What are levels of economic activities?

Answer 1

"What are England's levels of economic activity?" Strange travel question ;-) Are you aware of the great detail your question requires? And that your question has more to do with societal infrastructure rather than travel. Nevertheless, economic analysis Amanda Toop offers the following: Best wishes Neo-liberal economic reform is based on an economic model known as Import Substituting Industrialization, which advocates less state involvement and regulation of the economy, less government spending, and more emphasis on the private sector and foreign trade. This economic model is based on the economic thought of Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776, which reflects thought following Britian's Industrial Revolution. The origins of economic growth were found to be the unhindered operation of the market, and Smith and his followers criticized any attempts by the government to to interfere with the market as likely to damage growth. David Ricardo(1772-1823) extended such ideas to trade between nations and wages, arguing that "like all other contracts, wages should be left to the fair and free competition of the market." The basis for International Monetary Fund programs is found in the second strain of neoliberal thought, monetarism, which is the theory that the change in the monetary supply will lead to an overall corresponding change in the level of prices, but not the output of employment. This theory was developed by Irving Fisher(1867-1947) as the "quantitative theory of money", which was revived by Milton Friedman in the 1960's following John Keynes's General Theory(1936). Classical economics formed the basis for the laissez-faire economic policies of the Victorian age, but the Great Depression convinced many people that the unhindered workings of the market were potentially dangerous. During this time the state adopted a central role in economic management, but during the 1960's these policies ran into trouble and the world looked again towards the simplicity of Smith's model. Today, the solution to underdevelopment is seen as a three stage economic transformation, stabilization, structural adjustment, and export led growth. Stabilization is the process of stopping runaway inflation. Neoliberals believe that inflation can be curbed by reducing the monetary supply through cutting public spending, enacting wage controls, and raising interest rates. Unfortunately, when public spending is cut to reduce budget deficits, social programs are the first to go, reducing heath and education programs for the poor that really need them. In addition to these polices, currencies are usually devalued, creating a trade surplus to ensure that a country does not default on its loans to commercial banks, the IMF, and the World Bank. Stabilization is then followed by a structural adjustment period, that removes artificial price controls and/or trade tariffs. When the economy is restructured, the state's control is removed in favor of the private sector. Deregulation of the economy is also followed by the deregulation of the work force, which allows companies to hire/fire workers with greater ease, restrict union activity, and encouraging subcontracting and short-term contracts. In order to keep the budget balanced, revenue is increased through sales taxes and privatization, in addition to the lower levels of government spending. Export-led growth is the final path to economic recovery. Exports are given the largest priority and private businesses are expected to search out new markets for their products. Removing trade barriers is supposed to aid this process by insuring that the market will allocate resources efficiently, allowing business to cut costs by importing the cheapest goods available. Export-led growth also encourages foreign investors to bring in new technology and capital. The problems with export-led growth will be further investigated in the next sections of this site. What are England's levels of economic activity?" More information pertaining to your question. Best wishes United Kingdom (England) Economy - overview: The UK, a leading trading power and financial center, is one of the quintet of trillion dollar economies of Western Europe. Over the past two decades the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil reserves; primary energy production accounts for 10% of GDP, one of the highest shares of any industrial nation. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. GDP growth slipped in 2001-03 as the global downturn, the high value of the pound, and the bursting of the "new economy" bubble hurt manufacturing and exports. Output recovered in 2004, to 3.2% growth, but fell in 2005, to 1.8%. Despite slower growth, the economy is one of the strongest in Europe; inflation, interest rates, and unemployment remain low. The relatively good economic performance has complicated the BLAIR government's efforts to make a case for Britain to join the European Economic and Monetary Union (EMU). Critics point out that the economy is doing well outside of EMU, and they cite public opinion polls that continue to show a majority of Britons opposed to the euro. Meantime, the government has been speeding up the improvement of education, transport, and health services, at a cost in higher taxes and a widening public deficit.

Answer 2

England has no economic activities in its own right as it is part of the United Kingdom of England, Scotland, Wales and Northern Ireland.

The UK is the world's 6th largest national economy with a nominal GDP of $2.480 trillion.

Its main activities are:

Agriculture, hunting, forestry, and fishing

Construction

Production industries such as Electricity, gas and water supply, Manufacturing, Mining and quarrying

Service Industries such as Creative Industries, Education, health and social work, Financial and business services, Hotels and restaurants, Other social and personal services, Public administration and defense, real estate and renting activities, Tourism, Transport, storage and communication, Wholesale and retail trade.

Answer 3

Economic activities include farming, manufacturing, and service industries including tourism.