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.
What is NIF.O ?
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Why did Group 77 countries demand a New International Economic Order ? Explain. [CBSE 2009 (D). Sept, 2010]
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Why did most of the developing countries organise themselves as a group the Group of 77 (G-77) ? [CBSE 2012)
Name the economist who thought that India gold exports during the Great Depression of 1929 promoted global economic recovery.
Name any two world institutions which were established under the Bretton Woods. Also mention one objective of each. [CBSE 2014]
Name any two countries which became major supplier of wheat during the First World War.
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 China and other Asian countries became attractive destination for investment by foreign MNC's ?
Explain the consequences of the Second World War.
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Describe in brief the destruction caused during the Second World War. [CBSE 2010 (O), Sept. 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.
‘The First World War was modern industrial war’. Explain.
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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.
Name any two Indian groups of bankers who financed export agriculture in Central and South-east Asia.
Why were the Corn Laws scrapped ? Explain any three reasons.[CBSE Comp. (D) 2008, 2009 (F), Sept. 2011]
Why thousands of people fled Europe for America in the 19th century ?
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Why did thousands of people flee away from Europe to America in the 19th century ? Give any three reasons. [CBSE Sept. 2010]
India played a crucial role in the late 19th century world economy.” Explain by giving an example.
Or
What was the importance of the Indian trade for the Britishers ?
Or
How did India play a crucial role in the nineteenth century world economy ? Explain with examples. [CBSE Comp. (O) 2008]