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A level history > Trade and Commerce > Flashcards

Trade and Commerce Flashcards

(77 cards)

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1
Q

What was the primary economic motive behind British imperial expansion according to Jan Morris (1968)?

A

The impulse to be rich.

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2
Q

How did J.A. Hobson describe imperialism in his 1902 work?

A

As an economic, political, and cultural practice common to capitalist nations.

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3
Q

What role did private companies play in the British Empire before 1800, according to Martin Kitchen (1996)?

A

The Empire was largely exploited by individual adventurers and commercial companies.

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4
Q

How did the East India Company maintain loyalty among Indian sepoys?

A

By paying soldiers on time and more reliably than local leaders.

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5
Q

What was the significance of the Suez Canal for British trade?

A

It allowed faster shipping between Britain and India, enhancing trade efficiency.

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6
Q

What were clipper ships used for in the 19th century? | Transporting low-volume

A

high-priced goods like tea

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7
Q

How did steamships impact trade after the opening of the Suez Canal? |

A

They increased cargo capacity and became more popular for trade routes.

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8
Q

What percentage of British investment in railways went to regions like India

A

according to Stone (1999)? | 71%

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9
Q

What was the purpose of building canals and rivers in colonies like India and Canada?

A

To avoid dangerous waterways and improve transportation.

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10
Q

How did the Royal Navy support British trade routes?

A

By patrolling key areas: the blue squadron in the Indian Ocean and the red squadron in the Caribbean and Atlantic.

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11
Q

Front

A

Back

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12
Q

What was the value of British exports to the empire in 1913?

A

Over £300 million annually

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13
Q

How much of British cotton was exported to the empire?

A

About 50% by the early 20th century

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14
Q

By 1900 what percentage of British investment was in the empire?

A

40%

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15
Q

How did the empire benefit British industries?

A

Provided raw materials and captive markets

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16
Q

What role did the empire play in food supply to Britain?

A

Supplying wheat

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17
Q

What was the impact of empire on British shipping?

A

Over 80% of Britain’s shipping trade was with the empire by 1914

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18
Q

What was the estimated cost of maintaining the British Empire in 1900?

A

Around £40 million annually

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19
Q

How did colonial wars affect British finances?

A

Increased military spending significantly during conflicts like the Boer War

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20
Q

What was a major social cost of empire in Britain?

A

Increased racial tensions and immigration concerns

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21
Q

What economic criticism was made against empire?

A

That it diverted investment from British domestic industries

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22
Q

What debate existed over “free trade” vs. “imperial preference”?

A

Imperial preference favored tariffs to protect empire trade

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23
Q

When was the Imperial Preference system first introduced?

A

1903 (proposed)

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24
Q

How much trade did imperial preference increase between Britain and the Dominions?

A

By the mid-1930s

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25
What was the “drain theory”?
That wealth was extracted from colonies to enrich Britain at colonies' expense
26
Who was a major critic of empire’s economic impact?
Indian nationalists like Dadabhai Naoroji
27
What was the British government’s stance on trade in the empire?
Generally promoted free trade but increasingly accepted imperial preference by 1930s
28
How did the empire affect British unemployment?
Empire trade provided jobs
29
What role did the Empire Marketing Board play?
Founded in 1926 to promote empire goods in Britain and abroad
30
When was the British Empire at its largest territorial extent?
1920s-1930s
31
How did global events like the Great Depression affect empire trade?
Led to increased tariffs and protectionist policies
32
What was the cost of the Boer War (1899-1902) to Britain?
About £200 million and over 22
33
What percentage of British exports were sold to the empire by 1914?
About 25%
34
How did empire trade affect British industry’s reliance on colonies?
Increased dependency on colonial raw materials like cotton
35
What role did British banks play in empire trade?
Financed colonial projects and trade ventures extensively
36
Front
Back
37
What was Britain's national debt after WWI?
Increased from £650 million in 1914 to £7.7 billion by 1919
38
How much did Britain spend on WWI?
Approximately £8 billion
39
What was the impact of WWI on British industries?
Many industries shifted to war production; post-war faced decline and restructuring
40
How did WWI affect the British Empire’s economy?
Colonies provided resources and manpower but war strained imperial finances
41
What percentage of British imports came from the empire by 1918?
About 40%
42
What was the purpose of the Imperial Economic Conference 1923?
To promote intra-empire trade and economic cooperation
43
When was the Imperial Preference system formally adopted?
1932 (Ottawa Agreements)
44
How did the Great Depression affect British empire trade?
Severe decline in trade; tariffs and imperial preference increased to protect markets
45
What was the value of British exports to the empire in the 1930s?
Around £250 million annually
46
How did inter-war years affect British shipping?
Empire shipping declined due to global competition and economic downturns
47
What was Britain's national debt after WWII?
Reached about £22
48
How much did WWII cost Britain?
Approximately £30 billion
49
What was the impact of WWII on British industries?
Heavy wartime production; post-war shift to reconstruction and decolonization costs
50
How did WWII change Britain's global economic position?
Marked decline as US and USSR rose; Britain lost dominance in global trade
51
What role did colonies play in WWII?
Provided raw materials
52
When did India contribute significantly to WWII?
Provided over 2.5 million troops between 1939-1945
53
What was the economic impact of WWII on colonies?
Resource extraction intensified
54
What happened to British trade routes after WWII?
Many routes were disrupted or replaced by new global powers
55
How did Britain finance WWII?
Through loans (notably from the US)
56
What was the economic policy focus post-WWII?
Rebuilding economy
57
Front
Back
58
What was Britain’s national debt after WWII?
About £22
59
How much did WWII cost Britain?
Approximately £30 billion
60
What was the impact of WWII on Britain's economy?
Severe economic strain
61
How much financial aid did Britain receive from the USA after WWII?
$3.75 billion under the Marshall Plan (1948–1952)
62
What percentage of British exports went to the empire after WWII?
Around 25%
63
What was the impact of WWII on British industries?
Shifted to wartime production; post-war faced decline and need for rebuilding
64
How did WWII affect Britain’s global economic status?
Marked decline as the USA and USSR became dominant powers
65
How did the war affect the colonies economically?
Increased resource extraction but also economic hardship and rising nationalist movements
66
How many Indian troops served in WWII?
Over 2.5 million
67
What was the significance of the Lend-Lease Act during WWII?
Provided essential supplies and financial aid to Britain before US entry into the war
68
How did Britain finance WWII?
Through loans (notably from the USA)
69
What economic challenges did Britain face after WWII?
High debt
70
When was the Marshall Plan aid given to Britain?
Between 1948 and 1952
71
How did WWII influence Britain's decision on decolonization?
Economic strain accelerated the process of granting independence to colonies
72
What was the role of the empire in supplying Britain during WWII?
Provided raw materials
73
How did WWII impact Britain's trade routes?
Disruption of traditional routes and increased competition from other powers
74
What was the cost of the British Empire’s war effort in terms of manpower?
Millions of colonial troops served
75
What was the state of British manufacturing post-WWII?
Reduced capacity and need for modernization after wartime overextension
76
How did WWII change the global economic order?
Led to the rise of the USA and USSR and decline of British economic dominance
77
What financial measures did Britain implement post-war to recover?
Austerity measures

A level history (7 decks)

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