

cambriddge science park - research and development.

aberdeen - oil and gas extraction