fcs- britain transformed

Question 1

First Past the Post (FPTP)

Answer 1

The name of the UK voting system

Used to elect Members of Parliament (MPs) to the House of Commons

Question 2

Constituencies

Answer 2

The UK is currently divided into 650 areas of constituencies

The candidate who receives the most votes in the area is the first past the post and gets a seat in parliament

Question 3

Majority Government

Answer 3

If a party wins over half the seats in an election (currently 325), they can form a minority government

Question 4

Passing Laws in a Majority Government

Answer 4

Having a majority of politicians in parliament makes it easier to pass laws they want

The bigger the majority, the easier it is to pass laws

Question 5

Coalition

Answer 5

If no party wins a majority, the biggest party may instead form a coalition

They team up with another party to gain a majority, but must find ways to work together

Question 6

Coalitions- National Government

Answer 6

During times of crisis e.g. World War II, parties form a National Coalition made up of multiple parties to govern the country together

Question 7

Minority Government

Answer 7

Sometimes when no party wins a majority, the biggest party decides to govern with a minority

They govern with a minority of politicians, and instead rely on other MPs to vote for their laws because they like them

Question 8

Weak government

Answer 8

It is very difficult to govern effectively or for long with a minority government

Question 9

Inflation

Answer 9

The general level of prices is going up

More money is needed to pay for goods (e.g. bread) and services (e.g. a haircut)

Question 10

Economy

Answer 10

A small amount of inflation can be a good thing - it shows a country’s economy is growing

Too much is a bad thing as people lose trust in the value of money or strike for more pay

Question 11

Unemployment Level

Answer 11

The amount of people actively seeking work who cannot find any

High unemployment levels signals a failing economy

Question 12

Unemployment Level- Relevant Context

Answer 12

Britain saw high unemployment during the Great Depression - 2.5m by 1931

After WW2, all main political parties committed to achieving full employment

Question 13

Currency

Answer 13

The British currency is the pound or sterling

Governments want to ensure their economy is doing well so people buy and trade with their currency

Question 14

Currency Decline

Answer 14

Throughout our course, the pound will decline in value.

Governments were forced to de-value it: this made it worth less against other currencies like the dollar, but meant people who buy cheaper British goods

Question 15

Trade Union

Answer 15

An organisation made up of workers from a certain industry or business (e.g. teachers may join a Teacher’s Trade Union)

They fight for workers’ rights and pay

Question 16

Trade Union- Course Context

Answer 16

Trade unions typically are closely linked with the Labour Party, which was set up to represent the working class

Question 17

Strike

Answer 17

A refusal to work organised by a trade union as a form of protest, typically to gain better pay or working conditions

Question 18

Strikes- Economy

Answer 18

Strikes are damaging to an economy. Working days are lost and important products are not produced and services not provided

Striking was widespread in Britain in the late 1960s and 1970s and drastically weakened the power of government

Question 19

WW1s loss of export markets

Answer 19

40% of Britain’s merchant shipping goods were sunk by German u-boats and other countries began to take British export markets

Proportion of Britain’s wealth from exports fell from ⅓ in 1914 to ⅕ in 1918

Question 20

WW1s Loss of life

Answer 20

750,000 British men died in WW1

Question 21

WW1s War Debt

Answer 21

Britain built up a war debt of £3.25 billion

Question 22

Speculative Boom

Answer 22

People used their savings from the war to invest in:

Industries: The amount of shares bought increased to £384m worth by 1920

Luxury Goods: Items rationed during the war such as coffee, cigarettes and clothes

Question 23

What caused the End of Speculative Boom

Answer 23

Industries couldn’t keep up with demand and the boom came to an end

Question 24

The recession’s causes: Long-term underinvestment

Answer 24

Traditional Industries had not received enough money. Their machinery and production techniques were out of date.

Question 25

Loss of export trade

Answer 25

Other countries stepped into British markets.
→Japan took British textile markets in India and South-East Asia.

Question 26

1920-21 Poor industrial relations

Answer 26

DLG reduced workers’ hours in 1919 to prevent a strike. They got paid the same to produce less.

