Revision Notes for Class 10 Social Science History Chapter 4 The Making of a Global World

We are providing Chapterwise Quick Revision Notes for Class 10 Social Science SST. CBSE Class 10 Social Science SST contains History, Geography, Civics (Political Science) and Economics.

History: India and the Contemporary World – II
Geography : Contemporary India – II
Civics (Political Science) : Democratic Politics – II
Economics : Understanding Economic Development – II

Here we have given Revision Notes for Class 10 Social Science History chapter 4 The Making of a Global World

Let’s have a look at important terms and events covered in chapter 4 The Making of a Global World.

Important Terms

Isolation: Means the state of being alone. It may imply a condition of being apart from all human beings or of being cut of f from one’s usual associates.
Decimate: To destroy a large number.
Dissent: To differ in opinion, especially from the majority.
Perishable: Liable to spoil or decay.
Indentured labour: Is an employee (indentured) within a system of unfree labour, who is bound by a contract (indenture) to work for a particular employer for a fixed period of time.
Tariff: A tax or duty to be paid on a particular class of imports or exports.
Great Depression: The economic crisis period of low business activity in the U.S. and other countries, roughly beginning with the stock-market crash in 1929 and continuing through most of the 1930s.
International Monetary Fund: The International Monetary Fund (IMF) is an international organization, created for the purpose of standardizing global financial relations and exchange rates. The IMF generally monitors the global economy, and its core goal is to economically strengthen its member countries.
World Bank: Is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
G-77: The G-77 is a loose coalition of developing nations, designed to promote its members’ collective economic interests and create an enhanced joint negotiating capacity of the United Nations.
NIEO: The New International Economic Order.
Fixed exchange rate: A type of exchange rate regime where a currency’s value is fixed and under which the government or central bank ties the official exchange rate to another country’s currency or to the price of Gold.
Floating exchange rates: a type of exchange rate regime in which a currency’s value is allowed to fluctuate in response to foreign – exchange market mechanism.
Globalisation: It is a process by which businesses or other organisations develop international influence or start operating on an international scale.

Important Dates:

1820-1914 – World trade is estimated to have multiplied by 25 to 40 times.
1885 – The European powers met in Berlin and demarcated the African continent for respective powers.
1890s – A fast spreading disease of cattle plague or rinderpest had a terrifying impact on people’s livelihoods and the local economy.
1914–1918 – World War I (Inter-war economy)
1920s – Agricultural overproduction was a major problem
1921 – The practice of indentured labour was abolished
1923 – US resumed exporting capital to the rest of the world and emerged as the largest overseas lender.
1933 – US went bankrupt and 4000 banks were closed.
1939 – 1945 – World War II
1944 – United Nations Monetary and Financial Conference at Breton Woods in New Hampshire, USA.
1947 – International Monetary Fund and World Bank began their operations.
1950s – The Bretton Woods institutions began to shift their focus on.

Leave a Comment Cancel Reply

Join our Telegram channel for eBooks and PDF Download

Download Books

Leave a Comment Cancel Reply

Join our Telegram channel for eBooks and PDF Download