Nobody downloaded yet

Business Economics - Essay Example

Comments (0) Cite this document
Summary
The UK manufacturing sector is currently in recession and last year it recorded its largest annual decline for a decade. There is puzzling question in the mind of everyone whether UK…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.6% of users find it useful
Business Economics
Read TextPreview

Extract of sample "Business Economics"

Download file to see previous pages Reduced investment and poor image of the sector is put in the backseat without fresh blood in the segment. The industry must get competitive edge by manufacturing those goods that consumers want and Britain has technical and competitive advantages. Manufacturing in Britain is still important. There is a need to keep the economy diversified, that can not be possible without manufacturing. UK requires shifting into more high-tech manufacturing which is less labour intensive
UK economic scenario can be viewed from this chart and diagram, which clearly points about the falling gross domestic products every decade from the Second World War when the UK economy boomed (Hundred years of Economic statistics, World Economic Outlook)
The boom of the new century ended in 2008 when UK entered a recession caused by the global financial crisis following the collapse of the UK Northern Rock Bank. British economy shrunk by 2.4% in the first quarter of 2009 compared with the previous one as reported by the British Office for National Statistics (ONS). According to the ONS, "output of the production industries fell 5.1 percent, while service industries fell by 1.6 percent, with negative growth in all sub-industries except government and other services." (British economy shrinks 2.4 %-----)
Britain is still reputedly the sixth biggest global manufacturing economy. The UK manufacturing sector is currently in recession and last year recorded its largest annual decline for a decade. The manufacturing sector had witnessed the boom in 1995 when it touched almost 8% growth and then moved in between 0 to 2% growth level. After touching more that 2% in 2007 the manufacturing shrunk below in 2008. Services account for 80% of Britain’s G.D.P. Service industry is not entirely independent and depends very much over manufacturing sector only. The UKs services industry as seen as the engine of growth for the national economy does not appear convincing.
There is puzzling question in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Business Economics Essay Example | Topics and Well Written Essays - 2500 words - 2”, n.d.)
Business Economics Essay Example | Topics and Well Written Essays - 2500 words - 2. Retrieved from https://studentshare.org/miscellaneous/1560343-business-economics
(Business Economics Essay Example | Topics and Well Written Essays - 2500 Words - 2)
Business Economics Essay Example | Topics and Well Written Essays - 2500 Words - 2. https://studentshare.org/miscellaneous/1560343-business-economics.
“Business Economics Essay Example | Topics and Well Written Essays - 2500 Words - 2”, n.d. https://studentshare.org/miscellaneous/1560343-business-economics.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business Economics

Business economics

...? PROBLEMS IN THE HOUSING MARKET AN EVLAUTION WITH REFERENCE TO UK HOUSING MARKET Problems in the Housing Market an Evaluation with reference to UK Housing Market 1. Introduction According to Erdman (1992, p.3) ‘the UK property market is highly sophisticated and based on well-established traditions, customs and codes of practice, and it is widely recognised within UK – as elsewhere – that every major business decision has a property dimension.’ It is also noted that the property market in UK especially housing market is remarkable in terms of liquidity, institutional involvement, transparency and ease of trading than any other property market in Europe. Many studies have shown great influences of the macro economic conditions... and the next...
12 Pages(3000 words)Assignment

Business Economics

...?Business Economics Q1 Discuss the reasons for the problems encountered in the market for housing over recent years. Analyze and evaluate the measures taken by both the industry and the government of a country of your choice to counter these problems, using specific examples to illustrate your arguments wherever possible. Introduction The very recent outburst of the housing price bubble in the most advanced and developed economies of the world has raised in serious concerns about the management of the macroeconomic tools, measures to combat the inflationary pressures especially by the public authorities, as that led to a financial crisis, and the consequences of the financial crisis had to be faced by the...
12 Pages(3000 words)Essay

Business Economics

...records at the office of National Statistics show that gas and energy prices remained unchanged in the months of August and September. The other reason for reduced inflation for the month of August and September is the decline in prices of food and other non-alcoholic drinks. The prices of these goods fell by 0.9% hence contributing to the downward trend of overall inflation. However the largest contributor to reduced inflation according to the office of National statistics is meat which saw its prices drop by 1.2%. What is the outlook' The rate of inflation is likely to rise in the future due to a number or reasons. According to the Centre for Economics and Business Research the major contributor to...
16 Pages(4000 words)Essay

