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1G Challenge and Transformation: Britain, c1851–1964

The Great Depression, Industrial Decline and Tariff Reform

  • 3 things to know
  • Component 1

Overview

Recall questions on the late-Victorian Great Depression, outdated technology and poor investment, agricultural decline, the staple and new industries, German and American competition, invisible exports, and the tariff reform campaign against free trade.

What you need to know

Answer each one before you reveal it.

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Key term

How did foreign competition affect agricultural prices in Britain?

Key term

What are invisible exports?

Process

What did the Osborne Judgement rule, how was it reversed, and what characterised the Great Depression of 1873–1896?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What period does the Great Depression refer to in British economic history?

    Model answer

    The economic downturn affecting Britain from approximately 1873 to 1896.

  2. 2

    What were the main characteristics of the Great Depression in Britain?

    Model answer

    Falling prices, reduced profits, and slower economic growth.

  3. 3

    How did outdated technology affect British industry in this period?

    Model answer

    British firms continued using older machinery and methods while competitors adopted more efficient modern technology.

  4. 4

    Why was lack of investment a problem for British industry?

    Model answer

    Insufficient capital was directed into modernising factories and equipment, leaving British industry less competitive.

  5. 5

    How did poor management contribute to British industrial problems?

    Model answer

    British managers often lacked technical training and were slow to adopt scientific management techniques used by competitors.

  6. 6

    What was the consequence of British industry's failure to adopt new production methods?

    Model answer

    Britain fell behind competitors like Germany and the United States who embraced mass production and new technologies.

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