Business Economics Essay Example | Topics and Well Written Essays - 2500 words - 4

Business Economics - Essay ExampleThere ar umteen reasons behind this phenomenon. Kapferer (2008) has argued that one of the main reasons added in this list is that United Kingdom had been counted among the agricultural vault of heaven but now the countrys agricultural field has been replaced with the manufacturing one. This replacement took place during the end of the 18th century.Since then economic growth seen in the United Kingdom has been because of the manufacturing sector rather than the agricultural one. of late the manufacturing sector has been replaced by the service sectors. The effect of manufacturing as well as the service sector on the economy of United Kingdom has to be kept in mind. The replacement of the manufacturing sector with the service sector might be one of the main ingredients because of which the economy of United Kingdom has been affected. Here the main factor that affects the economy of United Kingdom is de industrialization.The term de industrializ ation needs to be defined as it has been use very frequently. In the business world the de industrialization is rather a concept and by many researchers it is defined as a decline in the ratio of the workforce that work in the industrial sector of the particular country. Ingram and Hong (2007) have argued that the greater the work force in the country, greater is the economic nose drops and greater is the development. There are many measures that have been seen to affect industrialization. Some of the main factors that have been counted to decompose the de industrialization indoors the country is the number of the people that are employed in the manufacturing industry within a certain country. Moreover, some of the other main factors that have been added in this list is the manufacturing output in the form of the export and imports that are generated from this manufacturing industry.As de industrialization has been the main form noticed in the country, the change in the