economy 1886-1914

Question 1

problems in economy 1886 to 1914

Answer 1

-falling profits
-small firms
-little investment
-stagnation

Question 2

other countries 1886-1914

Answer 2

-protective tariffs from 1860s
-british goods more expensive so their demand fell
-american and German economies more productive (economy doubled in this period)
-German science graduates earning 6x more than British

Question 3

was there a decline in British economy from 1886

Answer 3

-slower growth but no real harsh decline
-production in some industries was still growing
-still a leading nation in 1886

Question 4

shift in economy 1886-1914

Answer 4

-move from traditional industries to industrial and commercial
-the rise in invisible exports offset deficit of visible trade
-balance of payments remained positive

Question 5

living standards 1886-1914

Answer 5

-real wages rose
-food prices fell
-better living standards for this in employment

Question 6

economy 1900-1913

Answer 6

-GDP growing at rate of 1.7%
-staple industries continued to rise (coal 223m to 287m)
-60% of merchant shipbuilding in britian
-foreign investment 50m (1901) to 200m

Question 7

reasons for problems in British industries

Answer 7

-first industrialised nation
-decline in demand abroad
-low wages
-abundance of supply no need for machinery
-family firms kept profits did not use for long term reinvestment

Question 8

agriculture 1886-1914

Answer 8

-declined sharply
-arable land turned to pasture land for cereals
-british meet higher quality
-demand for dairy prod rose
-govenremnt supported dairy and market gardening farming

Question 9

new industries 1886-1914

Answer 9

-chemicals: soap
-motor car: high quality, rolls royce
-bicycles: Humber and Raleigh
-electrical: rise of power stations, trams