NCERT MCQ ON Liberalisation, Privatisation and Globalisation: An Appraisal:
Question 1: Which of the following is the feature of New Economic Reforms ?
(a) Globalization
(b) Liberalization
(c) Privatization
(d) All of the above
Answer : D
Question2 : MUDRA Bank was set up to meet the credit needs of the _
(a) farmers
(b) small enterprises
(c) large enterprises
(d) exporters
Answer : B
Question 3: Why there was a need for economic reforms in India?
(a) Due to fiscal deficit
(b) Due to adverse BOP
(c) Rise in prices
(d) All of the above
Answer : D
Question4 : How many industries are entirely reserved for the public sector?
(a) 6
(b) 10
(c) 2
(d) 4
Answer : C
Question5 : Who is the Chairman of the GST Council?
(a) Finance Minister
(b) Prime Minister
(c) Finance Secretary
(d) Deputy Chairman of NITI Aayog
Answer : A
Question6 : New Economic Policy was introduced in the year___________.
(a) 1980
(b) 1991
(c) 2013
(d) 2015
Answer : B
Question7 : Special Economic Zones (SEZ) developed by the Government of India aim
(a) to attract foreign companies to invest in India
(b) to encourage small investors
(c) to encourage regional development
(d) none of the above
Answer : A
Question8 : Where is the headquarters of WTO located?
(a) Italy
(b) Geneva
(c) New York
(d) Washington
Answer : B
Question9 : Freedom of the producing units from direct or physical control imposed by the government is called____
(a) Privatization
(b) Globalization
(c) Liberalization
(d) None of the above
Answer : C
Question10 : FDI (Foreign Direct Investment) attracted by globalisation in India belongs to the
(a) World Bank
(b) multinationals
(c) foreign governments
(d) none of the above
Answer : B
Question11 : When was WTO established?
(a) 1996
(b) 1998
(c) 2000
(d) 1995
Answer : D
Question12 : If a country liberalises its trade, it will make the country more attractive for
(a) inward investment
(b) exchange reserve
(c) consumption
(d) price
Answer : A
Question13 : Globalisation has improved the living structure of which of the following?
(a) All the people
(B) Workers in developing countries
(C) People in developed countries
(D) None of the above
Answer : B
Question 14: Where is the headquarters of WTO located?
(a) Italy
(b) Geneva
(c) New York
(d) Washington
Answer : B
Question15 : Economic reforms were introduced in India in the year _________
(a) 1991
(b) 1992
(c) 2001
(d) 2005
Answer : A
Question16 : Tax on imports is an example of:
(a) Terms of Trade
(b) Collateral
(c) Trade Barriers
(d) Foreign Trade
Answer : C
Question17 : For how many industries, licensing is still necessary?
(a) 7
(b) 6
(c) 9
(d) 10
Answer : B
Question18 : 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
Answer : A
Question19 : Which of the following replaced MRTP Act?
(a) Competition Act
(b) Foreign Exchange Management Act
(c) New Companies Act
(d) None of these
Answer : A
Question20 : When did the Gulf Crisis take place?
(a) 1985
(b) 1990-91
(c) 1995
(d) 1975
Answer : B
Question21 : The removal of tariff barriers can lead to lower prices for
(a) suppliers
(b) consumers
(c) competitors
(d) none of these
Answer : B
Question22 : The New Economic Policy was introduced in India in _____________.
(a) 1991
(b) 1998
(c) 1997
(d) None of these
Answer : A
Question23 : New economic policy is also known as___
(a) New economic reforms
(b) New economic region
(c) New economic law
(d) None of the above
Answer : A
Question 24: Which of these institutes supports investments and foreign trade in India?
(a) International Monetary Fund (IMF)
(b) World Trade Organisation (WTO)
(c) World Bank
(d) International Labour Organisation (ILO)
Answer: B
Question25 : What is the investment limit in small scale industries?
(a) 50 lakh
(b) 1 crore
(c) 25 lakh
(d) 75 crore
Answer : B
Question 26: LPG stands for
(a) Liberalization, Privatization, Globalization
(b) Liquidity, Publicity, Government
(c) Liberalization, Privatization,Government
(d) None of the above
Answer : A
Question27 : How many countries are the members of WTO?
(a) 164
(b) 120
(c) 96
(d) 48
Answer : A
Question 28: Globalisation results in
(a) inflow of labour from abroad
(b) inflow of capital from abroad
(c) inflow of tourists from abroad
(d) all the above
Answer : B
Question29 : Opening the doors of economy for foreign companies , technology, capital, human resource et(c) is called___
(a) Globalization
(b) Liberalization
(c) Privatization
(d) None of the above
Answer : A
Question30 : Which one of the following Indian indus¬tries has been hit hard by globalisation?
(a) Information Technology (IT)
(b) Toy making
(c) Jute
(d) Cement
Answer : B
Question31 : is the result of New Industrial Policy which abolished the ‘License System’.
(a) Globalisation
(b) Privatisation
(c) Liberalisation
(d) None of these
Answer : B
Question32 : Globalisation has led to improvement in
(a) choice to consumers
(b) quality of goods and services
(c) foreign investment
(d) all the above
Answer : D
Question33 : Globalisation so far has been more in favour of:
(a) developed countries
(b) developing countries
(c) poor countries
(d) none of the above
Answer : A
Question 34: Globalisation has led to higher standards of living of:
(a) well-off consumers
(b) poor consumers
(c) big producers
Answer : A
Question 35: What is happening with the import of Chinese toys in India ?
(a) Indian toys are selling more
(b) Indian consumers are buying less
(c) Indian consumers are getting more choice at cheaper rates
(d) Chinese consumers are falling short of choice
Answer : C
Question 35: Which out of the following is an example of a trade barrier?
(a) Foreign investment
(b) Delay or damage of goods
(c) Tax on imports
(d) None of these
Answer : C
Question 36: Globalisation has posed major challenges for:
(a) big producers
(b) small producers
(c) rural poor
(d) none of these
Answer : B
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