Economy of great britain

1.What type of the economy does GB have?

GB has mixed private and public enterprise economy.

2.What has been a key part of British economy for centuries?

Trade has been a key part of the British economy for centuries.

3.What has its prosperity been dependent upon?

Its prosperity has been dependent upon the export of manufactured goods in exchange for raw materials and foodstuffs.

4.What can you say about the international trade of GB?

Nowadays there is no longer and difference in the broad categories of commodities imported and exported GB’s trade focus has shifted from the US to the European Community. In addition, Common wealth nation account for 11% of GB’s trade. Germany, the US, France and Netherlands are Britain’s main export markets.

5.What does GB export and import?

The country’s chief export s are manufactured goods such as electrical and electronic equipment, aerospace equipment, machinery, chemicals, textile fibers, fuels, iron and steel, and transport equipment. The leading imports are manufactured and consumer goods, foodstuffs, industrial and electrical machinery, semi-finished goods, clothing and accessories, office machinery and data processing equipment, and transport equipment.

6.What sectors can the British economy be divided into? What does each deal with?

The British economy can be divided into three main sectors:

- Primary industries that deal with providing raw materials and food from the land and the sea

- Manufacturing industries that deal with making finished goods from raw materials

-Service industries that deal with providing a wide variety of services.

7.Why is the country self-sufficient in energy?

By successfully exploiting oil and gas from the North sea Britain has become self-sufficient in energy.

8.What mineral resources does the country possess?

GB is also rich in such mineral recourses as iron ore, tin, limestone, salt, china clay, gypsum, and lead.

9.What British agriculture know for?

The British agriculture is known for its high efficiency and productivity according to European standards and based on modern technology and research.

10.Production of what goods does manufacturing cover?

Manufacturing covering production of textile, wood and metal products, paper, plastics, rubber, vehicles, machinery and equipment, and a host of other produced goods.

11.What new industries has Britain made important advances in?

Britain has made important advances in electronics and telecommunications equipment< aircraft and aircraft engines, radio-isotopes and new medicines.

12.Why does GB remain one of the most highly industrialized countries of the world?

Thanks to the increasing use of intensive methods and modern technologies GB remains one of the most highly industrialized countries of the world.

13.Why is electronic data-processing equipment growing? What are the main electronic consumer goods produced in the UK?

Electronic data-processing equipment is the growing industry. Britain has originated a lot of advanced technologies in micro-electronics. The main electronic costumer goods produced are television sets with an increasing proportion of widescreen and digital sets, electronic control equipment.

14.What can you say about the central bank of England? What is it responsible for? How many commercial banks does GB have?

The Bank of England, as the central bank, was nationalized in 1946 and is the bank of issue in England and Wales. It is responsible for the monetary policy of the country and also manages the county’s foreign exchange and gold reserves.

15.Why does government support and promote tourism?

Government support and promote tourism because Britain is one of the world’s foremost travel destinations and tourism is an essential part of Britain’s income.