The Making of a Global World — Complete Question Bank
A. MCQs — Multiple Choice Questions
1.
Which of the following best explains why globalisation is not purely a modern phenomenon?
A. Ancient societies had no trade
B. People, goods, ideas and cultures had crossed long distances for centuries
C. Globalisation began only after the Second World War
D. Ancient economies were completely isolated
Answer: B
2.
The Silk Routes connected:
A. Only China and India
B. Asia with Europe and northern Africa
C. Only Europe and Africa
D. America with Australia
Answer: B
3.
Which of the following was an important commodity travelling westward from China through the Silk Routes?
A. Cotton
B. Wheat
C. Silk
D. Coal
Answer: C
4.
Which religion originated in eastern India and spread along the Silk Routes?
A. Christianity
B. Buddhism
C. Islam
D. Judaism
Answer: B
5.
Which group of crops reached Europe and Asia from the Americas?
A. Wheat and rice
B. Potatoes, maize and tomatoes
C. Tea and coffee
D. Cotton and wheat
Answer: B
6.
Why did the introduction of potatoes have a major social impact in Europe?
A. They became an export crop only
B. They improved food availability for poor people
C. They replaced all other crops
D. They were used mainly as animal feed
Answer: B
7.
European conquest of the Americas was greatly assisted by:
A. Gold alone
B. Superior ships alone
C. Diseases such as smallpox
D. Indian merchants
Answer: C
8.
Why were indigenous Americans particularly vulnerable to European diseases?
A. They lived in cities
B. They had little immunity to diseases introduced from Europe
C. They had no agricultural system
D. They had no contact with each other
Answer: B
9.
Which two countries were among the world’s richest until well into the eighteenth century?
A. Britain and France
B. India and China
C. Spain and Portugal
D. America and Australia
Answer: B
10.
The three major flows of nineteenth-century international economic exchange were:
A. Food, religion and culture
B. Trade, labour and capital
C. Ships, railways and telegraphs
D. Agriculture, industry and mining
Answer: B
11.
What was the main effect of abolishing the Corn Laws on Britain?
A. Food imports became cheaper
B. Food production stopped completely
C. British farmers became more competitive
D. Overseas migration ended
Answer: A
12.
Why did many British agricultural workers migrate after the Corn Laws were abolished?
A. Britain prohibited agriculture
B. Foreign food imports competed with British agriculture
C. They were recruited into the army
D. They wanted to establish colonies
Answer: B
13.
The global agricultural economy required all of the following EXCEPT:
A. Railways
B. Ports
C. Capital
D. Isolation
Answer: D
14.
Which technology made the long-distance transportation of perishable meat practical?
A. Telegraph
B. Steam engine
C. Refrigerated ships
D. Printing press
Answer: C
15.
The Berlin meeting of 1885 was associated with:
A. The creation of the IMF
B. The division of Africa among European powers
C. The abolition of indentured labour
D. The Bretton Woods Agreement
Answer: B
16.
Rinderpest was:
A. A human disease
B. A crop disease
C. A cattle disease
D. A tropical plant
Answer: C
17.
Approximately what proportion of African cattle were killed by rinderpest?
A. 25%
B. 50%
C. 75%
D. 90%
Answer: D
18.
One important consequence of rinderpest in Africa was:
A. Greater independence of African peasants
B. Increased European control over labour and resources
C. Decline of European influence
D. End of mining
Answer: B
19.
Indentured labour refers to:
A. Voluntary unpaid religious work
B. Contract-based bonded labour for a specified period
C. Military service
D. Permanent slavery without a contract
Answer: B
20.
Which region was a major source of Indian indentured labourers?
A. Punjab only
B. Eastern Uttar Pradesh and Bihar
C. Kashmir only
D. Bengal only
Answer: B
21.
Which was NOT a major destination of Indian indentured workers?
A. Trinidad
B. Mauritius
C. Fiji
D. Germany
Answer: D
22.
Which of the following represents cultural fusion among Indian migrants?
A. Hosay
B. Corn Laws
C. Bretton Woods
D. Rinderpest
Answer: A
23.
