This quiz works best with JavaScript enabled. Home > Indian Economy > Globalisation And The Indian Economy – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Globalisation And The Indian Economy Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Any substance that makes a spectacular dish A) Food miles. B) Ingre. C) Diet. D) Freshness. Show Answer Correct Answer: B) Ingre. 2. It refers to the globalisation which creates opportunities for all and ensures that its benefits are better shared. A) Privatisation. B) Special Economic Zones (SEZs). C) World Trade Organisation (WTO). D) Fair globalisation. Show Answer Correct Answer: D) Fair globalisation. 3. The process of rapid integration or interconnection between countries through free trade, free mobility of capital and labour is called A) Foreign trade. B) Liberalisation. C) Globalisation. D) Privatisation. Show Answer Correct Answer: C) Globalisation. 4. How is a tariff best described? A) A tax on imports. B) A violation of human rights. C) Comparative Advantage. D) Contributing to a favorable balance of trade. Show Answer Correct Answer: A) A tax on imports. 5. According to Friedman (2005), this phase continues to spread globalization due to technologies like fiber-optic network. A) Globalization 1.0. B) Globalization 2.0. C) Globalization 3.0. D) None of above. Show Answer Correct Answer: C) Globalization 3.0. 6. Production of services across countries has been facilitated by A) Money. B) Machine. C) Labour. D) Information and communication technology. Show Answer Correct Answer: D) Information and communication technology. 7. Globalization is not supported by A) Privatization. B) Liberalization. C) Information and communication technology. D) None of these. Show Answer Correct Answer: D) None of these. 8. What is the role of MNCs in the globalisation process? A) MNCs play a major role in promoting globalisation by investing in foreign countries, establishing production facilities, and facilitating the exchange of goods and services between countries. B) MNCs have no role in the globalisation process. C) MNCs hinder the globalisation process by creating trade barriers and restricting the flow of goods and services between countries. D) MNCs only benefit from the globalisation process without contributing to it. Show Answer Correct Answer: A) MNCs play a major role in promoting globalisation by investing in foreign countries, establishing production facilities, and facilitating the exchange of goods and services between countries. 9. Which of the following contributes to globalisation? A) Internal trade. B) External trade. C) Large scale trade. D) Small scale trade. Show Answer Correct Answer: B) External trade. 10. Which one of the following is not true regarding the World Trade Organisation? A) It allows free trade to all countries without any trade barriers. B) Its aim is to liberalise international trade. C) It establishes rules regarding internaional trade. D) WTO rules have forced the developing countries to remove trade barriers. Show Answer Correct Answer: A) It allows free trade to all countries without any trade barriers. 11. Which one of the following is a major benefit of joint production between a local company and a Multi-National Company? A) MNC can bring latest technology in the production. B) MNC can control the increase in the price. C) MNC can buy the local company. D) MNC can sell the products under their brand name. Show Answer Correct Answer: C) MNC can buy the local company. 12. Investments made by MNCs are termed as: A) Indigenous investment. B) Foreign investment. C) Entrepreneur's investment. D) None of the above. Show Answer Correct Answer: B) Foreign investment. 13. World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries? A) Rich countries. B) Poor countries. C) Developed countries. D) Developing countries. Show Answer Correct Answer: C) Developed countries. 14. Assertion(A):There are several goods and services that the society needs; however, the private sector does not produce all of them.Reason(R):Private sector is profit driven. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true and R is not the correct explanation of A. C) Assertion is true, but reason is false. D) Assertion is false, but reason is true. Show Answer Correct Answer: A) Both A and R are true and R is the correct explanation of A. 15. Countries impose restriction or barrier on foreign trade by ..... A) Applying High rate of interest. B) Banning import and export of certain goods. C) Banning trade with certain countries. D) All of the above. Show Answer Correct Answer: D) All of the above. 16. Where do MNCs choose to set up production? A) Cheap goods. B) Cheap labour resources. C) Economic sustainability. D) None of these. Show Answer Correct Answer: B) Cheap labour resources. 17. In the past few years, WTO has influenced important decisions relating to trade and investments. Why? A) Demonstrated organised by asian countries. B) Massive campaigns and representation by people's organisations. C) Developing countries have created alternative solutions against MNCs. D) None of above. Show Answer Correct Answer: B) Massive campaigns and representation by people's organisations. 18. Selling of goods to any other country is called ..... A) Export. B) Import. C) Collateral. D) None of above. Show Answer Correct Answer: A) Export. 19. Globalisation leads to rapid movements of the following between countries: A) Goods and services. B) Investments. C) People. D) All the above. Show Answer Correct Answer: D) All the above. 20. The past two decades of globalisation has seen rapid movements in: A) Goods, services and people between countries. B) Goods, services and investments between countries. C) Goods, services and people between countries. D) None of the above. Show Answer Correct Answer: B) Goods, services and investments between countries. ← 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 8Globalisation And The Indian Economy Quiz 9Globalisation And The Indian Economy Quiz 10Globalisation And The Indian Economy Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books