You should spend about 20 minutes on this task.
The bar chart below shows the net worth of the UK from 2000 to 2010 according to three different sectors.
Summarise the information by selecting and reporting the main features, and make comparisons where relevant.
Write at least 150 words
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Model Answer 1
The bar chart delineates the net worth trends of the UK from the year 2000 to 2010 across three distinct sectors: households, businesses, and government, with the data presented in billions of pounds.
Overall, British households consistently contributed significantly to the UK's net worth, unlike businesses, which maintained a mostly negative net worth during the period. The government's net worth, meanwhile, remained relatively minor
Delving into the data, the total net worth of the UK showed a steady ascent from nearly £4000 billion in 2000 to approximately £6500 billion by 2007. A dip occurred in the subsequent year, bringing it down to around £6000 billion, but it recovered to earlier levels by 2010. The household sector mirrored this pattern but with more pronounced fluctuations, maintaining around £4500 billion from 2000 to 2002, surging to nearly £7000 billion in 2007, then dropping to £6000 billion in 2008, and peaking over £7000 billion in 2010.
Conversely, the government sector's net worth, comparatively modest, maintained a level of around £100 billion until 2004, then experienced a slight increase to approximately £120 billion by 2007, before gradually declining to just below zero by 2010. In stark contrast, the business sector displayed significant volatility in its financial position: it began the decade with a net worth of roughly -£900 billion, saw an improvement to about -£100 billion by 2002, but then plummeted back to around -£900 billion in 2006. Notably, it reached a break-even point in 2008, only to decline again, ending the period with net values of about -£800 billion in 2009 and -£200 billion in 2010.
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Model Answer 2
The bar chart illustrates the net worth of the UK from 2000 to 2010, measured in billions of pounds. Overall, British households consistently contributed significantly to the UK's net worth, unlike businesses, which maintained a mostly negative net worth during the period. The government's net worth, meanwhile, remained relatively minor.
There was a steady increase in the total net worth of the UK between 2000 and 2007, from just below 4000 billion pounds to about 6500 billion; after that the total UK net worth then slid to a trough of 6000 billion, before rising to around 6500 billion pounds again in the last year. Following a similar pattern, the net worth of UK households remained constant at around 4500 billion pounds between 2000 and 2003 but rose significantly afterwards; by 2007, it had reached nearly 7000 billion. In 2008, the net worth significantly dropped to 6000 billion, marking the only year it fell noticeably below the total value of the UK.
In contrast, the government’s net worth remained relatively low throughout the period. It stayed constant at approximately 100 billion pounds from 2000 to 2004, and then went up slightly about 120 billion in 2007, before gradually sliding into a negative value of just under 0 in 2010.
Amidst the backdrop of economic changes, UK businesses experienced significant volatility in their net worth. Initially, their net worth plummeted from approximately -900 billion pounds in 2000 to -100 billion in 2002, before falling back to -900 billion by 2006. In 2008, there was a substantial decrease in debt, bringing their net worth to zero. However, this improvement was short-lived, as it dropped to -800 billion in 2009 and further to -200 billion by 2010.
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