3.

Making up of global world

DEFINE

1) Silk route- The route taken by traders to carry silk cargoes from china to the west,
which affected cultures of china, central Asia and the west .
2) EL Dorado- The fabled city of gold
3) Corn lows- British lows which imposed restrictions on the import of corn
4) Canal colonies – The canal colonies , as the areas irrigated by the new canals were
called , were settled by peasants from other parts of Punjab.
5) Indentured labours – A bounded labourer under contract to work for an employer for
specific amount of time , to pay off his passage to a new country or home
6) Rinderpest – A fast-spreading disease of cattle plague or rinderpest had a terrifying
impact on peoples livelihood and the local economy.
7) Shikarapuri shariffs/Nattukottai chetiyaras -they were amongst the many grou ps of
bankers and traders who financed export agriculture incentral and south east asia ,using
either there own funds or those borrowed from European banks.
8) Trade surplus – the value of exports of ones country is higher than the value of import .
9) Henry ford- Adapted the assembly line of a Chicago slaughterhouse to his new car
plant in deroite
10) Assembly line production – a series of workers and machines in a factory by
which a succession of identical items is progressively assembled
11) Great depression: – A drastic decline in the world economy resulting in mass
unemployment and widespread poverty that lasted from 1929 until 19391
12) Brettan wood institutions- The Bretton Woods Agreement was finalised in
July 1944 at Bretton Woods in New Hampshire, USA. It established the
International Monetary Fund and the World Bank to preserve global economic stability
and full employment in the industrial world.
13) IMF-: It is also termed as International Monetary Fund, the Bretton Woods
institution. It was established to deal with external surpluses and deficits of its member
nations
14) World bank :- The World Bank is an international financial institution that was
established in 1944 at the Bretton Woods Conference
15) G77 :- G-77 or Group of 77 refers to the seventy-seven developing countries that
did not benefit from the fast growth western economies experienced in 1950s and
1960s.
 16) NIEO- They meant a system that would give them real control over their natural
resources, more development assistance , fairer prices for row materials access for their
manufactured goods in developed countries markets .

17) Fixed exchange rate – The rates which are officially fixed by the government and do not
vary with change in demand and supply of foreign currency .

18) Flexiable / Floating rate – These rates fluctuate depending on demand and supply of
foreign currencies in foreign exchanges markets , in principle without interference by
government

20) Rastafarianism- The protest religion of rastra farianism is also said to reflect social and
cultural links with Indian migrants to the caribbean
1.

(3M)

1) How is it created difference between life and death ? (food travels)

2) Disease helped in concvest . why people started to migrate from Europe ?

3)(corn low) what is the need of corn low , why corn lows were abolished what factors shaped
the world economy ?

4)What was the role of technology in economic development ? Explain

5) (Africa and renderprest) methods used by employers to recuruit and retain labours? What
was the impact on labours ?

6) (Indentured labour) from where did they come and where did they go and how?

7) Reasons for the shift in Indian trade ? Support the statement ?

8) How did the trade surplus with India helped Britain ?

9) (War time transformation ) how it helped in the growth of USA?

10)Wars? Unemployment in Europe ? development in India and Japan ? explain

11) How was the mass production achieved ? fordiest made , hendrifost made and mass
production?

12) About great depression ? impact on India reasons for great depression ?
13)Post war settlement and bretan wood institutions? Explain

14)Decolonisation and Independence “ problems of developing counties

15) Need to shift from fixed to floting exchange rate and why emencies began to shift towards
African countries?