26 March 2013 "A first-rate city with a second-rate country attached." That is how one rather brutal friend of mine describes London. For a certain kind of "global citizen", London today feels like the new capital of the world - while, for people living in other parts of the UK, it all too often feels like another planet. The Office for National Statistics reckons that the average Londoner contributes 70% more to Britain's GNP than people in the rest of the country. Without London, the UK would look like a rather different economy - one less focussed on financial services, more reliant on manufacturing. Should Britain let go of Lond Thinker … This is a news article from 2013. How does it link to what we have learnt this week? Learn to change the world London's top ten boroughs alone are worth more than all the property of Wales, Scotland and Northern Ireland, added together.
26 March 2013. Should Britain let go of London?. Thinker … This is a news article from 2013. How does it link to what we have learnt this week?. "A first-rate city with a second-rate country attached." That is how one rather brutal friend of mine describes London. . - PowerPoint PPT Presentation
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26 March 2013
"A first-rate city with a second-rate country attached." That is how one rather brutal friend of mine describes London. For a certain kind of "global citizen", London today feels like the new capital of the world - while, for people living in other parts of the UK, it all too often feels like another planet.
The Office for National Statistics reckons that the average Londoner contributes 70% more to Britain's GNP than people in the rest of the country.
Without London, the UK would look like a rather different economy - one less focussed on financial services, more reliant on manufacturing.
Should Britain let go of London?Thinker…
This is a news article from 2013. How does it link to what we have learnt this week?
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London's top ten boroughs alone are worth more than all the property of Wales, Scotland and Northern Ireland, added together.
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The Informal SectorLO:
• To understand how employment conditions vary
• To evaluate the effectiveness of economic measures
StarterDescribe what happens to employment structure over time
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Often subsistence farming
Labour intensive
Farming becomes capital intensive
Industrialisation requires large secondary workforce
Industry becomes increasingly mechanised
Foreign imports become cheaper
QOL improves so demands for services increase
This graph represents the UK’s changing employment structure over time. A similar pattern can be seen when looking at countries at different stages of development.
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Nepal
Brazil
USA
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Which of these four is the best measure of economic activity?
GDPGNP
Trade balanceEmployment
structure?
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GDP vs GNPIn the USA, revenue from McDonalds is included in it’s GDP but does not include money from foreign branches GNP.
So there are problems in the calculation of these measures
Evaluating measures of economic activity
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Evaluating measures of economic activity
If we look at GDP or GNP what would it tell us about these countries?
Finally, none of the measures recognise illegal activity…
It is estimated that Afghanistan exports $4bn of opium each year
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Like the Nando’s PERi-ometer, how much can you challenge yourself?
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EITHER:
Compare the four measures of economic activity. How effective are they as measures of economic activity?
OR:
Describe one problem of using total GDP as a measure of economic activity and one problem of using employment structure as a measure of economic activity.