Past Economy Questions
To what extent was Britain’s economic growth in the years 1851
to 1873 due to technological progress? (2018)
o A- new technological advancements, coal, mining,
iron/steel, textiles led to a rapid increase in production
across these staple industries. Britain produced 40% of
traded manufactured goods worldwide. New tech like
drainage pipes, steam powered ploughs and threshing
machines, artificial fertilisers boosted britains agricultural
production-agricultural ‘golden age’, development of iron
hulled steam ships increased demand for iron and coal. As
well as facilitating the growth of british exports worldwide-
and british steam ships were aided by opening of suez
canal in 1869 that let narrow british steam ships to exploit
the shorter journey times to India/China/Australia. Britain
could monpolise shipping routes
o A- Development of the railway network-meant that internal
trade was boosted, and new markets could open within
britain. New industry of tourism set up with the coming of
the railway networks. Improved communications,
developments in precision engineering. 1860- 26m earnt
from freight and ticket sales, by 1875 56m earnt. Lucrative
business in and of itself. Reduced cost of transporting raw
materials and finished products- meaning that agricultural
and industrial industries were boosted and increased
mobility of the workforce. Railway networks meant that the
growing population of britain (reaching 35m in 1881) made
the best of the workforce and by 1875 every major town
and port in britain was linked by a railway network.
o D- british empire was vital to economic growth- as it
provided a huge market and innumerable resources to
exploit, provided cheap raw materials and foodstuffs as
well as buying 1/3 of all of britains exports. It also meant
that britain could control major shipping routes, as it was a
major colonial power. Additionally, britains main economic
rivals- America and Prussia were side stracked by wr during
this period which halted their economic growth. Britain
enjoyed peace and stability, facilitated greated
international trade.
o D- low taxation due to fair trade encouraged businessmen
and industrialists to reinvest profits into further expansion.
Adoption of a free trade policy led to a massive increase in
, the volume of trade and stimulated further economic
growth, and by 1860 almost all trade restrcictions were
lifted. Fair weather compounded the positive effects of free
trade, and allowed the production of harvests well above
average for several years in a row. Low taxes allowed
businessmen to build their individual fortunes, and
‘Britain enjoyed economic prosperity between 1851 and 1886’
(textbook ch3)
o D- depression in industry post 1873- rising imports over
exports, and there was a reluctance to turn to technological
innovation, especially in those that were family run and
owned. Coal and textiles had always made money, and
manufactorers failed to foresee that this was likely to
change. By 1870s both Germany and the USA had stronger
home markets than the UK, and another issue was
Germanys introduction of trade tariffs in 1879, whilst
britain hung onto lassiez faire ideals. Inevitable that other
countries would industrialise, and britain had fallen behind,
with outdated machinery and reluctance to invest new
capital. This would affect britain- no longer had a monopoly
over world trade. Usa 1880 introduced tariffs. The so called
great depression wasn’t a collapse, but a slowing of growth
and falling prices. But output continued to grow, issue was
britains declining relative position, rather than absolute
economic collapse.
o D- wet summers and harsh winters signalled an end to the
agricultural golden age. Opening of wheat fields in USA and
the introduction of a railway system- meant that Britain
was competing against UA cheap corn on its market. By
1886, 2/3 of wheat were imported into britain. Prices and
profits fell for British farmers. Meat from new zealand-
introduction of refrigeration. Advances in the farm
machinery- combine harvester in the USA meant that
harvesting was revolutionised, as it carried processes
simultaneously- ideal in vast American wheat lands.
