The block of rock is called a footwall
The body of water it would be found is north sea.
Two ways in which the proximity to water has affected Western Europe's economy:
1) Proximity of water can lead to lack of food, which affects economy of the country in various ways.
2) It has wet cool summers and wet, mild winters, so for shelters and cloths, it affects economy by transportation, extra manufacture etc.
Hope this helps!