Indian nationalist leaders opposed indentured labour because it was:
A. Too profitable
B. Abusive and exploitative
C. Limited to India
D. Beneficial only to workers
Answer: B
24.
Indian bankers such as the Shikaripuri Shroffs and Nattukottai Chettiars were involved mainly in:
A. Financing export agriculture
B. Manufacturing cars
C. European politics
D. Military recruitment
Answer: A
25.
What happened to Indian cotton textile exports during the nineteenth century?
A. They increased dramatically
B. They remained unchanged
C. Their share declined sharply
D. They completely replaced British textiles
Answer: C
26.
Which Indian export became particularly important from the 1820s in Britain’s trade with China?
A. Wheat
B. Opium
C. Tea
D. Coal
Answer: B
27.
Britain used its trade surplus with India partly to:
A. Finance its deficits with other countries
B. End all international trade
C. Develop Indian industries
D. Abolish colonialism
Answer: A
B. MCQs — Inter-war Economy
28.
The First World War began in:
A. 1905
B. 1914
C. 1918
D. 1929
Answer: B
29.
The First World War is described as the first:
A. Agricultural war
B. Industrial war
C. Colonial war
D. Nuclear war
Answer: B
30.
Which group belonged to the Central Powers?
A. Britain, France and Russia
B. Germany, Austria-Hungary and Ottoman Turkey
C. Britain, US and Japan
D. France, Germany and Russia
Answer: B
31.
Approximately how many people were killed in the First World War according to the chapter?
A. 2 million
B. 5 million
C. 9 million
D. 20 million
Answer: C
32.
How did WWI affect Europe’s workforce?
A. It increased the working-age male population
B. It reduced the able-bodied workforce
C. It ended unemployment
D. It stopped industrial production permanently
Answer: B
33.
During WWI, women increasingly entered jobs previously performed mainly by:
A. Children
B. Men
C. Farmers
D. Traders
Answer: B
34.
The First World War transformed the United States from:
A. Creditor to debtor
B. Debtor to creditor
C. Colony to empire
D. Importer to isolated economy
Answer: B
35.
Which country faced a prolonged post-war economic crisis because it had lost some of its earlier industrial and commercial advantages?
A. Britain
B. China
C. Brazil
D. Australia
Answer: A
36.
In 1921, approximately how many British workers were unemployed?
A. One in ten
B. One in twenty
C. One in five
D. One in two
Answer: C
37.
Why did wheat prices fall after the First World War?
A. Wheat production declined everywhere
B. Eastern European production recovered, creating excess supply
C. Governments banned wheat
D. Demand increased sharply
Answer: B
38.
Henry Ford is particularly associated with:
A. Telegraphy
B. Assembly-line mass production
C. Refrigerated shipping
D. Canal irrigation
Answer: B
39.
The assembly-line system aimed primarily to:
A. Slow production
B. Increase production speed and efficiency
C. Reduce the use of machines
D. Increase workers’ control over the pace of work
Answer: B
40.
The T-Model Ford was:
A. A mass-produced automobile
B. A railway engine
C. A ship
D. A tractor
Answer: A
41.
Which system allowed consumers to buy goods through instalment payments?
A. Free trade
B. Hire purchase
C. Barter
D. Tariff protection
Answer: B
42.
US car production increased from about 2 million in 1919 to more than:
A. 3 million in 1929
B. 4 million in 1929
C. 5 million in 1929
D. 10 million in 1929
Answer: C
43.
The Great Depression began around:
A. 1914
B. 1918
C. 1929
D. 1944
Answer: C
44.
The Great Depression lasted approximately until:
A. 1931
B. 1935
C. 1940
D. 1945
Answer: B
45.
Which sector was particularly badly affected during the Great Depression?
A. Agriculture
B. Luxury tourism only
C. Education
D. Postal services
Answer: A
46.
A major cause of the Great Depression was:
A. Agricultural overproduction
B. Complete absence of international loans
C. Rapid growth in agricultural prices
D. Lack of industrial production before 1929
Answer: A
47.
Why did agricultural overproduction worsen the Depression?
A. Farmers reduced production when prices fell
B. Farmers produced more to compensate for falling prices, increasing the glut
C. Governments purchased all crops
D. Food became scarce
Answer: B
48.
