The factors or circumstances leading to the end of the Bretton Woods system and the beginning of 'Globalization, are as given below: (i) From the 1960s, us finances and competitive strength weakened due to rising costs of its overseas involvements' us dollar was no longer a principal currency in theRead more
The factors or circumstances leading to the end of the Bretton Woods system and the beginning of ‘Globalization, are as given below:
(i) From the 1960s, us finances and competitive strength weakened due to rising costs of its overseas involvements’ us dollar was no longer a principal currency in the world. It could not maintain its value in relation to gold.
(ii) weakening of US position led to the collapse of fixed exchange rates. Its place was taken up by floating exchange rates.
(iii) From mid-1970s, the developing countries were forced. to borrow from western commercial banks and private lending institutions. This resulted in debt-cri.u.,1o*”, income and increase in poverty in Africa and Latin America.
(iv) The industrial countries were also hit by unemployment from the mid-1970s and remained high until the early 1990s.
(v) MNCs began to shift production operations to low-wage Asian countries to earn more profits’ Low wages in china made that country an attractive destination for investment by MNCs to capture world markets.
(vi) Some other incidents like new economic policies in china, the collapse of Soviet Union and soviet-style communism in Eastern Europe brought many countries into the fold of the world economy. These activities increased world trade and capital flows.
Two lessons are as given below: (i) An industrial society based on mass production cannot be sustained without mass consumption. To ensure mass consumption there should be stable income and full employment which in turn need intervention of the government. (ii) The goal of full employment can only bRead more
Two lessons are as given below:
(i) An industrial society based on mass production cannot be sustained without mass consumption. To ensure mass consumption there should be stable income and full employment which in turn need intervention of the government.
(ii) The goal of full employment can only be achieved if the government has the power to control flows of goods, capital and labour. it is related to country’s economic links with the outside world.
Major effects of the Great Depression on the US were as given below: (i) There was fail in prices. (ii) US banks and loans: US banks reduced domestic lending and asked people to return their loans. People, however, could not repay the loans due to lesser incomes. They were forced to give up their hoRead more
Major effects of the Great Depression on the US were as given below:
(i) There was fail in prices.
(ii) US banks and loans: US banks reduced domestic lending and asked people to return their loans. People, however, could not repay the loans due to lesser incomes. They were forced to give up their homes, cars and other consumer durables.
(iii) Unemployment: Unemployment increased.
(iv) Collapse of US banking system: US banking system collapsed as it could not recover loans and repay depositors. Thousands of banks went bankrupt and were closed. By 1933, over 4,000 banks had closed. Between 1929 and 1932 about 1.10,000 companies had collapsed.
The main causes of the Great Depression were as follows: (i) Agricultural over-production: As the agricultural prices were failing and there was decline in agricultural income, the farmers tried to increase their income by more production. However, this resulted in further fall in prices. Farm produRead more
The main causes of the Great Depression were as follows:
(i) Agricultural over-production: As the agricultural prices were failing and there was decline in agricultural income, the farmers tried to increase their income by more production. However, this resulted in further fall in prices. Farm products rotted in the market for lack of buyers. This created more hardships of the farmers.
(ii) Financial dependence of many countries on US and crisis: Many countries of the world were dependent on US. They had taken loans from that country. It was easy to raise loans in US if everything was fine.
(iii) By the year 1929 US overseas lenders panicked at the first sign of trouble. They stopped loans to the European countries thus halting ai1 production there.
(iv) The financial problems such as failure of banks, collapse of currencies (the British pound-sterling), slump in agricultural and raw material prices. The US government doubled import duties to protect its economy and it proved to be another severe blow to world trade.
The US recovery was quicker than the European countries. The war had already; helped the US economy. There was, however, some trouble after the war but the US economy grew in the early 1920s due to followings measures: (i) Mass production: The growth of US economy was due to mass production. Car manRead more
The US recovery was quicker than the European countries. The war had already;
helped the US economy. There was, however, some trouble after the war but the US economy grew in the early 1920s due to followings measures:
(i) Mass production: The growth of US economy was due to mass production. Car
manufacturer Henry Ford made significant contribution in this fields. He adopted the assembly line of a Chicago slaughter-house in his new car plant in Detroit. As a result of this method, production of cars increased and a car was ready every. three-minutes. The T-Model Ford was the world’s first mass-produced car.
