Question

Explain the three impacts of the First World War on the British economy.
OR
Describe the functions performed by supply merchants in export trade.

CBSE Class X Social Science SA ( 3 marks)

Answer 1

1. During the war british mills were busy in war production 2. new factories were set up and old once works in multiple shifts 3. During the war industrialist gained their position and old once can't recapture his old position

Answer 2

(i) After the war, Britain found it difficult to recapture its earlier position of dominance in the Indian market, and to compete with Japan internationally.

(ii) Moreover, to finance war expenditures, Britain had borrowed liberally from the US. This meant, that at the end of the war, Britain was burdened with huge external debts.

 (iii) The war had led to an economic boom, that is a huge increase in demand, production and employment. When the war ended, production contracted and unemployment increased.

(iv) At the same time, the government reduced bloated war expenditures to bring them into line with peacetime revenues. These developments lead to huge job losses.

OR

(i) Supply merchants linked the port towns to the inland regions.

(ii) They gave advances to weavers, procured the woven cloth from wearing villagers and carried the supply to the ports.

(iii) At ports, they had brokers who negotiated the price and bought goods from the supply merchants who were operating inland.