This quiz works best with JavaScript enabled. Home > Indian Economy > Global > Globalisation And The Indian Economy – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Globalisation And The Indian Economy Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Globalisation, by connecting countries, shall result in A) Lesser competition among producers. B) Greater competition among producers. C) No change in competition among producers. D) None of above. Show Answer Correct Answer: B) Greater competition among producers. 2. Globalization so far has been more in favour of: A) Developed countries. B) Developing countries. C) Poor countries. D) None of these. Show Answer Correct Answer: A) Developed countries. 3. Amalgamation and rapid unification between countries can be identified as A) Globalisation. B) Liberalisation. C) Socialisation. D) Privatisation. Show Answer Correct Answer: A) Globalisation. 4. Rapid integration or interconnection between countries is known as: A) Privatisation. B) Globalisation. C) Liberalisation. D) Socialisation. Show Answer Correct Answer: B) Globalisation. 5. World Trade Organisation (WTO) was started at the initiative of developing countries. A) True. B) False. Show Answer Correct Answer: B) False. 6. In recent years China has been importing steel from India. Explain how the import of steel by China will affect.(a) steel companies in China.(b) steel companies in India.(c) industries buying steel for production of other industrial goods in China. A) Steel companies in China will face competition and may have to lower their prices.(b) Steel companies in India will benefit from increased demand and may increase their production.(c) Industries buying steel for production of other industrial goods in China will have access to cheaper steel. B) Steel companies in China will benefit from increased supply and may increase their production.(b) Steel companies in India will face competition and may have to lower their prices.(c) Industries buying steel for production of other industrial goods in China will have access to cheaper steel. C) Steel companies in China will face competition and may have to increase their prices.(b) Steel companies in India will benefit from increased demand and may decrease their production.(c) Industries buying steel for production of other industrial goods in China will have access to more expensive steel. D) Steel companies in China will benefit from decreased supply and may decrease their production.(b) Steel companies in India will face competition and may have to increase their prices.(c) Industries buying steel for production of other industrial goods in China will have access to more expensive steel. Show Answer Correct Answer: A) Steel companies in China will face competition and may have to lower their prices.(b) Steel companies in India will benefit from increased demand and may increase their production.(c) Industries buying steel for production of other industrial goods in China will have access to cheaper steel. 7. Which of the following factors has not facilitated globalisation? A) Technology. B) Liberalisation of trade. C) WTO. D) Nationalisation of banks. Show Answer Correct Answer: D) Nationalisation of banks. 8. Fair globalisation refers to ensuring benefits to: A) Labourers. B) Producers. C) Consumers. D) All the above. Show Answer Correct Answer: D) All the above. 9. Assertion:developed countries have unfairly retained trade barriers. Reason:WTO rules have forced the developing countries to remove trade barriers. A) A is correct but R is incorrect. B) A is false and R is true. C) Both A & R are true. D) None of above. Show Answer Correct Answer: C) Both A & R are true. 10. In which year did the government decide to remove barriers on foreign trade and investment in India? A) 1992. B) 1993. C) 1995. D) 1991. Show Answer Correct Answer: D) 1991. 11. SEZ may prove harmful to the farmers whose lands have been acquired and to the small producers. A) True. B) False. Show Answer Correct Answer: A) True. 12. Removing Barriers or restrictions from foreign trade is called Privatization of foreign Trade. A) True. B) False. Show Answer Correct Answer: B) False. 13. Suppose the Indian government puts the tax on the import of toys from China, what would happen? A) Toys will get cheaper, more purchase by a customer. B) Toys will get expensive, less purchase by a customer. C) Toys will get expensive, more purchase by a customer. D) No effect. Show Answer Correct Answer: B) Toys will get expensive, less purchase by a customer. 14. Which one is false? A) MNCs acquire small companies to expand production. B) MNCs enter into joint venture to enter into foreign markets. C) MNCS offer subsidy to the small scale industries. D) MNCs set up own production center in foreign countries. Show Answer Correct Answer: C) MNCS offer subsidy to the small scale industries. 15. A ..... is a company that owns or controls production in more than one nation/country. A) Reliance. B) Microsoft. C) MNC. D) Uni Lever. Show Answer Correct Answer: C) MNC. 16. Removing barriers or restrictions set by the government is called- A) Investment. B) Liberalisation. C) Free Trade. D) Favourable Trade. Show Answer Correct Answer: B) Liberalisation. 17. Which of the following has played a big role in organising production across the country? A) WTO. B) Domestic companies. C) Information technology. D) Consumers. Show Answer Correct Answer: C) Information technology. 18. A nation may put a limit on the amount of foreign goods imported by placing a ..... on these goods. A) Export. B) Quota. C) Deficit. D) Trade Surplus. Show Answer Correct Answer: B) Quota. 19. All ..... buy and sell goods. A) People. B) Villages. C) Businesses. D) Nations. Show Answer Correct Answer: D) Nations. 20. Selected areas created and are equipped with world class facilities are called ..... A) Special Economic Zones. B) Electronic Capital. C) IT centers. D) None of above. Show Answer Correct Answer: A) Special Economic Zones. Next →Related QuizzesIndian Economy QuizzesGlobalisation And The Indian Economy Quiz 2Globalisation And The Indian Economy Quiz 3Globalisation And The Indian Economy Quiz 4Globalisation And The Indian Economy Quiz 5Globalisation And The Indian Economy Quiz 6Globalisation And The Indian Economy Quiz 7Globalisation And The Indian Economy Quiz 8Globalisation And The Indian Economy Quiz 9Globalisation And The Indian Economy Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books