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"The Structural change that has taken place in the UK economy over the past half century is a result of economic maturity". Assess the Validity of this statement.
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"The Structural change that has taken place in the UK economy over the past half century is a result of economic maturity". Assess the Validity of this statement. Word count: 1,351 All the time, patterns of consumer demand are shifting and structure of output changes as a response. Resources are constantly being reallocated from one use to another, depending on changes in the economy. Economic maturity can be described as a developed stage of productivity growth, a changing pattern in demand within the economy whereby taste, ideas and income change from business and public alike. The structure of an economy is traditionally divided up into three sectors: primary, secondary and tertiary. The structural change of the British economy over the past fifty years has basically seen a decline in the manufacturing (secondary) sector and increase in the public (tertiary) sector. The size of these sectors can be measured by the percentage...
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