THE UK ECONOMY
The UK is a developed country and has the world’s sixth-largest economy or economics? economy by GDP what is GDP? the market value of all officially recognized final goods and services produced within a country in a given period of time. How much? 2.440 trillion DOLLARS in 2012 After which countries? US, China, Japan, Germany, France. Russia’s position? 8th after Brazil. So in Europe the UK takes which position? London is the world's largest financial centre alongside New York and it is the world capital for foreign exchange trading.
The British economy comprises (in descending order of size) the economies of England, Scotland, Wales and Northern Ireland. The UK has a partially regulated market economy.
When did the industrial revolution take place in the UK? In the 18th century the UK was the first country in the world to industrialise and during the 19th century it held a dominant role in the global economy. From the late-19th century the Second Industrial Revolution in which countries? the United States and Germany presented an increasing economic challenge to Britain. The Uk stopped being the world’s foremost power at the beginning of the 20th century. But the UK is still sometimes referred to as a great power and retains considerable economic, cultural, military, scientific and political influence internationally. Nuclear weapons? It is a recognized nuclear weapons state and its military expenditure ranks fourth in the world.
What about international organizations? The UK has been a permanent member of the UN Security Council since its first session in 1946. It is a member of the European Union. It is also a member of the Council of Europe, the G7 the U.S., U.K., France, Germany, Italy, Canada and Japan , the G8, the G20, the International Monetary Fund, NATO [‘neitou] and the World Trade Organization.
HM what is HM? Treasury, led by the Chancellor of the Exchequer [i ks ‘ч ek-] who? George Osborne, is responsible for developing and executing the British government’s public finance policy or politics? and economic or economical? policy or politics? And who is the British prime minister? D. Cameron. Where do they live? Downing Street. The Bank of England is the UK’s central bank and is responsible for issuing the nation’s currency, what is it? the pound sterling (GBP) the current exchange rate?51,6 RUB The pound sterling is the world’s third-largest reserve currency after which currencies? The U.S. Dollar and the Euro
The average gross salary is about 2,183 pounds monthly what is gross?, the average net salary is about 1,336 pounds monthly what is net? What about the average net salary in Russia? 26,489 roubles
The poverty line in the UK is calculated to be approximately 480 pounds monthly. About 20% of the population live below this line. What about Russia? 6,400 roubles, about 12%.
What should we speak about now? Economy sectors. Service sector, also known as the tertiary sector, makes up around 78% of GDP. What is service sector? wholesaling, retailing, IT, insurance, horeca, franchising, consulting, education, health, financial and business services, public administration, real estate, tourism, transport, storage, communication. In other words, not industry and not agriculture. Industry contributes about 21% of GDP. Which industries? Electricity, gas and water supply; manufacturing; mining (mainly which? Remember BP oil, gas, coal). Inside manufacturing the automotive industry is significant. Now it is best known for premium and sports car brands including Aston Martin, Bentley, Daimler, Jaguar, Land Rover, Rolls Royce, etc.The aerospace industry (авиакосмическая пром-ть) and the pharmaceutical industry (which brands? GlaxoSmithKline and AstraZeneca) play an important role in the UK economy.
And now some basic info about the UK. Which powers is a country basically characterized by?
Legislative power is represented by what? Parliament. It meets where? In the Palace of Westminster and has how many houses? Two houses: an elected House of Commons and an appointed House of Lords. Any bill passed requires Royal Assent to become law.
Executive power is exercised (осуществляется) by who? the prime minister and the cabinet. The position of prime minister, the UK’s head of government, belongs to the member of parliament who can obtain the confidence of a majority in the House of Commons, usually the current leader of the largest political party in the house.
Judicial power is represented by courts. The UK Supreme Court is the highest court for all criminal and civil cases.
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