What was mass production? Explain its impact on the world economy of earlier 20th century.
Production of goods on large-scale with the help of machines is known as mass production.
Impact :
(i) Mass production lowered costs and prices of engineered goods Thanks to higher wages, more workers could now afford to purchase durable consumer goods such as cars. Car production in US rose from 2 million in 1919 to more than 5 million in 1929.
(ii) The demand for refrigerators, washing machines, etc. was also fuelled by a boom in house construction and home ownership, financed once again by loans.
(iii) The housing and consumer boom of the 1920s created the basis of prosperity in the US. Large investments in housing and household goods seemed to create a cycle of higher employment and incomes, rising consumption demand, more investment, and yet more employment and incomes.
Define the term ‘Trade Surplus’. How was the income received from trade surplus with India used by Britain? [CBSE 2010, 2012, 2011]
Name the economist who thought that India gold exports during the Great Depression of 1929 promoted global economic recovery.
Explain the impact of the First World War on Britain.
Or
How did the First World War change the economic life of the people in Britain ? Explain. [CBSE 2008 (D)]
Or
Describe in brief the world economic conditions of the post First World War period. [CBSE 2010 (D), Sept. 2012, 2013]
Highlight three main features of life of African people before the coming of Europeans. [CBSE 2013]
Name any two countries which became major supplier of wheat during the First World War.
What were the main sources of attraction for Europeans to come to Africa in the late nineteenth century ? How did they exploit their resources ? [CBSE 2010 (F)]
India played a crucial role in the late 19th century world economy”. Explain. [CBSE 2014]
Write any three factors responsible for indentured labour migration from India. [CBSE Sept. 2010. 2013]
Give two examples of different types of global exchanges which took place before the 17th century, choosing one example from Asia, and one from the America.
‘The First World War was modern industrial war’. Explain.
Or
Explain how the First World War was so horrible a war like none other before. [CBSE 2010 (0)]
Or
How far is it correct to say that "The First World Wax was the First modem industrial war”? Explain. [CBSE Sept. 2010]
How was the income received from trade surplus with India used by Britain ? [CBSE 2008 (D)]
Explain the three types of movements or flows within international economic exchange. Find one example of each type of flow which involved India and Indians, and write a short account of it.
What do you know about the Great Depression ? Explain the major factors responsible for the Great Depression. [CBSE 2008 (F), Sept. 2010, 2011, 2012, 2013]
Name the disease which had terrifying impact on people's livelihoods and local economy of Africa during 1890's.