Question

Explain the impact of first world war on Britain's economy .

Answer 1

Answer:

Britain had borrowed liberally from the United States (US). ... Britain was burdened with huge external debts. (iv) The war had led to an economic boom, i.e., to a large increase in demand, production, prices and employment. When the war boom ended production contracted, employment and unemployment increased.

Explanation:

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Answer 2

after the war Britain found it difficult to recapture its earlier position of dominance in the Indian market and to compete with Japan internationally. moreover, to finance expenditure, Britain Britain had borrowed library from the.this meant that that end of war Britain washed bundled with huge external debts.

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