Explain any five factors that led to the Great Depression of 1929.
OR
Describe the techniques which were adopted by the Manchester industrialists to sell their goods in India.
OR
How did people of different classes organise their new found leisure in England ? Explain.
CBSE Class X Social Science LA (5 Marks)
Answers
. Great Depression began around 1929 and lasted till the mid 1930s. During this period, most parts of the world experienced decline in production, employment, incomes and trade. Agricultural regions and communities were the most affected.
Causes of Great Depression :
(i) Post-World War economy of the world was fragile. Agricultural over production was a problem. As prices slumped, farm produce rotted.
(ii) Many countries financed loans from the U.S.
(iii) U.S. overseas lenders panicked at the sign of financial crisis.
(iv) Thus, banks were bankrupt and were forced to close down in Europe and in the U.S. because they were unable to recover investments, collect loans and repay depositors.
(v) American capitalists stopped all loans.
OR
(i) The Manchester made cloth carried a label with 'Made in Manchester' written in bold. This assured the buyers of the quality of the cloth.
(ii) The British manufacturers used images of Indian Gods and Goddesses on the labels. It symbolized the divine approval for the commodity. It also created familiarity with the Indian buyers.
(iii) Manufacturers got calendars printed with the images of Gods and the advertisement of their products.
The calendars were seen on the walls of hotels, tea shops, households, etc. These were used even by people who could not read.
(iv) Images of historical characters and heroes from the past were also displayed on calendars thus sending the message that the product was as worthy of respect as were these respectable characters.
(v) The Indian manufacturers printed the image of Bharat Mata and a nationalist message on the labels. They also printed 'Made in India' on the labels thus appealing to the nationalist sentiments. Most of the baby products carried the image of Lord Krishna to appeal to the religious sentiments.
OR
(i) For the wealthy Londoners, there was the annual 'London Season' where elite groups could enjoy several cultural events such as the opera and theatre.
(ii) Working classes too had their own means of entertainment. They used to meet in pubs and enjoy a drink, exchange news and discuss political events.
(iii) The establishment of libraries, museums and art galleries provided entertainment to common people.
(iv) Music halls and later cinema houses became a source of mass entertainment.
(v) Industrial workers spent holidays by the sea shore and enjoyed both sun and the wind which was a great source of entertainment.
Answer:
Causes of Great Depression:
(i) Post-world war economy of the world was fragile. Agricultural over production was a problem. As prices slumped, farm produce rotted.
(ii) Many countries financed loans from the U.S.
(iii) U.S. overseas lenders panicked at the sign of financial crisis.
(iv) Thus, banks were bankrupt and were forced to close down in Europe and in the US because they were unable to recover investments, collect loans and repay depositors.
(v) American capitalists stopped all loans.