post-industrial economy
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7 Terms
What is a post-industrial economy?
Where the industrial sectors in manufacturing decline and is replaced with growth in the service/quaternary sectors
How much of UK employment is in services and quaternary sector in 2021?
80%
How has the proportion of people working in manufacturing changed?
55% in 1900, 18% by 2021
What 4 things represent the post-industrial economy in the UK?
Development of IT, service industries, finance and research/development
Why has IT developed?
IT has a lot of significance in industry nowadays;
Computers allow for lots of data to be stored and accessed quickly
Internet allows for people to communicate globally and is easily accessed and used by many people, plus allows people to work from home
How has IT benefited people?
IT encourages much global investment in the UK, technological developments have allowed the growth of specialist manufacturing, service and research
Information is easily accessible to people
How many people are employed in finance, and how much of the UK’s GDP does it make up?
2 million people, about 10% of GDP