What happened to US overseas loans in the late 1920s?
A. They increased enormously
B. They were sharply reduced
C. They became interest-free
D. They were transferred to Britain
Answer: B
49.
The US responded to the Depression partly by:
A. Reducing import duties
B. Doubling import duties
C. Abolishing tariffs
D. Increasing foreign loans
Answer: B
50.
By 1933, more than how many US banks had closed?
A. 500
B. 1,000
C. 4,000
D. 10,000
Answer: C
C. MCQs — Great Depression in India
51.
Between 1928 and 1934, India’s exports and imports:
A. Doubled
B. Nearly halved
C. Remained unchanged
D. Increased by 50%
Answer: B
52.
Between 1928 and 1934, wheat prices in India fell by approximately:
A. 20%
B. 30%
C. 50%
D. 75%
Answer: C
53.
Which group suffered most from falling agricultural prices?
A. Urban salaried workers
B. Peasants and farmers
C. Industrialists only
D. Government officials
Answer: B
54.
The price of raw jute fell by more than:
A. 20%
B. 40%
C. 60%
D. 80%
Answer: C
55.
During the Depression, India became an important exporter of:
A. Machinery
B. Gold
C. Cars
D. Refrigerators
Answer: B
56.
Mahatma Gandhi launched the Civil Disobedience Movement in:
A. 1928
B. 1929
C. 1931
D. 1935
Answer: C
D. MCQs — Post-war World and Bretton Woods
57.
The Second World War lasted approximately:
A. 4 years
B. 5 years
C. 6 years
D. 10 years
Answer: C
58.
According to the chapter, at least how many people died directly or indirectly as a result of WWII?
A. 20 million
B. 40 million
C. 60 million
D. 100 million
Answer: C
59.
Which two powers strongly influenced post-WWII reconstruction?
A. Britain and France
B. US and Soviet Union
C. India and China
D. Japan and Germany
Answer: B
60.
One key lesson from the inter-war period was that mass production required:
A. Mass unemployment
B. Mass consumption
C. Lower wages
D. Reduced trade
Answer: B
61.
The Bretton Woods Conference took place in:
A. 1919
B. 1929
C. 1944
D. 1950
Answer: C
62.
The IMF was established mainly to deal with:
A. Agricultural production
B. External financial surpluses and deficits
C. Colonial administration
D. Industrial labour disputes
Answer: B
63.
The World Bank was originally established to:
A. Finance post-war reconstruction
B. Control world trade
C. Run colonial governments
D. Produce currencies
Answer: A
64.
The IMF and World Bank are together known as:
A. Global Twins
B. Bretton Woods twins
C. Western Banks
D. Development League
Answer: B
65.
The Bretton Woods monetary system was based on:
A. Floating exchange rates
B. Fixed exchange rates
C. Barter exchange
D. Gold coins only
Answer: B
66.
Under Bretton Woods, the US dollar was linked to gold at:
A. $15 per ounce
B. $25 per ounce
C. $35 per ounce
D. $50 per ounce
Answer: C
67.
Between 1950 and 1970, world trade grew annually by more than:
A. 3%
B. 5%
C. 8%
D. 12%
Answer: C
68.
The G-77 demanded a:
A. New International Economic Order
B. New European Economic Order
C. Global Military Organisation
D. New Colonial Agreement
Answer: A
69.
Which was NOT a G-77 demand?
A. Greater control over natural resources
B. Fairer prices for raw materials
C. Better access to developed markets
D. Restoration of colonial rule
Answer: D
70.
MNC stands for:
A. Monetary National Corporation
B. Multinational Corporation
C. Modern National Company
D. Multilateral National Council
Answer: B
71.
Why did high import tariffs encourage MNCs to establish production in different countries?
A. To become domestic producers in those markets
B. To stop manufacturing
C. To reduce employment
D. To end international trade
Answer: A
72.
The collapse of the Bretton Woods fixed exchange-rate system resulted in:
A. Complete abolition of currencies
B. Floating exchange rates
C. Return to barter
D. End of international trade
Answer: B
73.
From the late 1970s, MNCs increasingly shifted production towards:
A. High-wage European countries
B. Low-wage Asian countries
C. Antarctica
D. North Africa only
Answer: B
74.
