Q1
What drove global trade expansion in the 19th century?
AIndustrialised nations seeking raw materials and markets
BIsolationist policies
CReduced trade everywhere
DNo specific driving factor
CBSEClass 10 (CBSE)Social ScienceCh 3 · Topic 2
The World Economy in the 19th-20th Century
The world economy in the 19th and 20th centuries was shaped by industrialisation, colonial trade, and major events like the World Wars and t
Core concept
The 19th century saw increased global trade and investment, as industrialised nations sought raw materials and markets, often through colonial expansion.
How it works
The Great Depression (starting in 1929) caused severe global economic hardship, with widespread unemployment, business failures, and reduced trade worldwide.
Why it matters
World Wars I and II significantly disrupted global trade and economies, though they also led to new economic arrangements and institutions after 1945, like the IMF and World Bank.
Key detail
These events shaped modern global economic structures, highlighting the interconnectedness of national economies and the impact of major crises on global trade and development.
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• The 19th century saw increased global trade via colonial expansion.
• Industrialised nations sought raw materials and markets.
• The Great Depression began in 1929.
• It caused global unemployment and business failures.
• World Wars I and II disrupted global trade.
• After 1945, new institutions like the IMF and World Bank formed.
• These events shaped modern global economic structures.
• They show how interconnected national economies are.