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GCSE History · key term
A period in which economic activity contracts, often bringing falling production and rising unemployment.
Used by AQA
Paper 1
Revise: Economy and SocietyDuring the recession of 1899–1902, industry struggled and foreign investment declined. Unemployment rose, while bad harvests added to food shortages. A family depending on factory wages could therefore lose its income just as food became harder to obtain.
Use precise supporting details, such as Witte’s gold standard in 1897, the recession of 1899–1902 or the mir system, rather than describing Russia simply as ‘backward’.
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