The form of industrial organization and the pattern of ownership are varied in Britain. They include three categories 1. unincorporated sector(small), 2. corporate sector(bi 3. public sector enterprises British economy is called corporate economy. Why? Like American corporations, British companies are very big. These big companies, including both the public and state-owned companies, account for about 60 percent of the gross domestic product. Britain has a number of state-run enterprises. These state-run enterprises are mainly concerned with public transportation, water supply, production of coal, steel oil and electricity. They make up about 1/4 of the Britain's gross domestic product (GDP) Britain's private business, no matter big and small, accounts for some 3/4 of the gross domestic product. Private business is mainly concerned with agricultural, nufacturing, financial and serv ice industries. Britain has about 2,000,000 small (unincorporated) businesses and more than 700,000 corporate enterprises Britain's economy can be classified as belonging to the market economy. Thats to say its economic ups and downs are heavily influenced by the demand of the market. Trend towards corporate monopolies has always been strong in Britain as in other capitalist countries. Big corporations tend to monopolize production and the market so as to achieve maximum profit by eliminating competition. So in order to prevent monopolies from distorting the role of the market, the English government has passed laws to restrict the development of monopolies Il. Absolute Decline and relative decline Britain was the first country in the world to start the industrial revolution It took the lead in the development of economy in the world in the 19th century. but by 1900 it was overtaken by both the US and germany At the beginning of the 20th century, a series of crisis occurred. The First World War started in July 1914 and ended in November 1918. As a result, the British and their allies won the war. But although Britain got more colonies from the germans in Africa and the Pacific. the war was disastrous to britain To some extent Britain was I)The lose of the sea power Before 1914, Britain had been the worlds lead ing shipping nation, transporting not only her own imports and exports, but also those of many other countries. During the war. Britain lost about 2.700. 000 casualties. which were more than a hundred times the loss in the Napoleonic Wars. It had also lost 70% of her merchant ships. Ir15 The form of industrial organization and the pattern of ownership are varied in Britain. They include three categories: 1. unincorporated sector (small), 2. corporate sector (big), 3. public sector enterprises. ---British economy is called corporate economy. Why? Like American corporations, British companies are very big. These big companies, including both the public and state-owned companies, account for about 60 percent of the gross domestic product. Britain has a number of state-run enterprises. These state-run enterprises are mainly concerned with public transportation, water supply, production of coal, steel oil and electricity. They make up about 1/4 of the Britain’s gross domestic product (GDP). Britain’s private business, no matter big and small, accounts for some 3/4 of the gross domestic product. Private business is mainly concerned with agricultural, manufacturing, financial and service industries. Britain has about 2,000,000 small (unincorporated) businesses and more than 700,000 corporate enterprises. Britain’s economy can be classified as belonging to the market economy. That’s to say its economic ups and downs are heavily influenced by the demand of the market. Trend towards corporate monopolies has always been strong in Britain as in other capitalist countries. Big corporations tend to monopolize production and the market so as to achieve maximum profit by eliminating competition. So in order to prevent monopolies from distorting the role of the market, the English government has passed laws to restrict the development of monopolies. II. Absolute Decline and Relative Decline Britain was the first country in the world to start the industrial revolution. It took the lead in the development of economy in the world in the 19th century. But by 1900, it was overtaken by both the US and Germany. At the beginning of the 20th century, a series of crisis occurred. The First World War started in July 1914 and ended in November 1918. As a result, the British and their allies won the war. But although Britain got more colonies from the Germans in Africa and the Pacific, the war was disastrous to Britain. To some extent, Britain was also a loser. 1) The lose of the sea power Before 1914, Britain had been the world’s leading shipping nation, transporting not only her own imports and exports, but also those of many other countries. During the war, Britain lost about 2,700,000 casualties, which were more than a hundred times the loss in the Napoleonic Wars. It had also lost 70% of her merchant ships. In