This quiz works best with JavaScript enabled. Home > Indian Economy > Globalisation And The Indian Economy – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Globalisation And The Indian Economy Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Nations trade internationally to increase their ..... ? A) Wants. B) Needs. C) Ideas. D) Wealth. Show Answer Correct Answer: D) Wealth. 2. One of the cause for imposing trade barrier ..... A) To protect local small manufacturers. B) To encourage investment of MNC. C) To encourage foreign import. D) None of above. Show Answer Correct Answer: A) To protect local small manufacturers. 3. Which organisation supports liberalisation of foreign trade and investments in India? A) International Labour Organisation (ILO). B) World Bank. C) World Trade Organisation (WTO). D) International Monetary Fund (IMF). Show Answer Correct Answer: C) World Trade Organisation (WTO). 4. Ford Motors set up its first plant in India at: A) Kolkata. B) Mumbai. C) Chennai. D) Delhi. Show Answer Correct Answer: C) Chennai. 5. Globalisation provides A) Choice of goods and services. B) Competitive price. C) Better quality. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. WTO stands for A) World Tennis Organization. B) World Trade Office. C) World Trade Organization. D) World Trade center. Show Answer Correct Answer: C) World Trade Organization. 7. Indian Government put barrier to foreign trade and investment after independence to save domestic producers. A) True. B) False. Show Answer Correct Answer: A) True. 8. Process of integration of different countries is called A) Liberalization. B) Privatization. C) Globalization. D) None of above. Show Answer Correct Answer: C) Globalization. 9. Liberalisation refers to A) Freeing the economy from direct control. B) Putting an end to various restrictions. C) Opening up the economy. D) All the above. Show Answer Correct Answer: D) All the above. 10. The main objective of World Trade Organisation is to ..... A) No restrictions on import or export. B) Allow meeting of producers and consumers. C) Create environment suitable for trade. D) None of above. Show Answer Correct Answer: A) No restrictions on import or export. 11. Distinguish between foreign trade and foreign investment. A) Foreign trade involves the exchange of goods and services between countries, while foreign investment involves the investment of capital in a foreign country. B) Foreign trade involves the investment of capital in a foreign country, while foreign investment involves the exchange of goods and services between countries. C) Foreign trade and foreign investment are the same thing. D) Foreign trade and foreign investment are unrelated. Show Answer Correct Answer: A) Foreign trade involves the exchange of goods and services between countries, while foreign investment involves the investment of capital in a foreign country. 12. Money that is spent to buy assets such as land, building, machines and other equipments is called ..... A) Export. B) Import. C) Investment. D) Infrastructure. Show Answer Correct Answer: C) Investment. 13. How many countries of the world are currently members of the WTO? A) 164. B) 167. C) 155. D) 132. Show Answer Correct Answer: A) 164. 14. What attracts an MNC? A) A-Cheap labour. B) B-Ready demand for the product. C) Both (a) and (b). D) None of the above. Show Answer Correct Answer: C) Both (a) and (b). 15. The sectors are classified into public and private sector on the basis of: A) Employment conditions. B) The nature of economic activities. C) Number of workers employed. D) Ownership of enterprises. Show Answer Correct Answer: D) Ownership of enterprises. 16. For participating countries, what did NAFTA call for? A) A challenge to U.S. economic leadership. B) The development of a single currency. C) Removal of environmental controls. D) The gradual removal of trade restrictions. Show Answer Correct Answer: D) The gradual removal of trade restrictions. 17. Globalisation has been of advantage to A) All the people. B) The poorer section of the society. C) The richer section of the society. D) None of the above. Show Answer Correct Answer: C) The richer section of the society. 18. Globalisation so far has been more in favour of: A) Developed countries. B) Developing countries. C) Poor countries. D) None of the above. Show Answer Correct Answer: A) Developed countries. 19. Which one of the following is not true regarding impact of globalisation of India? A) It has created jobs in the service sector. B) People with education, skill and wealth have not been benefited. C) Benefits of globalisation are not shared equally. D) Labour laws are not implemented properly and workers are denied their rights. Show Answer Correct Answer: D) Labour laws are not implemented properly and workers are denied their rights. 20. MNC is a company A) That owns or controls production in more than one nation. B) That owns or controls production in one nation. C) That owns or controls production outside the nation. D) All the above. Show Answer Correct Answer: A) That owns or controls production in more than one nation. ← PreviousNext →Related QuizzesGlobalisation And The Indian Economy Quiz 1Globalisation 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