Why did China become attractive to foreign MNCs?
A. Extremely high wages
B. Low wages and a low-cost production structure
C. Absence of workers
D. Lack of markets
Answer: B
E. Fill in the Blanks
- The __________ Routes connected Asia with Europe and northern Africa.
Answer: Silk - __________ from the Maldives were used as a form of currency in distant regions.
Answer: Cowries - __________ was one of the diseases that devastated indigenous populations of the Americas.
Answer: Smallpox - The three major flows of nineteenth-century international economic exchange were trade, labour and __________.
Answer: capital - The British laws restricting the import of corn were called the __________ Laws.
Answer: Corn - The British decision to abolish the Corn Laws encouraged cheaper __________ of food.
Answer: imports - __________ ships made it possible to transport perishable food over long distances.
Answer: Refrigerated - The European powers met in Berlin in __________ to divide African territories.
Answer: 1885 - __________ was a devastating cattle disease in Africa.
Answer: Rinderpest - Indian workers employed under fixed contracts abroad were called __________ labourers.
Answer: indentured - Indian indentured labour was abolished in __________.
Answer: 1921 - The decline of Indian textile exports was accompanied by a rise in exports of __________ materials.
Answer: raw - Britain exported __________ from India to China and used the earnings to finance imports from China.
Answer: opium - The First World War lasted from __________ to __________.
Answer: 1914; 1918 - Henry Ford became famous for __________ production.
Answer: mass - Ford’s production system was based on the __________ line.
Answer: assembly - The Great Depression began around __________.
Answer: 1929 - The Great Depression continued until the __________-1930s.
Answer: mid - During the Depression, India’s wheat prices fell by about __________ per cent.
Answer: 50 - The Bretton Woods Conference was held in __________ in 1944.
Answer: New Hampshire - The IMF and World Bank are known as the Bretton Woods __________.
Answer: twins - The Bretton Woods system used __________ exchange rates.
Answer: fixed - The dollar was fixed to gold at __________ per ounce.
Answer: $35 - The Group of __________ demanded a New International Economic Order.
Answer: 77 - MNC stands for __________.
Answer: Multinational Corporation - Floating exchange rates depend mainly on the demand and __________ of currencies.
Answer: supply
F. True or False
- Global connections began only in the twentieth century.
False - The Silk Routes carried both goods and ideas.
True - Buddhism spread along the Silk Routes.
True - Potatoes originated in Europe.
False - European diseases contributed to the conquest of the Americas.
True - The nineteenth-century world economy involved flows of goods, labour and capital.
True - Abolition of the Corn Laws made imported food cheaper in Britain.
True - Railways and steamships had little importance in nineteenth-century global trade.
False - Refrigerated ships helped reduce the cost of transporting meat.
True - Rinderpest strengthened the economic independence of African peasants.
False - Indian indentured labourers worked only within India.
False - Indian indentured labour was abolished in 1921.
True - Indian textile exports increased throughout the nineteenth century.
False - The First World War was the first modern industrial war.
True - The United States became an international creditor after WWI.
True - The Great Depression began around 1929.
True - Agricultural regions were among the worst affected by the Depression.
True - India’s agricultural exports were unaffected by the Great Depression.
False - The IMF was created at Bretton Woods.
True - The Bretton Woods system used floating exchange rates from the beginning.
False - G-77 countries demanded a New International Economic Order.
True - MNCs increasingly shifted production to low-wage Asian countries from the late 1970s.
True
G. Match the Following
Set 1
| Column A | Column B |
|---|---|
| 1. Silk Routes | a. Cattle disease |
| 2. Rinderpest | b. Cultural and commercial connections |
| 3. Corn Laws | c. British restrictions on corn imports |
| 4. Indentured labour | d. Contract-based bonded labour |
Answers:
1–b, 2–a, 3–c, 4–d
Set 2
| Column A | Column B |
|---|---|
| 1. Henry Ford | a. IMF |
| 2. Bretton Woods | b. Mass production |
| 3. Great Depression | c. 1929 |
| 4. G-77 | d. NIEO |
Answers:
1–b, 2–a, 3–c, 4–d
Set 3
| Column A | Column B |
|---|---|
| 1. Refrigerated ships | a. Raw cotton |
| 2. Indian export transformation | b. Meat transport |
| 3. Opium | c. China |
| 4. World Bank | d. Post-war reconstruction |
Answers:
1–b, 2–a, 3–c, 4–d
H. Assertion–Reason Questions
Choose:
A. Both A and R are true, and R correctly explains A.
B. Both A and R are true, but R does not correctly explain A.
C. A is true, but R is false.
D. A is false, but R is true.
1.
