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Unit 43 – M1
Analyse the factors that resulted in the UK changing from a manufacturing to a services based
economy
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Services based economy – When the UK is run by the third sector of the economy, includes those
economic sectors that provide a service to customers by selling those goods made from the
secondary sector
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One time, the UK was a manufacturing based economy, during both World Wars, where
developing products for businesses was highest in value
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However,
by the late 19th century, the Second Industrial Revolution in the United States meant the USA had
begun to challenge Britain's role as the leader of the global economy
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Reference: http://en
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org/wiki/Economy_of_the_United_Kingdom
However, the UK is now under the services based economy, and there are a number of reasons for
why this change in sector has occurred
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This is because businesses are starting to lose out on profit, since people are spending their main
money on taxes
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Because of this, there is now more preference to the service of businesses rather than the goods of
businesses, leaving them to grow, expand and take on more staff, a cause for the services based
economy to rise
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In 2005 this was due to rising fuel prices, other reasons would include being scaled
back e
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steel, electrical goods, car assembly, etc, or plants moving their services abroad
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One more factor would be the most obvious and common
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Education, police, health care, fire brigade are all free welfare services which have
quickly grown to replace those manufacturing industries and have expanded to employ more people

within this sector
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Conclusion
The manufacturing based economy has been taken over by the services based economy as the
leading sector of the UK
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