Business Economics

...and integral part of any business, also operates on a similar basis. 8. What is meant by globalisation? Who benefits from it? Globalization refers to the process of international integration. It is essentially the on going process through which the people of the world are being unified into a single society. It is a composite of economic, technological political as well as socio-cultural forces that is motivating this process. In terms of economics, the process of integration of all the markets over the world is referred to as globalisation. Globalization therefore is a process that opens up the international markets for all economies that decide to participate in international markets....
6 Pages(1500 words)Essay

Business Economics

.... Obviously, the quantity demanded is negatively related to the price (Mankiw, 1998). The changes in price is shown in a graph by a movement along the demand curve. On the left-upper part, is the high price and lower quantity demanded while on the right-lower part of the demand curve is the lower price and higher quantity demanded. This is so prevalent that it has become a law in Economics. The number of buyers determine the over-all demand in the market. Obviously, the greater the number of buyers, the larger the over-all demand is. This determinant of demand is usually in reference to the market demand rather than the individual demand. More often, when one is considering a business, especially when...
8 Pages(2000 words)Essay

Business Economics

...BUSINESS ECONOMICS A1. The current account deficit depicts a measure of the extent to which Australia draws upon overseas resources in excess of its capacity to earn the same by way of exports and other similar credits (Kelly 1994, Pp. 198). It calculates the exchange of real goods and services and the transfer of payments in a given year. Real goods refer to market goods, while services refers to payment of interest on loans borrowed, royalties on intellectual property, income earned on international investments, etc. Transfer of payments on the other hand, refers to foreign remittances received by families from workers employed overseas, grants given to foreign countries, etc. There is an inverse...
15 Pages(3750 words)Essay

Business Economics

...Running header: Britain Changing Economic and Business Environment Your Introduction Britain was the first country to industrialise initiating the first industrial period, hence was called ‘the workshop of the world’ accounting for almost all international manufactured products in the nineteenth and early twentieth centuries. The manufacturing industry was dominated by shipbuilding, coal mining, steel production, and the textiles industries. However this period of growth stagnated from the 1970s and 1980s with marked decline [See Appendix 2]. Conversely the decline in the manufacturing industry saw the rise in the service industry as more people migrated to the financial, hotel, health, and other services...
10 Pages(2500 words)Essay

BUSINESS ECONOMICS

...ELASTI OF DEMAND IN A GOVERNMENT DECISION TO IMPOSE A SPECIFIC TAX ON CIGARETTES. Introduction It is a common misconception among executives andbusinessmen faced with rising costs or the need to improve profit margins that increasing the price of ones product is an effective way to increase revenue. Also, when the government imposes an excise tax the common tendency is to charge the full amount of the tax to the consumer with the conviction that profit objectives will not be affected. Decision makers who do not understand the concept of demand elasticity in economics are bound to be disappointed when their preconceived notions are proven wrong. This paper will discuss the concept of elasticity and how a government tax on...
5 Pages(1250 words)Essay

Business Economics

...Business Economics i Solution to Question One Unlike prices of other fuels, the prices of gasoline keep fluctuating. This is normally due to the changes in supply of crude oil. World events and domestic issues in oil-producing countries are normally the major causes of disruption in the supply of crude oil. Seasonality is also another cause of the fluctuation. In seasons like summer, when people tend to drive more, the prices of gasoline tend to rise due to the high demand (Stone, 2008). In winter, it is vice versa. Product supply and demand imbalances also cause the prices of gasoline to fluctuate. This is so because at times demand rises unexpectedly or supply declines suddenly due to production...
3 Pages(750 words)Speech or Presentation

Business Economics

...Introduction This paper involves practical elements and aspects of business economics in relation to real life businesses. To this end, the paper is written from the perspective of the managing directors of a manufacturing company. To this end, the research will examine the worth and importance of Business Economics by way of its contribution to planning and decision making. Q1: Business Economics & Manufacturing Company As a managing director of a manufacturing company, I will be overseeing a large entity that takes inputs from the society, processes it and offers it to consumers in the markets. Therefore, I will be concerned about various aspects of the markets as well as the wider business environment within which I operate... . The...
7 Pages(1750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Business Economics for FREE!

Contact Us