Page 52 - Sst Class - X

• The inter-war economic experience led to the Bretton Woods Conference, held in 1944, which
established the International Monetary Fund (IMF) to manage external surpluses and deficits of its

member nations and the International Bank for Reconstruction and Development, popularly known
as the World Bank, to finance post-war reconstruction.
• In the post-war era, two crucial influences shaped the global economy: 1. The emergence of the US
as the dominant economic and military power in the Western world. 2. The dominance of the Soviet
Union.

• The IMF and World Bank’s focus shifted to developing nations in the late 1950s. The G-77 then
emerged, advocating for a New International Economic Order (NIEO) to secure better control over
resources, development aid, fairer raw material prices, and improved market access.

EXERCISE
EXERCISE

Choose the correct option

1. Which country passed the “Corn Laws” to restrict the import of corn?
a. France b. Great Britain c. Spain d. U.S.A.

2. A popular form of currency for more than a millennium:
a. Sea shells b. Gold flakes c. Stone beads d. Ceramic artefacts

3. The Silk Route linked which regions with Asia?
a. Europe and Northern Africa b. Australia and North America
c. Central America and the Caribbean d. South America and Central Africa

4. An unconventional weapon used by Spanish conquerors on Natives of America:

a. Germs and Diseases b. Bows and Arrows c. Natural hazards d. Cannons
5. Which items probably originated in Asia and travelled across the world?

a. Noodles b. Potato c. Chilly d. Maize
6. What is considered a gift from American Indians to the world?

a. Silk b. Pasta c. Maize d. Spices
7. Which of the following was not a destination of Indian indentured labourers?

a. Caribbean island b. Mauritius c. Japan d. Fiji
8. Which of the following items is not of Asian Origin?

a. Noodles b. Tomatoes c. Silk textiles d. Chinese pottery
9. When did the Great Potatoes famine occur in Ireland?

a. 1840s b. 1850s c. 1870s d. 1890s

10. The primary factor behind the Great Irish Famine:
a. Crop failure b. Inflation c. Poverty d. Drought

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