Business and Economy web directory: 41 resources.

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Business and Economy Web Directory

UK's economy is primarily based on the supply and demand economic model. By having a relatively regulated market economy, the UK currently represents the 6th largest economy in the world and the 3rd largest European economy.

Although UK's economy also benefits from agriculture, fishing, mining or from its manufacture industry, the main sector which amounts approximately 73% of GDP is the country's tertiary sector of economy – the service industry. London in the United Kingdom and New York in the United States form the two largest financial centers in the world.

The official currency of the UK is the pound sterling. The Pound sterling is one of the 3 most powerful currencies alongside the euro and the U.S. dollar. UK's central bank in charge of issuing currency is the Bank of England. Nonetheless, banks in Northern Ireland and

Scotland retain the right to issue separate notes, while reserving an anchor currency of notes issued by the Bank of England. Many other governments and institutions hold a UK anchor currency in the main purpose of international transactions, making the pound sterling the 3rd largest reserve currency in the world.

The Industrial Revolution began in England. The transition to a new kind of economy made its early steps on UK territory beginning with the 1760s. This major historical struggle for improvement and technological development has left its mark not only on UK's economy, but on the entire world.