Describe the social and economic effects of the World War on England and USA. -SST 10th

Describe the social and economic effects of the World War on England and USA. -SST 10th
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Answer :

Social Effects:  (i) Most of the killed and maimed people were of the working age and this affected the work force in England.  (ii) Household income declined and women stepped in to take up jobs.  (iii) Role and position of women changed forever in England.  Economic Effects:  (i) Economic links between some of the major economic powers of the world were snapped.  (ii) England borrowed large sums of money from the US Banks.  (iii) USA emerged as an international creditor.  (iv) USA owned more assets in foreign countries than foreign countries owned in the USA.
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