What is meant by the Bretton Woods Agreement ? Explain. [CBSE Sept. 2010. 2011]
The Bretton Woods Conference took place in the July of 1944 at Bretton Woods in New Hamsphire, USA. Under this system, the International Monetary Fund (IMP) and the International Bank for Reconstruction and Development (IBRD) were established.
The main terms of this agreement were:
(i) Formation of IMF and IBRD (also called the World Bank).
(ii) To establish monetary cooperation amongst the member countries.
(iii) Adjustable peg foreign exchange rates system was followed, i. the exchange rates were fixed, with the provision of changing them if necessary.
Currencies were required to be convertible for trade related and other current account transactions. The governments, however, had the power to regulate capital flows.
(iv) All member countries were required to subscribe to the IMF’s capital.
‘Economists and politicians drew two key lessons from inter-war economic experiences.’ Explain. [CBSE Sept 2012]
Before the arrival of outsiders most of the Africans had a little reason to work for a wage’. Give reasons.
Why China and other Asian countries became attractive destination for investment by foreign MNC's ?
Read the following passage, and answer the questions that are given below : Grow more jute, brothers, with the hope of greater cash. Costs and debts of jute will make your hopes get dashed. When you have spent all your money and got the crop off the ground _______traders, sitting at home, will pay only ? Rs.5 a maund.
(i) Who made profits from jute cultivation according to the jute growers ?
(ii) Explain the factors which were responsible for the poor condition of jute cultivators.
Define the term ‘Trade Surplus’. How was the income received from trade surplus with India used by Britain? [CBSE 2010, 2012, 2011]
Economists of the 19th century identify three types of movements or ‘flows’ within international economic exchanges.” Explain. [CBSE Sept. 2011. 2012]
Name any two Indian groups of bankers who financed export agriculture in Central and South-east Asia.
The agricultural regions and communities were the worst affected by the Great Depression of 1929'. Give one reason.
Give three examples to show that the world changed with the discovery of new sea routes to America. [CBSE Sept. 2010, 2011, 2012]
Name any two world institutions which were established under the Bretton Woods. Also mention one objective of each.
What was mass production? Explain its impact on the world economy of earlier 20th century.
Name any two world institutions which were established under the Bretton Woods. Also mention one objective of each. [CBSE 2014]
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.
Explain what is referred to as the G-77 countries. In what ways can G-77 be seen as a reaction to the activities of the Bretton Woods twins?
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.
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]
Mention any two factors which were responsible for price rise of food grains in Britain in the late 18th century.
What steps were taken by the British government to improve agriculture in West Punjab ?
How was the income received from trade surplus with India used by Britain ? [CBSE 2008 (D)]
Name the economist who thought that India gold exports during the Great Depression of 1929 promoted global economic recovery.