(ii) Hire purchase system: Increase in wages led to spurt in the purchase of refrigerators, washing machines, radio and other household products through a system of ‘hire-purchase’.
(iii) The demand in above products led to a boom in house construction and home
ownership which were again financed by loans.
(iv) In 1923 US resumed exporting capital to the rest of the world and became the largest overseas investor. US imports and exports also boomed.
The condition of countries with agricultural economies, particularly wheat producing countries was bad. During the war, for example, supply of what was disrupted in Eastern Europe. The production of wheat, however, in Canada, America and Australia increased significantly. After the war once again prRead more
The condition of countries with agricultural economies, particularly wheat producing countries was bad. During the war, for example, supply of what was disrupted in Eastern Europe. The production of wheat, however, in Canada, America and Australia increased significantly. After the war once again production in Eastern Europe was revived leading to more supply of wheat in the market. As result of it, prices of grain fell and incomes declined and farmers fell deeper into debt. the agricultural economies suffered more after the war.
The impact of the First World War on the socio-economic conditions of the world was as mentioned below: (i) Men went to battle: Most of the men killed and maimed were men of working age. This reduced the able-bodied workforce in Europe. Thus women took up the jobs that were done by men earlier. (ii)Read more
The impact of the First World War on the socio-economic conditions of the world was as mentioned below:
(i) Men went to battle: Most of the men killed and maimed were men of working age. This reduced the able-bodied workforce in Europe. Thus women took up the jobs that were done by men earlier.
(ii) Economic links between some of the largest economic powers snapped as they were now fighting with each other.
(iii) Britain borrowed large sums and us public.
(iv) USA turned into an international creditor from being an international debtor.
Describe The factors responsible for the end of the Bretton Woods system and the beginning woods of ‘Globalisation’.
The factors or circumstances leading to the end of the Bretton Woods system and the beginning of 'Globalization, are as given below: (i) From the 1960s, us finances and competitive strength weakened due to rising costs of its overseas involvements' us dollar was no longer a principal currency in theRead more
The factors or circumstances leading to the end of the Bretton Woods system and the beginning of ‘Globalization, are as given below:
(i) From the 1960s, us finances and competitive strength weakened due to rising costs of its overseas involvements’ us dollar was no longer a principal currency in the world. It could not maintain its value in relation to gold.
(ii) weakening of US position led to the collapse of fixed exchange rates. Its place was taken up by floating exchange rates.
(iii) From mid-1970s, the developing countries were forced. to borrow from western commercial banks and private lending institutions. This resulted in debt-cri.u.,1o*”, income and increase in poverty in Africa and Latin America.
(iv) The industrial countries were also hit by unemployment from the mid-1970s and remained high until the early 1990s.
(v) MNCs began to shift production operations to low-wage Asian countries to earn more profits’ Low wages in china made that country an attractive destination for investment by MNCs to capture world markets.
(vi) Some other incidents like new economic policies in china, the collapse of Soviet Union and soviet-style communism in Eastern Europe brought many countries into the fold of the world economy. These activities increased world trade and capital flows.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
Describe two lessons drawn by the politicians and economists from the inter-war economic experiences.
Two lessons are as given below: (i) An industrial society based on mass production cannot be sustained without mass consumption. To ensure mass consumption there should be stable income and full employment which in turn need intervention of the government. (ii) The goal of full employment can only bRead more
Two lessons are as given below:
(i) An industrial society based on mass production cannot be sustained without mass consumption. To ensure mass consumption there should be stable income and full employment which in turn need intervention of the government.
(ii) The goal of full employment can only be achieved if the government has the power to control flows of goods, capital and labour. it is related to country’s economic links with the outside world.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
Describe the effects of the Great Depression on the US.
Major effects of the Great Depression on the US were as given below: (i) There was fail in prices. (ii) US banks and loans: US banks reduced domestic lending and asked people to return their loans. People, however, could not repay the loans due to lesser incomes. They were forced to give up their hoRead more
Major effects of the Great Depression on the US were as given below:
(i) There was fail in prices.
