trade

Question 1

How far do you agree that the abolition of the slave trade in 1807 had the most significant impact in changing the pattern of trade in the years 1763-1914? - argument in favour of the statement

Answer 1

• Impact on the British economy
• Impact on the global economy
• A significant humanitarian victory

Question 2

Impact on the British economy

Answer 2

The abolition of the slave trade had a significant impact on the British economy as it forced the country to find alternative sources of labour and raw materials

This led to a shift towards new markets and an increased focus on industrialisation

Question 3

Impact on the global economy

Answer 3

The end of the slave trade also had a profound impact on the global economy by disrupting the triangular trade system between Europe, Africa, and the Americas

This led to new patterns of trade and investment, particularly in Africa

Question 4

A significant humanitarian victory

Answer 4

The abolition of the slave trade was a significant humanitarian victory, which increased public awareness of the evils of slavery and contributed to the wider movement towards the abolition of slavery itself

Question 5

How far do you agree that the abolition of the slave trade in 1807 had the most significant impact in changing the pattern of trade in the years 1763-1914? - argument challenging the statement

Answer 5

• The abolition of the slave trade was just one of many factors that contributed to changes in the pattern of trade during this period
• The impact of the abolition of the slave trade was limited in some regions
• The abolition of the slave trade did not necessarily lead to a complete end of the exploitation of labour

Question 6

The abolition of the slave trade was just one of many factors that contributed to changes in the pattern of trade during this period

Answer 6

The abolition of the slave trade was just one of many factors that contributed to changes in the pattern of trade during this period

Other factors, such as technological innovations, the growth of global capitalism, and changing political relationships, also played significant roles

Question 7

The impact of the abolition of the slave trade was limited in some regions

Answer 7

The impact of the abolition of the slave trade was limited in some regions, such as Latin America, where slavery continued well into the 19th century

This suggests that the end of the slave trade was not the most significant factor in shaping trade patterns in these areas.

Question 8

The abolition of the slave trade did not necessarily lead to a complete end of the exploitation of labour

Answer 8

The abolition of the slave trade did not necessarily lead to a complete end of the exploitation of labour

Instead, it led to the emergence of new forms of exploitation, such as indentured labour and wage labour, which had their own impacts on trade and economic development

Question 9

How far do you agree that the abolition of the slave trade in 1807 had the most significant impact in changing the pattern of trade in the years 1763-1914? - Conclusion

Answer 9

Overall, while the abolition of the slave trade was undoubtedly an important factor in changing trade patterns during this period, it is difficult to say whether it had the most significant impact

Many other factors played important roles in shaping global trade, and the abolition of the slave trade was just one part of a complex process of economic and social change

Question 10

What were the Navigation Acts?

Answer 10

The Navigation Acts were a series of laws that restricted trade in the British Empire to British ships and ports

Question 11

When were the Navigation Acts repealed?

Answer 11

1849

Question 12

What did the repeal of the Navigation Acts in 1849 have a significant impact on?

Answer 12

The repeal of the Navigation Acts in 1849 had significant impacts on the pattern of trade

Question 13

What were the significant impacts that the 1849 repeal of the Navigation Acts had on the pattern of trade?

Answer 13

• Increased competition
• Expanded trade
• Improved efficiency
• Encouraged innovation
• Shift in focus

Question 14

Increased competition

Answer 14

Repealing the Navigation Acts opened up British trade to competition from other countries, particularly the United States, which became a major trading partner

Question 15

Expanded trade

Answer 15

The repeal of the Navigation Acts allowed British merchants to trade more freely with other countries, increasing the volume and variety of goods that were traded

Question 16

Improved efficiency

Answer 16

By allowing merchants to use the most efficient routes and methods of transport, the repeal of the Navigation Acts helped to reduce costs and improve productivity

Question 17

Encouraged innovation

Answer 17

The repeal of the Navigation Acts encouraged innovation and investment in new technologies, such as steamships and railways, which further increased efficiency and expanded trade

Question 18

Shift in focus

Answer 18

The repeal of the Navigation Acts marked a shift in focus away from mercantilism and towards free trade, which became the dominant economic policy in Britain in the 19th century

Question 19

Overall judgement regarding the significance of the Navigation Acts

Answer 19

Overall, the repeal of the Navigation Acts had a significant impact on the pattern of trade in the years 1763-1914, contributing to the growth and development of British trade and the expansion of the global economy

Question 20

Who is most commonly associated with the idea of free trade?

Answer 20

Adam Smith - a Scottish economist who lived in the 18th century

Question 21

What is the name of Adam Smith’s influential book?

Answer 21

“The Wealth of Nations”

Question 22

What did “The Wealth of Nations” argue?

Answer 22

That when countries are allowed to freely trade with each other without government interference, it benefits all parties involved and leads to greater prosperity

Question 23

How did Adam Smith make the most significant contribution to British trade?

Answer 23

Adam Smith made a significant contribution to British trade by advocating for free trade policies and promoting the concept of the invisible hand, which argued that market forces and competition should guide economic decisions rather than government intervention

His ideas helped to shape economic policy in Britain and other countries, leading to greater trade liberalisation and increased prosperity

Question 24

What is the Invisible Hand?

Answer 24

The term “invisible hand” first appeared in Adam Smith’s famous work, The Wealth of Nations, to describe how free markets can incentivise individuals, acting in their own self-interest, to produce what is societally necessary