UK industry on the defence - 2 views
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Tim O on 26 Sep 11This video talks about how after the economic crisis a company located in England called BAE, the world's second largest military defense company who employs more than 40,000 people, talks about opportunity cost because of the resent cut backs in their contract. It talks about how England is trying to become more reliant on industry instead of finance. Lastly, it talks about the companies cuts from the government and job security because local governments have cut their spending with BAE, they are spending their money to invest into their own economy. Finally, I think it relates to scarcity because money itself is scare and government have to decide how to spend it efficiently.