Assertion: The abolition of the Corn Laws encouraged Britain’s dependence on imported food.
Reason: Imported food became cheaper than much of the food produced domestically.
Answer: A
2.
Assertion: Refrigerated ships changed European food consumption.
Reason: They made it possible to transport frozen meat over long distances at lower cost.
Answer: A
3.
Assertion: Rinderpest helped European colonisers strengthen their control over Africa.
Reason: The destruction of cattle weakened African livelihoods and made labour more available to colonial enterprises.
Answer: A
4.
Assertion: Indian textile exports declined during the nineteenth century.
Reason: British industrialists pressured the government to protect British manufacturers through tariffs.
Answer: A
5.
Assertion: The United States became an international creditor after WWI.
Reason: Britain borrowed heavily from US banks and the American public to finance the war.
Answer: A
6.
Assertion: The Great Depression affected India severely.
Reason: India was already integrated into international trade as an exporter of agricultural goods.
Answer: A
7.
Assertion: The Bretton Woods system aimed at economic stability.
Reason: Policymakers believed governments needed to intervene to maintain stable employment and incomes.
Answer: A
8.
Assertion: The Bretton Woods system was based on fixed exchange rates.
Reason: National currencies were pegged to the US dollar, while the dollar was linked to gold.
Answer: A
9.
Assertion: Developing countries formed the G-77.
Reason: Many developing countries felt that they had not shared adequately in post-war economic growth.
Answer: A
10.
Assertion: MNCs increasingly shifted production to Asian countries from the late 1970s.
Reason: Lower wages made some Asian countries attractive production locations.
Answer: A
I. Very Short Answer Questions
Answer in 1–2 sentences.
- What is meant by globalisation in the broad historical sense?
- What were the Silk Routes?
- Name two goods that travelled along the Silk Routes.
- How did food contribute to global cultural exchange?
- Why was smallpox important in the conquest of the Americas?
- Name the three flows of nineteenth-century international economic exchange.
- What were the Corn Laws?
- Why did Britain begin importing food on a large scale?
- What were Canal Colonies?
- What role did railways play in the nineteenth-century global economy?
- Why were refrigerated ships important?
- What was rinderpest?
- How did rinderpest affect African labour?
- Define indentured labour.
- Name two destinations of Indian indentured workers.
- What is cultural fusion?
- Name two groups of Indian bankers/traders active abroad.
- What happened to India’s cotton textile exports during the nineteenth century?
- Why was opium important in Britain’s trade with China?
- What was the major economic effect of WWI on Britain’s finances?
- What is mass production?
- What is meant by hire purchase?
- What was the Great Depression?
- Mention one major cause of the Great Depression.
- How did the Depression affect Indian peasants?
- What was the Bretton Woods system?
- What were the Bretton Woods twins?
- What is a fixed exchange rate?
- What is a floating exchange rate?
- What is the G-77?
- What was the NIEO?
- What is an MNC?
- Why did MNCs move production towards low-wage Asian countries?
J. Short Answer Questions — 3 Marks
1.
Explain how the Silk Routes encouraged both economic and cultural exchange.
2.
How did the discovery of America change the global economy?
3.
Explain the relationship between the abolition of the Corn Laws and migration.
4.
How did food production in distant regions become connected to British demand?
5.
Explain three ways technology transformed nineteenth-century international trade.
6.
Why did European colonialism have destructive effects on African societies?
7.
Explain how rinderpest contributed to the economic transformation of Africa.
8.
Why did Indians migrate as indentured labourers during the nineteenth century?
9.
Describe the conditions faced by Indian indentured workers.
10.
