06-14 economy

Question 1

what percent of exports came from staples in 1913?

Answer 1

60%

Question 2

britian emerged as key shipbuilding nation in 1870 until ww1, by 1914 what percent of worlds shipping did UK own?

Answer 2

50%

Question 3

despite us and german competition, UK was…

Answer 3

increasing output of coal and steel

Question 4

why was Usa and GER comp not concerning ?

Answer 4

not being overtaken by country of similiar size and access to raw materials like France

Question 5

coal industry was still profitable 1914 with output of? output in 1870?

Answer 5

1914 - 287 million
1870 - 100 million

Question 6

cotton maintained strong trade and accounted for a … of exports 1914?

Answer 6

1/4

Question 7

new industries on new technology, expanding faster than economy of a whole with growth rate of … annually?

Answer 7

3.8%

Question 8

Agri employed fell from 2 million to 1.4 million because…

Answer 8

mechanisation and foreign imports

Question 9

what made farmers in 1914 increasingly want to switch to dairy and beef rather than wheat?

Answer 9

competition from abroad, long period of agri depression late 19th century

Question 10

world leading trade nation meaning in 1914 ….% of goods and services made in UK sold abroad

Answer 10

30%

Question 11

Percent of world trade in 1870? 1914?

Answer 11

40% down to 25%

Question 12

invisibles vital why?

Answer 12

vast profits helping favourable trade balance at a time of increasing imports

Question 13

reliability of bank of england encouraged investment and by 1913 what percent of national wealth invested abroad ?

Answer 13

32%

Question 14

what increased alot 1906-1914

Answer 14

investments abroad

Question 15

1870-1914 was the ….

Answer 15

late victorian recession

Question 16

what was GB overtaken in by GER and USA?

Answer 16

iron and coal and higher industrial growth rates

share of UK world trade fell

Question 17

former workshop of the world was now..

Answer 17

importing more leading to a trade gap

Question 18

late victorian recession made many question

Answer 18

education, free trade, failure of industry to adapt to new tech and ways of working

Question 19

GB invested few resources into new methods of production for its staple goods. what did GER and USA do

Answer 19

pioneered more efficient ways of doing it and british iron makers, for example, refused to adopt them

Question 20

why lack of innovation in staples

Answer 20

industries so established - change = expensive.

Question 21

what percent of coal mechanically cut in 1914 for UK? 1900 in USA?

what did this inefficient mean?

Answer 21

8% UK 1914

25% USA 1900

UK overtaken by Us And Germany by 1900 in steel and coal.

Question 22

output in coal rose from … in 1870 to … in 1914 but what decreased and by how much?

Answer 22

100 million tonnes to 287 million tonnes.

productivity decreased 20% 1880-1914

Question 23

what did firms car industry fail to do in Uk

Answer 23

Adopt the mass production seen in USA

Question 24

lack of progress in new industries. how much bigger was Germanys chemical industry than UK’s?

what percent of dyes imported in 1913?

Answer 24

Germany and USA took the lead on these, GER chemical industry 2x UK’s and 1913 90% dyes in Uk = imported

Question 25

what other new industry was slow to develop in Uk with many what being subsidiaries

Answer 25

electrics with many of the companies being subsidiaries of GER or USA companies

Question 26

what type of economy did Uk have?

Answer 26

low wage economy = domestic market and demand limited us has high wage which did opposite

Question 27

why people challenge free trade

Answer 27

competiton UK facing in world trade, growth of imports, USA and Ger had tariffs and UK couldn’t bargain with other countries tariffs

Question 28

education concerns? 1908 science applied UK vs Chemical GER? average number of graduate engineers UK vs GER?

Answer 28

UK workers not gaining sufficient skills. UK markedly behind Germany in science teaching, 1908 fewer than 300 science applied in whole of UK whereas Germany doing 400 chemical grads a year. 1000 avg grad engineers GER whereas 400 in UK

Question 29

more business were invested into research and development but…

Answer 29

US and GER were clearly ahead

Question 30

only about … of wheat sold in Britain was from british farms?

Answer 30

1/4

Question 31

positives for agri?

Answer 31

cheaper imports meant cheaper foodstuff for livestock farmers home demand for milk and meat remain strong

Question 32

headlines of the 6 key areas of concern 06-14 economy?!

Answer 32

-lack of research+investment new techs -lack of progress new industry -low wage economy -issue free trade -shortcomings education -problems in agri