(ii) US banks and loans: US banks reduced domestic lending and asked people to return their loans. People, however, could not repay the loans due to lesser incomes. They were forced to give up their homes, cars and other consumer durables.
(iii) Unemployment: Unemployment increased.
(iv) Collapse of US banking system: US banking system collapsed as it could not recover loans and repay depositors. Thousands of banks went bankrupt and were closed. By 1933, over 4,000 banks had closed. Between 1929 and 1932 about 1.10,000 companies had collapsed.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
Explain the causes of the Great Depression.
The main causes of the Great Depression were as follows: (i) Agricultural over-production: As the agricultural prices were failing and there was decline in agricultural income, the farmers tried to increase their income by more production. However, this resulted in further fall in prices. Farm produRead more
The main causes of the Great Depression were as follows:
(i) Agricultural over-production: As the agricultural prices were failing and there was decline in agricultural income, the farmers tried to increase their income by more production. However, this resulted in further fall in prices. Farm products rotted in the market for lack of buyers. This created more hardships of the farmers.
(ii) Financial dependence of many countries on US and crisis: Many countries of the world were dependent on US. They had taken loans from that country. It was easy to raise loans in US if everything was fine.
(iii) By the year 1929 US overseas lenders panicked at the first sign of trouble. They stopped loans to the European countries thus halting ai1 production there.
(iv) The financial problems such as failure of banks, collapse of currencies (the British pound-sterling), slump in agricultural and raw material prices. The US government doubled import duties to protect its economy and it proved to be another severe blow to world trade.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
Explain any four measures adopted by America for postwar recovery.
The US recovery was quicker than the European countries. The war had already; helped the US economy. There was, however, some trouble after the war but the US economy grew in the early 1920s due to followings measures: (i) Mass production: The growth of US economy was due to mass production. Car manRead more
The US recovery was quicker than the European countries. The war had already;
helped the US economy. There was, however, some trouble after the war but the US economy grew in the early 1920s due to followings measures:
(i) Mass production: The growth of US economy was due to mass production. Car
manufacturer Henry Ford made significant contribution in this fields. He adopted the assembly line of a Chicago slaughter-house in his new car plant in Detroit. As a result of this method, production of cars increased and a car was ready every. three-minutes. The T-Model Ford was the world’s first mass-produced car.
(ii) Hire purchase system: Increase in wages led to spurt in the purchase of refrigerators, washing machines, radio and other household products through a system of ‘hire-purchase’.
(iii) The demand in above products led to a boom in house construction and home
ownership which were again financed by loans.
(iv) In 1923 US resumed exporting capital to the rest of the world and became the largest overseas investor. US imports and exports also boomed.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
What was the condition with agricultural economies after the world war I?
The condition of countries with agricultural economies, particularly wheat producing countries was bad. During the war, for example, supply of what was disrupted in Eastern Europe. The production of wheat, however, in Canada, America and Australia increased significantly. After the war once again prRead more
The condition of countries with agricultural economies, particularly wheat producing countries was bad. During the war, for example, supply of what was disrupted in Eastern Europe. The production of wheat, however, in Canada, America and Australia increased significantly. After the war once again production in Eastern Europe was revived leading to more supply of wheat in the market. As result of it, prices of grain fell and incomes declined and farmers fell deeper into debt. the agricultural economies suffered more after the war.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/
What Was the Impact of the First World War on the socio-economic conditions of the world? Write four points.
The impact of the First World War on the socio-economic conditions of the world was as mentioned below: (i) Men went to battle: Most of the men killed and maimed were men of working age. This reduced the able-bodied workforce in Europe. Thus women took up the jobs that were done by men earlier. (ii)Read more
The impact of the First World War on the socio-economic conditions of the world was as mentioned below:
(i) Men went to battle: Most of the men killed and maimed were men of working age. This reduced the able-bodied workforce in Europe. Thus women took up the jobs that were done by men earlier.
(ii) Economic links between some of the largest economic powers snapped as they were now fighting with each other.
(iii) Britain borrowed large sums and us public.
(iv) USA turned into an international creditor from being an international debtor.
for more answers vist to:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/history/chapter-1/