HistoryThe ____ world war had a massive impact on the economic conditions.

The ____ world war had a massive impact on the economic conditions.


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    Solution:

    The first world war had a massive impact on the economic conditions.
    1)      Weak British economy- the economic recovery period after the war proved to be difficult as the heavy expenditure on World War I weakened the British economy.
    2)      Competition from India and Japan- While Britain had its focus on the war, industries like India and Japan got an opportunity to grow. After the war both the industries, Japan and India, provided tough competition to the industries of Britain.
    3)      External debts- Britain had borrowed liberally from the United States to finance war expenditure. So Britain was burdened with huge external debts.
    4)      End of the economic boom- the war ultimately resulted in an economic boom. But when the war boom ended, production contracted, this resulted in an increase in employment and unemployment.
    5)      Unrest in colonies- people of the British were forced to go against them by the economic hardships of the war period.
     
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