The Bankers of the World
Q. India was transformed from being an importer of raw materials to an exporter of finished goods in the late 19th century.
Q. How did the British manage the losses incurred due to surplus imports from different countries?
- By selling goods at higher prices when they next traded with the countries.
- By exporting a surplus amount of goods to India and importing lesser than that.
- By stopping the import of goods from those countries.
- By importing a lesser amount of goods in the following years.
Q. Impact of Globalisation was so pronounced that the action of one country impacted another country. Select the options from the following to prove this statement:
- Industries were set up in Africa by British and Africans worked there.
- Britain started selling its finished goods in India.
- India produced finest cotton but Britain regulated tax to reduce imports.
- Britain grew opium on Indian land and sold it to China in exchang tea.