How did Indian migrants create new cultural identities overseas?
11.
Explain the decline of India’s cotton textile exports under colonial rule.
12.
Why did raw-material exports from India increase during the nineteenth century?
13.
Explain how the First World War affected Europe’s workforce.
14.
How did mass production contribute to the consumer boom in the US?
15.
Explain the relationship between agricultural overproduction and the Great Depression.
16.
How did the withdrawal of American loans spread the Depression internationally?
17.
Explain the effects of the Great Depression on rural India.
18.
Why was the Great Depression less severe for some urban Indians?
19.
What two major lessons did policymakers draw from the inter-war economic crisis?
20.
Explain the main functions of the IMF and World Bank.
21.
Why did developing countries demand a New International Economic Order?
22.
Why did MNCs become increasingly important in the post-war world economy?
23.
Why did the Bretton Woods system collapse?
24.
Why did low-wage Asian countries attract foreign investment?
K. Long Answer Questions — 5 Marks
1.
“The making of the global world has a long history.” Explain the statement with suitable examples from the pre-modern period.
2.
Explain how trade, migration and capital flows together created a global economy in the nineteenth century.
3.
Describe the process through which Britain became dependent on imported food and explain its wider consequences.
4.
Explain the role of technology in transforming nineteenth-century global trade, using refrigerated shipping as an example.
5.
Describe the impact of European colonial expansion on Africa in the late nineteenth century.
6.
Explain the causes, nature and consequences of Indian indentured labour migration.
7.
How did colonialism transform India’s position in the international trade system?
8.
Explain the major economic and social consequences of the First World War.
9.
Explain the causes of the Great Depression and its impact on the world economy.
10.
Describe the impact of the Great Depression on the Indian economy and society.
11.
Explain the circumstances that led to the establishment of the Bretton Woods system.
12.
Describe the structure and objectives of the Bretton Woods institutions.
13.
Explain how the post-war international economic system changed after the 1950s.
14.
Why did developing countries demand the NIEO? Explain the role of the G-77.
15.
Explain the transition from the Bretton Woods system to the era of globalisation.
L. Case/Source-Based Questions
Case 1 — Silk Routes
Read the passage conceptually:
Pre-modern trade routes connected distant regions through the movement of silk, textiles, spices, precious metals, travellers and religious ideas.
Questions
- What were these routes commonly called?
- Name one Chinese product associated with them.
- Name one religion that spread along them.
- Why can these routes be regarded as more than trade routes?
Answers:
- Silk Routes
- Silk
- Buddhism
- They facilitated cultural and religious exchange as well as trade.
Case 2 — Rinderpest
A cattle disease entered Africa through infected cattle and spread rapidly. It killed most of the cattle in many affected regions, destroying an important source of livelihood.
Questions
- Identify the disease.
- What animal did it primarily affect?
- How did its spread affect African livelihoods?
- How did colonial powers benefit from the resulting economic crisis?
Answers:
- Rinderpest
- Cattle
- Livestock losses destroyed livelihoods.
- Control over remaining cattle resources helped colonial authorities and employers force more Africans into wage labour.
Case 3 — Great Depression
During the Depression, agricultural prices collapsed. Farmers attempted to increase production to maintain income, but this created an even greater surplus and pushed prices down further.
Questions
- What economic crisis is described?
- Why did farmers increase production?
- Why did this strategy fail?
- Name another major factor that helped spread the crisis internationally.
Answers:
- Great Depression
- To compensate for falling prices and income.
- Greater production increased the surplus and caused prices to fall further.
- Withdrawal of US loans.
Case 4 — Bretton Woods
After WWII, policymakers wanted an international economic system that could promote stable incomes, employment and economic stability.
Questions
- Which conference established the framework?
- In what year?
- Name the two institutions created.
- What type of exchange-rate system was introduced?
Answers:
- Bretton Woods Conference
- 1944
- IMF and World Bank
- Fixed exchange rates.
M. Chronology Questions
Arrange the following in the correct chronological order.
1.
- Bretton Woods Conference
- First World War
- Great Depression
- Abolition of Indian indentured labour
Answer:
First World War → Abolition of indentured labour → Great Depression → Bretton Woods Conference
2.
