Economic History of the UK

What was the economic position of the UK at the beginning of the 1950s?

• Very strong

• Weak

• Average

• Declining

By the 1970s, what was the UK struggling with in terms of its economy?

• Keeping up with other countries

• Maintaining a strong military

• Increasing its population

• Expanding its territory

What made the 1970s a difficult decade for many people in the UK?

• Two main problems that hit the UK economy

• A major war

• A natural disaster

• Political instability

Why did the UK's share of world trade quickly decline in the 1950s?

• The UK stopped trading with the Commonwealth.

• UK companies were affected by the rapid process of decolonisation.

• The UK focused on developing its own industries.

• The UK increased its trade with neighboring countries.

What did most UK companies expect to continue making their money from?

• The European Union

• The British Empire and the Commonwealth

• The United States

• The United Nations

What was one of the effects of decolonisation on UK industries?

• They started trading more with the UK.

• They began to develop their own industries.

• They relied more on the British Empire.

• They stopped trading altogether.

What was the UK's share of world trade in 1950?

• 25.5%

• 16.5%

• 10.8%

• 30.0%

By how much did the UK's share of world trade decrease from 1950 to 1960?

• 9.0%

• 8.0%

• 10.8%

• 5.5%

What was the UK's share of world trade in 1970?

• 25.5%

• 16.5%

• 10.8%

• 5.0%

What is the trend in the UK's share of world trade from 1950 to 1970?

• Increasing

• Decreasing

• Stable

• Fluctuating