Economic Events

Question 1

Scramble for Africa (1870-1914)

Answer 1

Positive on the economy

resulted in a huge amount of globalization

Question 2

WW1 (1914-1918)

Answer 2

negative impact on the economy

instead of Europe cooperating they are fighting

production is destroyed and countries go in to debt

Question 3

The Roaring 20s (1918-1929)

Answer 3

Positive economy

Survivors of the war lived in a time of peace and prosperity

no rule capitalism

production and demand is high

Question 4

Stock market crash (1929)

Answer 4

negative economy

stock market was doing extremely well so people would take out loans to invest (aka buying on the margin)

stock market began to dip causing people to panic sell which made the stock market crash

caused the dirty thirties

Question 5

The great depression - the dirty thirties (1929-1939)

Answer 5

negative economy

people went into debt because of the stock market crash

business went out of business because people had no money to spend

banks went broke because no one had money to collect

less international trade

Question 6

WW2 (1939-1945)

Answer 6

positive

the whole world joins together to fight

high employment since they needed people to produce supplies for the war

whole world is unified

Question 7

Bretton Woods agreement

Answer 7

44 countries banded together to trade among one another and prevent another global conflict

Question 8

Kyoto Protocol

Answer 8

an international treaty to fight and reduce greenhouse gas emissions

did not work since every country cannot meet the same needs
ex. Canada can’t stop using fossil fuels because we have harsh winters

Question 9

The Paris Agreement

Answer 9

A climate change treaty that uses individual NDC’s to reduce and combat greenhouse gas emissions based on the countries needs