Uk Economic System
UK’s Economic System and the Impact of Policies on an Organisation
The United Kingdom operates a diversified economy that is one of the largest in the world. The British economic system exhibits the characteristics of a mixed system, combining market-based features with some socialist characteristics.
Service industries account for 75 percent of the U.K.'s economic output. Industry accounts for 23.8 percent of output while agriculture represents 1.2 percent. Overall, the United Kingdom's mixed economy has mostly free market features but retains some socialist characteristics, such as the government owning a stake in some industries.
A report to understand how the characteristics of the UK economy, fiscal, monetary and competition polices can impact on an organisation. Within this report I hope determine in detail all the characteristics of the UK economy, government fiscal and monetary policies and how each one effects on the Tesco PLC organisation. I plan to give a clear and comprehensive look into each of the factors which build the UK economy and analyze and evaluate with strong evidence of application to theory throughout the report.
The UK subscribes to a democratic, parliamentary system of governance known as the Westminster system. The structure of the administration ensures that there is an adequate separation of powers between
Page 2 of 7 the executive branch, led by the prime minister, the bicameral legislature and the judiciary, and that there is a system of checks and balances in place. The current population of the UK is 61.1 million.
The UK was one of the largest macro-economy in the world. It was seen to be one of the strongest and most stable economies before 2007, however post 2008 economic deceleration began and the GDP growth rate fell to 0.7%. In 2008, the economy entered into a recession, with a predicted negative growth rate of -4.5% for the following year. (Data monitor Statistics)
The current conservative government’s
The United Kingdom operates a diversified economy that is one of the largest in the world. The British economic system exhibits the characteristics of a mixed system, combining market-based features with some socialist characteristics.
Service industries account for 75 percent of the U.K.'s economic output. Industry accounts for 23.8 percent of output while agriculture represents 1.2 percent. Overall, the United Kingdom's mixed economy has mostly free market features but retains some socialist characteristics, such as the government owning a stake in some industries.
A report to understand how the characteristics of the UK economy, fiscal, monetary and competition polices can impact on an organisation. Within this report I hope determine in detail all the characteristics of the UK economy, government fiscal and monetary policies and how each one effects on the Tesco PLC organisation. I plan to give a clear and comprehensive look into each of the factors which build the UK economy and analyze and evaluate with strong evidence of application to theory throughout the report.
The UK subscribes to a democratic, parliamentary system of governance known as the Westminster system. The structure of the administration ensures that there is an adequate separation of powers between
Page 2 of 7 the executive branch, led by the prime minister, the bicameral legislature and the judiciary, and that there is a system of checks and balances in place. The current population of the UK is 61.1 million.
The UK was one of the largest macro-economy in the world. It was seen to be one of the strongest and most stable economies before 2007, however post 2008 economic deceleration began and the GDP growth rate fell to 0.7%. In 2008, the economy entered into a recession, with a predicted negative growth rate of -4.5% for the following year. (Data monitor Statistics)
The current conservative government’s