Question

xplain the impact of first world war on Britain ​

Answer 1

Explanation:

⭕When war erupted in the summer of 1914, Britain faced market panic and a massive financial crisis.

⭕ Not only did the government need to reassure the markets, it had to prepare itself for the huge economic demands of total war.

Answer 2

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Britain which was a leading economy of the world before the First World War faced a prolonged crisis

(i) While Britain was pre-occupied with war, industries had developed in Japan and India. After the war, Britain found it difficult to

recapture its earlier position.

{ii) Britain has borrowed liberally from the USA for its war time expenditure, thus at the end of the war, Britain was burdened with huge external debt.

(iii) After the war, production contracted which led to huge job losses. In 1921, one in every

five British workers was out of work. Anxiety and uncertainty about work became an ,

enduring part of the post-war time.

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