Investment in USA railways by british meant Americans
reaped the benefits. Trade deficit in visible trade. Shift
from arable to pastoral farming, long term structural
change. Agricultural decline hd a limited impact on overall
national prosperity, farminig was replaced by industry.
o A- rise in market gardening- but decreases employment in
urban workers, but helps agricultural income. Additionally,
railways were expanding, 1860- 9069 miles of track earnt
To what extent was Britain’s economic growth in the years 1851
to 1873 due to technological progress? (2018)
o A- new technological advancements, coal, mining,
iron/steel, textiles led to a rapid increase in production
across these staple industries. Britain produced 40% of
traded manufactured goods worldwide. New tech like
drainage pipes, steam powered ploughs and threshing
machines, artificial fertilisers boosted britains agricultural
production-agricultural ‘golden age’, development of iron
hulled steam ships increased demand for iron and coal. As
well as facilitating the growth of british exports worldwide-
and british steam ships were aided by opening of suez
canal in 1869 that let narrow british steam ships to exploit
the shorter journey times to India/China/Australia. Britain
could monpolise shipping routes
o A- Development of the railway network-meant that internal
trade was boosted, and new markets could open within
britain. New industry of tourism set up with the coming of
the railway networks. Improved communications,
developments in precision engineering. 1860- 26m earnt
from freight and ticket sales, by 1875 56m earnt. Lucrative
business in and of itself. Reduced cost of transporting raw
materials and finished products- meaning that agricultural
and industrial industries were boosted and increased
mobility of the workforce. Railway networks meant that the
growing population of britain (reaching 35m in 1881) made
the best of the workforce and by 1875 every major town
and port in britain was linked by a railway network.
o D- british empire was vital to economic growth- as it
provided a huge market and innumerable resources to
exploit, provided cheap raw materials and foodstuffs as
well as buying 1/3 of all of britains exports. It also meant
that britain could control major shipping routes, as it was a
major colonial power. Additionally, britains main economic
rivals- America and Prussia were side stracked by wr during
this period which halted their economic growth. Britain
enjoyed peace and stability, facilitated greated
international trade.
o D- low taxation due to fair trade encouraged businessmen
and industrialists to reinvest profits into further expansion.
Adoption of a free trade policy led to a massive increase in
, the volume of trade and stimulated further economic
growth, and by 1860 almost all trade restrcictions were
lifted. Fair weather compounded the positive effects of free
trade, and allowed the production of harvests well above
average for several years in a row. Low taxes allowed
businessmen to build their individual fortunes, and
‘Britain enjoyed economic prosperity between 1851 and 1886’
(textbook ch3)
o D- depression in industry post 1873- rising imports over
exports, and there was a reluctance to turn to technological
innovation, especially in those that were family run and
owned. Coal and textiles had always made money, and
manufactorers failed to foresee that this was likely to
change. By 1870s both Germany and the USA had stronger
home markets than the UK, and another issue was
Germanys introduction of trade tariffs in 1879, whilst
britain hung onto lassiez faire ideals. Inevitable that other
countries would industrialise, and britain had fallen behind,
with outdated machinery and reluctance to invest new
capital. This would affect britain- no longer had a monopoly
over world trade. Usa 1880 introduced tariffs. The so called
great depression wasn’t a collapse, but a slowing of growth
and falling prices. But output continued to grow, issue was
britains declining relative position, rather than absolute
economic collapse.
o D- wet summers and harsh winters signalled an end to the
agricultural golden age. Opening of wheat fields in USA and
the introduction of a railway system- meant that Britain
was competing against UA cheap corn on its market. By
1886, 2/3 of wheat were imported into britain. Prices and
profits fell for British farmers. Meat from new zealand-
introduction of refrigeration. Advances in the farm
machinery- combine harvester in the USA meant that
harvesting was revolutionised, as it carried processes
simultaneously- ideal in vast American wheat lands.
Investment in USA railways by british meant Americans
reaped the benefits. Trade deficit in visible trade. Shift
from arable to pastoral farming, long term structural
change. Agricultural decline hd a limited impact on overall
national prosperity, farminig was replaced by industry.
o A- rise in market gardening- but decreases employment in
urban workers, but helps agricultural income. Additionally,
railways were expanding, 1860- 9069 miles of track earnt