Question 27

Unemployment in 1920-21

Answer 27

Rose to 12%

Question 28

1920-21 Regional Divide

Answer 28

The gap between the heavy industries in the North and light industries in the South increased

Question 29

1920-21 Retrenchment

Answer 29

The Liberals introduced the Geddes Axe (spending cuts of £87m)

Question 30

1920-21 Politics

Answer 30

David LLoyd George and his party lost popularity

Question 31

Impact of the Gold Standard on the pound

Answer 31

The pound was overvalued by 10% according to an economist called Keynes

Question 32

Impact of the Gold Standard on Exports

Answer 32

Exports became overpriced and uncompetitive

Question 33

Impact of the Gold Standard on Traditional Industries

Answer 33

Traditional industries were hit the hardest

Question 34

Impact of the Gold Standard on Interest Rates

Answer 34

Interest rates rose

Question 35

Impact of the Great Depression on Global Trade

Answer 35

Contracted by 66%

Question 36

Impact of the Great Depression on British Economy

Answer 36

Shrunk by 5% in 1931

Question 37

Impact of the Great Depression on British Exports

Answer 37

Reduced by 50%

Question 38

Impact of the Great Depression on Unemployment

Answer 38

Rose to 2.5m (20% of insured workforce) by 1930

Question 39

Economic condition 1932-37

Answer 39

• Industrial production rose by 46%
• Exports increased by 28%
• Unemployment fell from 17% to 8.5%

Question 40

Economic Growth in late 1930s

Answer 40

Averaged 4% a year between 1934 and 1937

Question 41

Regional recovery late 30s

Answer 41

Recovery was regional. Traditional industries did not recover as much as the light industries.

Question 42

Impact of the national government coming off Gold Standard 1931

Answer 42

Helped Britain recover faster than other countries

Question 43

The Special Areas Act 1934

Answer 43

Targeted areas of the country in need of help

Question 43

the National Governments Public spending cuts

Answer 43

Cut public sector workers pay by 10% and reduced unemployment assistance

Question 44

The national government’s Cut interest rates

Answer 44

This encouraged people to borrow and spend money → created more jobs.

Question 45

Recession

Answer 45

Negative growth in the economy

Question 46

Speculative boom

Answer 46

Caused by people investing heavily in businesses that they gamble will do well in the future.

Question 47

Under investment

Answer 47

When not enough money is put into an industry in order to help it grow.

Question 48

Retrenchment

Answer 48

The reduction of spending in a period of economic difficulty

Question 49

Light manufacturing

Answer 49

typically produces goods targeted at the end consumer, such as clothes, shoes, toys, and electronics

Question 50

Heavy manufacturing

Answer 50

on the other hand, focuses on producing goods that are used in producing other products, such as raw materials, machinery, and equipment

Question 51

Conservatism

Answer 51

Commitment to traditional values and ideas. Opposed to change.

Question 52

Sympathy Striking

Answer 52

Where workers go on strike in support of others already taking industrial action

Question 53

Mass Picketing

Answer 53

Protests outside places were strikes are taking place, designed to prevent non-striking employees from getting into work

Question 54

In the late 1920s, Global Trade…

Answer 54

Contracted (Decrease in size) by 66%

Question 55

In the late 1920s, British Economy…

Answer 55

Shrunk by 5% in 1931

Question 56

In the late 1920s, British Exports…

Answer 56

Reduced by 50%

Question 57

In the late 1920s, Unemployment…

Answer 57

Rose to 2.5m (20% of insured workforce) by 1930

Question 58

fiscal conservatism

Answer 58

Limited government involvement in the economy in the 1930s → cuts in public sector pay and unemployment benefits

Question 59

a managed economy

Answer 59

An economy which is heavily regulated and planned by the government = lots of state intervention.

Question 60

What measures were put in place to manage the economy in WW2?

Answer 60

Creation of government ministries → food, aircraft production etc
Increased military expenditure and production

Question 61

Nationalisation

Answer 61

Industries moving from private ownership to state control

Question 62

Balance of Payments Deficit

Answer 62

When a country is importing more than it exports (i.e. spending more than it makes)

Question 63

Austerity

Answer 63

The period of ongoing rationing and shortages after WW2

Question 64

Inflation

Answer 64

Prices go up. Therefore, your money is worth less

Question 65

Devaluation

Answer 65

Reducing a currencies’ value. Exports go up as other currencies are worth more against the pound, but prices go up within the country

Question 66

Mixed Economy

Answer 66

An economy with a mixture of nationalised and privatised industries

Question 67

Keynesianism

Answer 67

The economic approach adopted after WW2. The government invests money in the economy to boost demand.

Question 68

Retrenchment

Answer 68

When a government introduces spending cuts e.g. The Geddes Axe 1921