22: Economic Developments Flashcards
1
Q
Why did economic growth slow down after 1873?
A
Competition from the US and Germany
2
Q
When did the golden age of agriculture begin?
A
1853
3
Q
Why did agriculture improve?
A
Moved from arable to mixed farming
Profits from livestock
Better use of fertilisers
Better drainage thanks to government loans
4
Q
How were profits from railways reinvested?
A
Building railways in other countries
5
Q
What 2 methods improved iron output?
A
Steam hammer and hot blast
6
Q
When was the first underground line opened?
A
1863
7
Q
What percentage of worldwide cloth came from Britain?
A
2/3
8
Q
Was there really a depression at the beginning of the 1870s?
A
More of an economic decline than depression
9
Q
What caused the depression in agriculture?
A
Wet summers and poor harvests from 1873 onwards
