1970-74 Key Terms

Question 1

What was the ‘New Right’? What did it go against?

Answer 1

Heath’s new Agenda, going against the post-war consensus

Question 2

What is a One-Nation Conservative?

Answer 2

Someone wanting preservation of established industries and social and economic policies benefitting individuals

Question 3

What is the free market?

Answer 3

Low government regulation of economic activity

Question 4

What are ‘lame duck’ industries?

Answer 4

Unprofitable industries only supported by government funds

Question 5

What does PSBR stand for?

Answer 5

Public Sector Borrowing Requirements

Question 6

What are Public Sector Borrowing Requirements?

Answer 6

Amount the govt. borrows to make up the difference between possible funds raised and spending intentions

Question 7

What does the Trade Union Congress do?

Answer 7

Represent Trade Unions

Question 8

What is the Department of Trade and Industry?

Answer 8

People who represent Britain’s leading manufacturers

Question 9

What is a shop-steward?

Answer 9

A representative of trade unions

Question 10

What is Coke? (not the drink or drug)

Answer 10

A type of highly flammable coal used in smelting

Question 11

What is NUM?

Answer 11

National Union of Miners

Question 12

What is OPEC?

Answer 12

Organisation of Petroleum Exporting Countries