- Rise of mass production
- Great Depression
- First World War
- Post-war Bretton Woods system
Answer:
First World War → Rise of mass production → Great Depression → Bretton Woods system
3.
- G-77 formation
- Bretton Woods Conference
- End of fixed exchange rates
- Growth of MNCs
Answer:
Bretton Woods Conference → Growth of MNCs → G-77/NIEO phase → End of fixed exchange rates
N. “Identify Me” Questions
1.
I connected Asia with Europe and northern Africa and carried goods as well as ideas.
Who/what am I?
Answer: Silk Routes
2.
I am a cattle disease that killed about 90% of cattle in affected African regions.
Who am I?
Answer: Rinderpest
3.
I am a system in which workers were contracted to work for a fixed period and often faced harsh conditions.
Who am I?
Answer: Indentured labour
4.
I pioneered assembly-line automobile production.
Who am I?
Answer: Henry Ford
5.
I was the major global economic crisis beginning around 1929.
Who am I?
Answer: Great Depression
6.
I was established to address external financial imbalances among member countries.
Who am I?
Answer: IMF
7.
I was established to finance post-war reconstruction.
Who am I?
Answer: World Bank
8.
I am the group of developing countries that demanded a New International Economic Order.
Who am I?
Answer: G-77
9.
I am a company operating in several countries.
Who am I?
Answer: MNC
10.
I replaced fixed exchange rates when the Bretton Woods monetary system collapsed.
What am I?
Answer: Floating exchange rates
O. Important “Give Reasons” Questions
- Why did European conquest of the Americas cause massive loss of indigenous life?
- Why did Britain abolish the Corn Laws?
- Why did the abolition of the Corn Laws increase migration?
- Why were refrigerated ships economically important?
- Why did colonial powers want African labour?
- Why did rinderpest strengthen colonial control in Africa?
- Why did Indians migrate as indentured workers?
- Why did Indian textile exports decline?
- Why did the US become an international creditor after WWI?
- Why did mass production lead to increased consumption in the US?
- Why did agricultural overproduction contribute to the Great Depression?
- Why did the withdrawal of US loans worsen the Depression?
- Why were Indian peasants badly affected by the Great Depression?
- Why did policymakers believe governments needed to intervene in the economy after WWII?
- Why did developing countries demand the NIEO?
- Why did MNCs relocate production to low-wage Asian countries?
P. High-Value Conceptual Questions
These are particularly useful for board-exam preparation because they test understanding rather than memorisation.
1.
How did the movement of food contribute to the creation of a global economy?
2.
How can diseases influence economic and political history?
3.
Why can nineteenth-century globalisation be described as both beneficial and exploitative?
4.
How were labour migration and capital investment connected during the nineteenth century?
5.
How did colonialism change India’s role in world trade?
6.
Why did technological progress not necessarily benefit all sections of society equally?
7.
How did the Great Depression demonstrate the interconnectedness of the world economy?
8.
Why was the post-war economic system deliberately designed differently from the inter-war system?
9.
How did decolonisation create new challenges for the global economic system?
10.
How did the movement of MNCs contribute to the emergence of the modern global economy?
Top 20 Questions to Prepare First
If you don’t want to solve everything, master these 20:
- Explain the importance of the Silk Routes.
- How did food become an agent of global exchange?
- How did disease contribute to European conquest of the Americas?
- Explain the three flows of nineteenth-century international exchange.
- Explain the consequences of abolishing the Corn Laws.
- Explain the role of technology in nineteenth-century globalisation.
- Explain the impact of rinderpest on Africa.
- What was indentured labour and why did Indians migrate?
- Explain the cultural impact of Indian indentured migration.
- Explain the decline of Indian textile exports.
- Explain India’s role in Britain’s multilateral trade system.
- Explain the economic consequences of WWI.
- How did Henry Ford’s mass production system work?
- Explain the causes of the Great Depression.
- Explain the impact of the Great Depression on India.
- What were the two major lessons of the inter-war period?
- Explain the Bretton Woods system.
- What were the IMF and World Bank established for?
- Why did G-77 demand the NIEO?
- Explain the end of Bretton Woods and the emergence of modern globalisation.