Model Answer for the M-F 2-4pm afternoon class on the UK Economy (a great class with four really dedicated and talented students): Information regarding how much three sectors contributed to the economy of the UK in the 1900’s is revealed in the diagram. Overall, the contribution of agriculture and manufacturing experienced a considerable decline while there was a sharp increase in the contribution of business and financial services in the 100 year period. As can be seen, the figures for both agriculture and manufacturing dropped substantially. Agriculture began the century as the highest contributing sector and it grew from around 50% to a peak of approximately 53% in 1950. Following this, it plunged to 10% in 1975 and continued falling to around 3% in 2000, making it the lowest contributing sector. Likewise, manufacturing witnessed a marked decline from 45% in 1900 to about 15% at the end of the century. By contrast, there was an upward trend in regards to business and financial services. It was the lowest contributor in 1900 accounting for less than 5% of the economy. Subsequently, it had more than doubled to 10% by 1950 before doubling again to 20% in 1975. By 2000, it had become the highest contributing sector making up approximately 35% of the UK economy. (191 words)
Posted on: Wed, 20 Aug 2014 09:11:12 +0000
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