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Showing posts from September 7, 2018

British Economy

History of U.K. be whatever may be, a power in Europe by various ups and downs over the passage of time in terms of administration, currency, having dominance in different countries, getting involved in two world wars, faced devaluations of its currency, inflation among others, U.K.is as of now, a western style democracy operating under free market economic growth. It has many similarities to social democracies of European Union. But in many ways, U.K.is more conservative economically. It consists of four countries namely England, North Ireland, Scotland and Wales.  U.K.is the first country in the world to become industrialized and today on an average 14 people works for mining, manufacturing & building sector for every one in agriculture sector.The only major secondary industry that is growing is the construction industry, fuelled by  Economic growth  by growing Services, Administrative, Financial services sectors. It dominates the economy contributing about 80% of GDP. London is