Chapter 2-State of the economy Flashcards
What were the staple industries?
Textiled, steel, coal, shipbuilding
What percentage of British exports were staples in 1913?
60%
Where did GB rank globally in staples?
GB were 1st but there were fears of competition from Germany and America.
What percentage of world shipping did Britain own before 1914?
50%
Why could Britain be optimistic about progress in staples, even if other nations were making faster progress.
They had rising output.
What made new industries different from traditional industries?
They were based on new technologies.
What were the three main new industries?
Electronic engineering, chemicals, motor vehicles
What percentage of Britain’s labour force were involved in motor vehicles?
6.6% of labourers.
What was notable about the growth of new industries compared to the rest of the economy?
They had a faster growth rate of 3.4% then the 2% of the economy.
Which countries were ahead of Britain in chemical and electrical industries?
USA and Germany.
