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]
This was a period during which most parts of the world experienced catastrophic decline in production, employment, income and trade. The state of Economic Depression set in the United States of America in 1929 and engulfed the entire world. Tins state of Economic Depression set in the United States of America (USA) in 1929. and engulfed the entire world. Hence, it is known as the Greet Depression.
Causes of Economic Depression :
(i) Conditions created by the War: There was an immense industrial expansion in view of the increased demands of goods related to army during the period of the First World War. After the war, the industries went through the same proliferation. However, the sharp decrease in demands for military and war products gave birth to the economic depression.
(ii) Overproduction in agriculture:
Agricultural overproduction was one another major factor responsible for the depression. This was made worse by falling agricultural prices. As prices slumped, and agricultural income declined, farmers tried to expand production, and bring a larger volume of produce to the market to maintain their overall income. This worsened the glut in the market, pushing down prices even further. The farm produce rotted for lack of buyers.
(iii) Shortage of loans : In the mid 1920s, many countries financed their investments through loans from the US. While it was often very easy to raise loans in the US during the boom period, but the US overseas lenders panicked at the first sign of trouble.
(iv) Multiple effect : The withdrawal of lenders from the market had a multiple effect. In Europe, it led to the failure of some major banks, and the collapse of currencies such as the British pound and the sterling.
In Latin America and elsewhere, it intensified the slump in agricultural and raw material prices. The US attempt to protect its economy in the depression by doubling import duties also dealt another severe blow to the world trade.
Name any two Indian groups of bankers who financed export agriculture in Central and South-east Asia.
‘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)]
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How far is it correct to say that "The First World Wax was the First modem industrial war”? Explain. [CBSE Sept. 2010]
Before the arrival of outsiders most of the Africans had a little reason to work for a wage’. Give reasons.
"Food offers many examples of long distance cultural exchange."Explain. [CBSE Sept. 2011]
Or
Assess with examples the contribution of food to the process of globalisation of the early periods. [CBSE 2012]
Give two examples of different types of global exchanges which took place before the seventeenth century, choosing one example from Asia and one from the Americas.
What is NIF.O ?
Or
Why did Group 77 countries demand a New International Economic Order ? Explain. [CBSE 2009 (D). Sept, 2010]
Or
Why did most of the developing countries organise themselves as a group the Group of 77 (G-77) ? [CBSE 2012)
Explain the impact of the Great Depression on the Indian economy. [CBSE Sept. 2010, 2014]
Or
Explain the impact of the Great Depression on Indian farmers in the early twentieth century. [CBSE 2009 (F), Sept. 2012]
Why did the European employers find it difficult to recruit labour in Africa ? Give two methods they used to recruit and retain labour. [CBSE 2011)
Or
Why was there a shortage of labour willing to work for wages in Africa in the 1890s ? How did Europeans try to recruit and retain labour ? Explain any two methods. [CBSE 2012]
Or
What methods were used by the European employers to recruit and retain the African labourers ?
What steps were taken by the British government to improve agriculture in West Punjab ?
Name the economist who thought that India gold exports during the Great Depression of 1929 promoted global economic recovery.
Highlight three main features of life of African people before the coming of Europeans. [CBSE 2013]
India played a crucial role in the late 19th century world economy”. Explain. [CBSE 2014]
Why thousands of people fled Europe for America in the 19th century ?
Or
Why did thousands of people flee away from Europe to America in the 19th century ? Give any three reasons. [CBSE Sept. 2010]
The agricultural regions and communities were the worst affected by the Great Depression of 1929'. Give one reason.
Explain the role of technology in shaping the world economy of the 19th century. [CBSE 2010 (D)]
Or
What was the impact of technology on food availability ? Explain with the help of examples. [CBSE Sept. 2010, 2011, 2014]
Or
What was the role of technology in transforming in the 19th century world ? Explain with an example. [CBSE Sept. 2010]
G-77 can be seen as a reaction to the activities of Bretton Woods Twins. Explain the statement with five arguments. [CBSE 2013]
Mention any two factors which were responsible for price rise of food grains in Britain in the late 18th century.