Chapter - 4 The Making Of A Global World
Globalization: Integrating economy of a country with the economics of other countries under condition of free flow of trade, capital and labour.
Cowries: A Hindi work meaning sea shells. These are used in ancient world as a form of currency. El Dorado: Imaginary land of great wealth. Fabled land of gold. Entrepreneur: One who undertakes commercial enterprise with chance of profit or loss? Starts enterprise by himself/herself at his/her own risk.
Hosay: A riotous carnival in Trinidad when workers of all races and religion join to celebrate. Allies: Before the 1st world war Britain, France and Russia (later USA) formed an alliance and fought together in the 1st World War. Together they were known as the Allies. Axis powers: Germany, Italy, Austria, Turkey were known as Axis Powers during the Second World War. Fixed Exchange Rate: The rate which is officially fixed by the government and does not vary with changes in demand and supply of foreign currency. Floating Exchange Rate: These rates fluctuate depending on demand and supply of foreign currency.
Q.1.What is silk route? What role did this play in linking other countries?
Ans.Silk route refers to the route used to transport silk from China to the west. It helped in establishing contact with India, countries in the middle East as well we to Europe.
Q.2.Name the explorer who discovered the sea route to the Americas.
Ans.Christopher Columbus.
Q.3.What is corn’s law? Why was it abolished?
Ans.The ‘Corn law’ was passed by the British government to restrict the import of corn. Unhappy with the high food prices, industrialists and urban dwellers forced the government to abolish these laws.
Q.4. Why is the year 1885 significant in the history of colonization?
Ans.In 1885, big European powers met at Berlin and sitting in Europe completed the partition of African among them.
Q.5.What is Hosay carnival of Trinidad?
Ans.In Trinidad the annual Muharram procession was transformed into a riotous carnival called Hosay in which workers of all races and religions joined.
Q.6.What is referred to as Chutney music?
Ans.Chutney music, a popular musical for in Trinidad and Guyana is a creative example of cultural fusion between Caribbean and Indian.
Q.7.Why was the Bretton Woods conference held in New Hampshire in US significant?
Ans.The Bretton Woods conference was held to agree on a framework of a new economic system ensuring and preserving economic stability and full employment in the industrial world.
Q.8. What is referred to as Bretton Woods twins?
Ans. IMF (International Monetary Fund) and World Bank are often known as Bretton Woods twins.
Q.9.What is rinderpest?
Ans. Rinderpest refers to a devastating cattle disease.
