UK Economy

Mergers and Acquisitions. Population of the UK , USA , China and Europe. Employment rate in the UK , USA , China and Europe. Inflation in the UK , USA , China and EU. Trade uk , usa , china. GDP per Capita UK , China , USA , EU and Japan. Income of UK and China. Com public data. Lower production cost. Access to additional markets. P4 The role of the Government. Fragmented and Imperfect.

The assignment was conduct by researching the UK’s economy by various websites such as, and many more. To obtain more information for the assignment I looked at various books to see how inflation, GPD and other work and how they have changed.

In business there are three different types of sectors. The sectors are known as:

Primary- the primary sector is the starting point, where raw materials are extracted. An example of the primary sector would be farming and mining. Countries that have a high percentage employed in the primary sector have a low GDP, for example countries like Niger and Peru.

The knowledge Economy- The knowledge economy is a sector which is at the high end of manufacturing. An example would be researching and developing new products such as hybrid cars. The UK is known for its Knowledge economy for the reason that the workforce is experienced and is known for their innovation. However the knowledge economy is not as big as the Tertiary sector for the reason that it is still growing. Another factor that is preventing further development would be that the UK’s education is slowly decreasing. A statistic state that 1 in 12 people are not in education.

Command or Planned Economy- a Command Economy is when the government decides the price, which good and service will be produced and how they will be distributed. The government would control most aspects of the business and censorship of the media. The disadvantage of Command Economy would be that the public has minimum choice of where to work and what to buy. The public will be allocated to work via their occupation or geographical location. Another disadvantage would be that there is no competition, which would mean that the standard of goods and services will be poor quality. An example of a Command Economy would be the Soviet Union (Russia).

Free Market Economy- a Free Market Economy is when the resources are allotted through the spending of the consumers. Free Market Economy is based on supply and demand. Unlike Command Economy where the government has the only say, a Free Market Economy the government has very little say. For that reason consumers have more choice in what to buy and the quality will be high because of competition. The motivation for private owners and workers will be high for the reason that they can make as much money as they want. For that reason the work force is more motivated than a Command Economy. The disadvantage would be that the poor will have little choice but the rich would have more to choose from and no free health care. Small businesses would have to close down due to larger organisations being more effective. An example of a Free Market Economy would be USA.

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UK Economy. (2017 m. Rugpjūčio 25 d.). Peržiūrėta 2018 m. Kovo 22 d. 19:59