Manufacturing and services

Date: 2015-10-07; view: 586.

The term secondary refers to manufacturing and construction, and tertiary to service industry. At one time one of the world's greatest manufacturing centres, Britain gas largely given up producing goods in favour of other kinds of economic activity. As manufacturing decline, so the service industries expanded. Many people have been worried by this change: how can it be economically perspective to stop building ships and opening restaurants instead?

Tourism, transport and telecommunications are all important growth areas. Financial services such as accountancy, insurance and banking are very big business, too.

The heart of the prosperous zone is London, and in the heart of London is the headquarters of successful financial services sector – the City. This is a confusing term: the whole of London is a city, but the City, originally surrounded by Roman walls and spelt with capital C, refers to the square mile of offices and banks around the bank of England. Today, the City is one of the world's biggest financial centres and handles 59 per cent of international share trading.

3. Discuss the questions:

1. What is secondary industry? Give examples.

2. What is tertiary industry? Give examples.

3. Which industries have declined and which have expanded in Britain?

4. What is the difference between the city of London and the City of London?