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Essay: UK economics

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  • Subject area(s): Economics essays
  • Reading time: 3 minutes
  • Price: Free download
  • Published: October 21, 2015*
  • File format: Text
  • Words: 881 (approx)
  • Number of pages: 4 (approx)
  • UK economics
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In order to navigate through the macro environment a company has to be aware of certain factors involving the macro economy. Below is a description of the key factors that has been made – these are the most relevant to take note of.
The united kingdom is governed within the framework of constitutional monarchy in which the monarch is the head of state and the prime minster of the United kingdom is the head of government. Uk is the third largest economy in Europe after Germany and France. Over the past two decades , the government has greatly reduced public ownership and contained the growth of social welfare program. As The Uk’s knows as good growth country been able to grow it is important for the UK’s , and it getting better at producering and exporting in order to raise the standard of living .The Uk became a net importer of energy in 2005. After emerging from recession in 1992, Britian’s economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008 however the global financial crisis hit the economy. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain’s economic problem pushing the economy into recession in the latter half of 2008 and promoting the government to implement a number of measures to stimulate the economy and stabilize the financial markets: in 2010 the government initiated a five ‘years austerity program, to lower budget deficit from over 10 procent of GDP in 2010 to nearly 1 % by 2015. The government raised the value added tax from 17,5 to 20%, in 2011.
The GDP growth in Uk was in first quarter of 2015, 0,3% and has been good in the begging of 2013. If we compare a country like Denmark GDP 2015 Q1 =0,5%. The United Kingdom as a country has a high standard of living, it performs well on the better life index of OECD (Organisation for Economic Co-operation and Development) in many areas, in short they do well on community and wealth but not too good in work , because they have long hours work day, if we comparing in Denmark, in Denmark we don’t have long hours work. In united Kingdom, average household net ‘ adjusted disposable incomes per capita is USD 27029 a year, more than the OECD average of USD 25908 a year , But there is a considerable gap between the richest and poorest ‘ the top 20% of the population earn nearly six times as much as the bottom 20%. In terms of employment, over 71% of people aged 15 to 64 in the United Kingdom have a paid job, above the OECD employment average of 65%. Some 76% of men are in paid work, compared with 67% of women. In the United Kingdom, about 13% of employees work very long hours, in line with the OECD average, with 19% of men working very long hours compared with just 6% for women. People in the United Kingdom are more satisfied with their lives than the OECD average
The living standard in UK says a lot about the potential growth new product Juliana Orangery Greenhouses can gain in UK because people with more money will be upgrading some of the daily basis their garden ,especially when they care about a lot environment since Juliana company has been all about environment and the company has been in Uk market before. In 2015 Uk has -0,1% deflation rate that means their goods has less value than before. Inflation is around 1-2procent a year to be healthy. Balance of payment each country trades with other countries and each country want to achieve stabile balance so they don’t own anyone money, if they have unbalance economy so there will focused on consumer spending rather than investment and exports will tend to have bigger current account deficit.
Juliana Greenhouse releasing their new product will have a good chance because UK gardening and outdoor living market has fluctuated between growth and decline in recent years. In appendix the United Kingdom gardening will grower , in 2013 the UK gardening and outdoor living market had total revenues of $ 6.4bn representing a compound annual growth rate (CAGR) of 0,9% between 2009-2013 if we compare other countries like Germany and French markets grew with (CAGR’s) of 1,4 % and 1,4 % in the same period , to reach good values of $8.9 bn and $12.8bn in 2013. The reason why is Germany and France have higher revenues is that they are more farmer country if we compare UK.
According to the world Bank’s doing business index from 2014 The UK is placed one of the best country in the world in terms of doing business. Uk it is member of G8 now it is G7(-Russia ) G8 is coalitions of 8 of the world’s leading industrialized nation .
In UK they use British pound is the oldest currency still in use today, as well as one of the most commonly converted currencies. It is also the highest valued among the major currencies as currency which is different than everybody else, macro wise that could have an effect on the Norwegian market. For example if one takes the GBP compared to the Danish krone (DKK)

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