Social Studies VSQ (2 Marks)

The impacts of the First World War on the British economy were as follows :
i. After the war, Britain found it difficult to recapture its earlier position of dominance in the colonial market.
ii. To finance war expenditures, Britain had borrowed from the U.S. At the end of the war, Britain was burdened with huge external debts.
iii. War transformed the United States from international debtor to international creditor. The United States and its citizens owned overseas assets.
iv. The war had led to a huge increase in demand, production and employment.
v. End of War boom led to huge job losses because the governments reduced War expenditure. In Britain one out of five workers was jobless.

a. The trade route that linked China to the western world and other countries is called Silk Route.
b. The Silk Routes existed before the Christian Era.
c. Chinese potteries travelled from China to other countries through the Silk Route.
d. Gold and silver travelled from Europe to Asia through this route.
e. Christianity, Islam and Buddhism travelled to different parts of the world through the Silk Route.