The Making of Global World
Question: What is EI Dorado? (The Making of Global World)
– It was considered to be the fabled city of gold for which many expeditions were set off to find it.
Question: What was the Rinderpest? (The Making of Global World)
Answer: This was a fast spreading disease of cattle which affected in South Africa in 1980.
Question: Small pox killed large numbers of native American – Why?
Answer: Because of their long time isolation they lost their immunity power for fighting against the diseases. Hence, so many natives of Americans died due to small pox.
Question: What do you know about Henry Ford?
Answer: Henry ford was very well known pioneer of mass production of car manufacturing. He adopted an ‘assembly line’ system in the field of car of car manufacture for first time.
Question: What is the full form of IMF?
Answer: International Monetary Fund.
Question: Enumerate the importance of Silk Routes? **
- The Silk Routes are a good example of vibrant pre-modern trade and cultural links between distant parts of the World.
- They were spread over land and sea knitting together vast regions of Asia and linking with Europe and Africa.
- Chinese pottery, textiles and spices from India traveled to Europe.
- In return, precious metals-gold and silver flowed from Europe to Asia.
- Buddhism, Christian missionaries, Muslim preachers also traveled through this route to Asia.
Question: Why have the historians described the 19th century indenture as a ‘new 3 system of Slavery’. Example five reasons. ** (The Making of Global World)
Answer: Indentured labour was described as a ‘new system of slavery’ because:
- Agents tempted the poor people by giving false information about the nature of work, living and working condition, final destinations, modes of travel, etc.
- Less willing workers were at times forcible abducted by the agents.
- On the plantation, the working conditions were harsh and they had a few legal rights.
- They were beaten or imprisoned for not being able to meet tasks that used to be heavy or for running away from the job.
- Normal medical attention was given to them and wages were deducted in case of absence at work or failure to fulfil the task.
Question: Explain the impacts of scrapping of the Corn Laws. ***
Answer: Under the pressure from industrialists and urban dwellers, the British Government abolished the Corn Laws. The effects of it were –
- Food could be imported into Britain more cheaply than it would be produced within the country.
- British agriculture was unable to compete with imports. Vast areas of lands were left uncultivated and people started migrating to cities or other countries in search of work.
- As food prices fell, consumption in Britain rose. Faster industrial growth in Britain also led to higher incomes and therefore, more food imports.
- Around the world in Eastern Europe, Russia, America, Australia, Lands were cleared and food production expanded to meet the British demand.
Question: Explain the effects of the Great Depression of 1929 on the Indian economy. ***
Answer: The Great Depression immediately affected Indian trade in the following ways –
- India’s exports and imports nearly halved between 1928 and 1934. As international prices crashed, prices in India also plunged.
- Peasants and farmers suffered more than urban dwellers. Agricultural prices fell sharply, but the colonial government refused to reduce revenue demands.
- Peasants producing for the world market were the worst hit. As gunny exports collapsed, the price of raw jute crashed more than 60 per cent.
- Jute producers fell deeper and deeper into dept.
- The Great Depression had a political impact. It paved the way for Gandhiji to launch the Civil Disobedience Movement in India.
Question: Why the year 1929 known as the Great Depression? Explain the main factors responsible for the Great Depression. ***
Answer: The Great Depression was caused by several factors. Its prominent factors were –
- Many countries financed their investments through loans from the US. In the early 1920s, the economy of the US was strong. But the over production in industrial and agricultural sector led to the depression.
- There was a spurt in the purchase of refrigerators, washing machines, radio, gramophone players etc through hire-purchase. With the fall in prices and the prospect of depression, US banks slashed domestic lending and called back loans.
- Farms could not sell their harvests, households were ruined and business collapsed. The consumerist prosperity of 1920s disappeared.
- Faced with falling incomes, many households could not repay what they had borrowed. They even were forced to give up their homes, cars and other consumer durable.
- US banking system collapsed. Between 1929 and 1933, over 4000 banks had closed and 110,000 companies had collapsed.
Hence, we can say that the roots of Great Depression lie in this ‘boom’. The aforementioned reasons explain the given statement. Read more….