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KS3 - UK Economy Key terms and definition

Key Concepts:

Terms in this set (10)

Disposable income
The amount of money people have left after all essentials have been paid (e.g. bills, food etc.)
Economy
The way in which goods and services are made, sold and used in a country or area.
Employment structure
% of people working in different types of industry.
Goods
Items to be sold
Globalisation
The increasing links between countries around the world as a resultof the movement of goods, services and money.
Primary Sector
Raw materials are extracted (taken) from the land and sea e.g. jobs in fishing
Quaternary Sector
Involves research and development into new technologies / ideas e.g. research into renewable energy
Secondary Sector
Manufacturing (making things) from raw materials e.g. factory workers
Services
Helping or doing work for someone
Tertiary Sector
Providing a service to others - e.g. teachers
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