Globalisation and the Indian economy
Class X
Economics
1) Which of the following statements are true about MNCs?
a) A MNC is a company that owns or controls production in more than one nation.
b) MNCs set up offices and factories for production in regions where they can get cheap labour and other resources.
c) This is done so that the cost of production is low and the MNCs can earn greater profits.
d) All of the above.
Ans: (d)
2) The MNC not only sell its finished products globally but, more importantly, the goods and services are produced globally. State whether true or false.
a) False
b) True
Ans: (b)
3) ___________ provides the advantage of being a cheap manufacturing location.
a) China
b) Japan
c) South Korea
d) None of the above
Ans : (a)
4) Cargill Foods, a very large ________ MNC, is the largest producer of edible oil in India, with a capacity to make 5 million pouches daily.
a) Dutch
b) French
c) British
d) American
Ans: (d)
5) __________, footwear, and sports items are examples of industries where production is carried out by a large number of small producers around the world.
a) Confectionery
b) Garments
c) Petroleum products
d) None of the above
Ans: (b)
6) __________, an American company, is one of the world’s largest automobile manufacturers, with production spread over 26 countries of the world.
a) Ford Motors
b) Porsche
c) Audi
d) None of the above
Ans: (a)
7) The products are supplied to the MNCs, which then sell them under their own brand names to the customers. These large MNCs have tremendous power to determine the _____.
a) Price
b) Quality
c) Labour conditions for these distant producers
d) All of the above
Ans: (d)
8) Ford Motors came to India in _______ and spent Rs. 1700 crore to set up a large plant near Chennai.
a) 1995
b) 1999
c) 1990
d) 1998
Ans: (a)
9) When Ford established its manufacturing plant in India, it collaborated with _______.
a) Hero Motors
b) Maruti Suzuki
c) Tata Motors
d) Mahindra & Mahindra
Ans: (d)
10) Ford Motors was selling 27,000 cars in the Indian markets, while 24,000 cars were exported from India to South Africa, Mexico and _______.
a) Brazil
b) Argentina
c) Chile
d) None of the above
Ans: (a)
11) Chinese toys have become more popular in the Indian markets. Within a year, ___________ of the toy shops have replaced Indian toys with Chinese toys.
a) 50 to 60 per cent
b) 80 to 90 per cent
c) 100 per cent
d) 70 to 80 per cent
Ans: (d)
12) Which of the following is true regarding the opening of trade?
a) Choice of goods in the markets rises.
b) Producers in the two countries now closely compete against each other even though they are separated by thousands of miles.
c) Foreign trade thus results in connecting the markets or integration of markets in different countries.
d) All of the above.
Ans: (d)
13) Globalisation is a process of slow integration or interconnection between countries. State whether true or false.
a) False
b) True
Ans: (a)
14) _________ have led to a huge reduction in port handling costs and increased the speed with which exports can reach markets.
a) Containers
b) Cranes
c) Elevators
d) None of the above
Ans: (a)
15) The cost of _______has fallen. This has enabled much greater volumes of goods being transported by _______.
a) Air transport, airlines
b) Road transport, four wheelers
c) Rail transport, railways
d) None of the above
Ans: (a)
16) Governments can use trade barriers to increase or decrease (regulate) foreign trade and to decide what kinds of goods and how much of each should come into the country. State whether true or false.
a) True
b) False
Ans: (a)
17) Removing barriers or restrictions set by the government is known as _____.
a) Globalisation
b) Disinvestment
c) Privatisation
d) Liberalisation
Ans: (d)
18) Starting around ________, some far-reaching changes in policy were made in India. The government decided that the time had come for Indian producers to compete with producers around the globe.
a) 2011
b) 2001
c) 1991
d) 1981
Ans: (c)
19) Nearly _________ countries of the world are members of the WTO as of June 2014.
a) 50
b) 100
c) 160
d) 200
Ans: (c)
20) Started at the initiative of the ________, WTO establishes rules regarding international trade and sees that these rules are obeyed.
a) Middle-income countries
b) Poor countries
c) Developing countries
d) Developed countries
Ans: (d)
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21) Select the Correct Answer from the given option. .............. is the process of rapid integration or interconnection between countries.
(a) Privatisation
(b) Liberalisation
(c) Globalisation
(d) None of these
Ans. (c)
22) has been one of the major factor that has stimulated the globalisation process. [CBSE March 2012]
(a) Technology
(b) Ship industry
(c) Democracy
(d) Socialism
Ans. (a)
23 )Which of the following is a feature of trade barriers ? [CBSE March 2011] (i)
(i)Government can use trade barriers to regulate foreign trade.
(ii) Government can use it to decide what kind of goods and how much of each, should come into the country.
(iii) WTO encourages trade barriers.
(iv) Most of the countries use trade barriers to protect their home industry.
(a) Only (i) and (ii) (b) Only (ii) and (iii)
(c) Only (iii) (d) All the mentioned above
Ans. (c)
24) Removing barriers or restrictions set up by the government is known as
(a) Privatisation
(b) Globalisation
(c) Liberalisation
(d) Industrialisation
Ans. (c)
25) Removing barriers or restrictions set by the government on foreign trade and foreign investment is known as:
(a) Globalisation
(b) Liberalisation
(c) Taxation netic
(d) Nationalisation
Ans(b)
26) Which one among the following is a far reaching change in the policy made in India in 1991 ? [CBSE March 2011]
(a) Removing barriers or restrictions set by the government which is known as liberalisation.
(b) Put barriers to foreign trade and foreign investments. bangs
(c) Restrictions set by the government to protect the producers within the country from foreign competition.
(d) By giving protection to domestic producers through a variety of means.
Ans. (a)
27) Special Economic Zones (SEZs) are being
(a) They do not have to pay taxes for a long period
(b) Government has allowed flexibility in labour laws
(c) They have world class facilities.
(d) They do not have to pay taxes for an period of five years.
Ans. (a)
28) Which of the following is the aim of World Trade Organisation?
(a) To liberalise international trade
(b) To provide loans to the developing countries
(c) To help countries economically
(d) To resolve the political disputes between countries.
Ans. (a)
29. Which one of the following defines 'Liberalisation' ?
(a) Impose the tax on economic activities
(b) To set barriers by the government in the economic field
(c) To remove barriers set by the government
(d) Self-control on all economic activities
Ans. (c)
30) Who among the following had initiated to start the World Trade Organization (WTO)?
(a) European Union
(b) Non-Aligned countries
(c) Developing countries
(d) Developed countries
Ans. (d)