Q.1. Give two examples of different types of global exchanges which took place before the 17th century, choosing one example from Asia, and one from America.
Ans.
(a) Asia: The silk routes are a good example of vibrant pre-modern trade before the 17th century. The historians have identified several silk routes, overland and by sea, linking Asia with Europe and northern Africa. .These routes were used for trades in Chinese pottery, textiles and spices from India and Southeast Asia. In return, precious metals – gold and silver – came from Europe to Asia.’ Secondly, Christian missionaries and later Muslim preachers travelled through these routes. It may be mentioned here that in ancient times, Buddhism too spread in several directions through intersecting points on the silk routes.
(b) Americas: After the discovery of the Americas by Christopher Columbus, many of our common foods such as potatoes, soya, groundnuts, maize, tomatoes, chilies came from America’s original inhabitants i.e., the American Indians. From the sixteenth century, America’s vast lands, abundant crops and minerals transformed trade and lives everywhere. Precious metals like silver from mines in Peru and Mexico enhanced Europe’s wealth and financed its trade with Asia. Legends spread in seventeenth-century Europe about South America’s fabled wealth. Many expeditions set off in search of El Dorado, the fabled city of gold. Thus there were global exchanges before the seventeenth century.
Q.2. Explain how the global transfer of disease in the pre-modem world helped in the colonisation of America. [CBSE 2008 (O), Sept. 2010, 2011]
Ans. Refer Q.No. 2, Value Based Questions.
Q.3. Write a note and explain the effects of the following :
(a) The British government’s decision to abolish the Corn Laws.
(b) The coming of rinderpest to Africa.
(c) The death of men of working-age in Europe because of the World War.
(d) The Great Depression on the Indian economy.
(e) The decision of MNCs to relocate production to Asian countries.
Ans. (a) Refer Q.No. 2, Long Answer Type Questions.
(b) Refer Q.No. 5, Value Based Questions.
(c) (i) Reduction in the workforce: Most of the killed and injured were men of working age. These deaths and injuries reduced the able-bodied workforce in Europe. With fewer numbers within the family, the household income declined after the war.
(ii) New Social Set-up : The entire societies were reorganized for war – as men went to battle, women stepped in to undertake jobs that earlier only men were expected to do.
(d) Refer Q.No. 17, Long Answer Type Questions.
(e) (i) Wages are relatively low in Asian countries due to excess supply of workers.
(ii) Most of these economies have low cost structure.
(iii) Most of these countries have a huge market.
Q.4. Give two examples from history to show the impact of Science and Technology on food availability.
Ans.
(i) Availability of cheap food in different markets: Improvements in transport; faster railways, lighter wagons and larger ships helped move food more cheaply and quickly from the far-away farms to the final markets.
(ii) Impact on meat: Till the 1870s, meat from America was shipped to Europe in the form of live animals which were then slaughtered in Europe. But live animals took up a lot of ship space. But the invention of refrigerated ships made it possible to transport meat from one region to another. Now animals were slaughtered in America, Australia or New Zealand, and then transported to Europe as frozen meat. The invention of the refrigerated ship had the following advantages :
- This reduced shipping costs and lowered meat prices in Europe.
- The poor in Europe could now consume a more varied diet.
- To the earlier, monotony of bread and potatoes many, not all, could add meat, butter and eggs.
- Better living conditions promoted social peace within the country, and support for imperialism abroad.
Q.5. What is meant by the Bretton Woods Agreement ?
Ans.
The main aim of the post-war international economic system was to preserve economic stability and full employment in the industrial world. The United Nations Monetary and Financial Conference held in July 1944 at Bretton Woods in New Hampshire in the USA agreed upon its framework.
The Bretton Woods Conference established the following institutions :
- International Monetary Fund:Its aim was to deal with external surpluses and deficits of its member nations.
- The International Bank for Reconstruction and Development or World Bank was set “Up to finance post-war reconstruction.
- The above institutions are known as The Bretton Woods institutions or Bretton Woods twins. The post-war international economic system is also often described as the Bretton Woods system. It was based on fixed exchange rates. National currencies were pegged to the dollar at a fixed exchange rate. The dollar itself was anchored to gold at a fixed price of $ 35 per ounce of gold.
- The decision-making in these institutions is controlled by the western industrial powers. The US has an effective right of veto over key IMF and World Bank decisions.
Q.6. Imagine that you are an indentured Indian labourer in the Caribbean. Drawing from the details in this chapter, write a letter to your family describing your life and feelings.
Ans. Self-explanatory Note : Students can refer Q.No. 4 LAQ and 5 LAQ (Long Answer Type Questions.)
Q.7. Explain the three types of movements or flows within the international economic exchange. Find one example of each type of flow which involved India and Indians, and write a short account of it. [CBSE 2008, Sept. 2011]
Or
Explain the three types of flows within an international economic exchange by giving anyone example each. [CBSE Sept. 2010]
Ans. Refer Q.No. 9, Short Answer Type Questions
Q.8. Explain the cause of the Great Depression.
Ans. Refer Q.No. 15, Long Answer Type Questions.
Q.9. (i) Explain what referred to as the G-77 countries.
(ii) In what ways can G-77 be seen as a reaction to the activities of the Bretton Woods Twins ?
Ans.
(i) Refer Q.No. 52, Very Short Answer Type Questions
(ii) By establishing G-77, they could.
- Get real control over their natural resources.
- More assistance in their development.
- Fairer prices for raw materials.
- Better access for their manufactured goods.