Social Studies VSQ (2 Marks)

The impact of the Great Depression of 1929-1934 on the world's economy was :
i. There was deterioration of the economic conditions of the capitalists.
ii. There had been great fall in the industrial production as the demand for goods of all types also fell.
iii. Unemployment soared very high.
iv. There was a great fall in the living standard of the people.
v. Agricultural prices fell disastrously.

The following were the effects of abolishing the Com Laws in England :
i. After the Corn Laws were scrapped, food could be imported into Britain more cheaply than it could be produced within the country.
ii. British agriculture was unable to compete with imports.
iii. Vast areas of land were now left uncultivated and thousands of men and women were thrown out of work.
iv. Peasants flocked to the cities or migrated overs.