SUPPORT MATERIAL OF SOCIAL SCIENCE FOR CLASS -X
MCQs Chapter 4 Economics-
Globalization and the Indian Economy
Note- Each Question
Carries One Marks
Question 1. An MNC is a
company that owns or controls production in
(a) one
country (b) more than one country (c) only developing countries (d) only
developed countries
Answer:
b
Question 2. The process
of rapid integration or interconnection between countries through free trade,
free mobility of capital and labour is called
(a)Foreign trade (b)
Liberalization (c) Globalization (d) Privatization
Answer: c
Question 3. What was the
main channel connecting countries in the past?
(a) Labour
(b) Religion (c) Technology (d) Trade
Answer:
d
4.
‘The impact of Globalization has not been fair.’ Who among the following people
have not benefitted from globalization?
(a)
Well off consumers (b) Small producers and workers (c) Skilled and educated
producers (d) Large wealthy producers
Answer: b
Question
5. What is the main motive behind the investments of MNCs?
(a) The
main motive is to increase their assets and earn profits. (b) The main motive
is the welfare of the poor people. (c) The main motive of an MNCs is to offer
financial support to the government of their country. (d) The main motive is to
benefit foreign countries.
Answer:
b
Question
6. “MNCs keep in mind certain factors before setting up production”. Identify
the incorrect option from the choices given below
(a) Availability
of cheap skilled and unskilled labour (b) Proximity to markets (c) Presence of
a large number of local competitors (d) Favorable government policies
(b) Answer:
c
Question
7. Which Indian company was bought over by Cargill Foods—a large American MNC?
Pick out the name from the alternatives provided (a) Amul (b) Fun Foods Ltd.
(c) Agro Tech Foods Ltd. (d) Parakh Foods
Answer:
d
Question
8. Which organization supports liberalization of foreign trade and investments
in India? (a) International Labour Organization (ILO) (b) World Bank (c) World
Trade Organization (WTO) (d) International Monetary Fund (IMF)
Answer: c
Question
9. In which year did the government decide to remove barriers on foreign trade
and investment in India? (a) 1993 (b) 1992 (c) 1991 (d) 1990
Answer:
c
Question
10. Which of the following industries have been hard hit by foreign
competition? (a) Dairy products (b) Leather industry (c) Cloth industry (d)
Vehicle industry
Answer:
a
Question
11. _____________ refers to all those different economic reforms or policy
measures and changes which aim at increasing the productivity and efficiency by
creating an environment of competition in the economy.
Answer:
New Economic Policy
Question 12. Indian government felt the need
for removing barriers on foreign trade and foreign investment in ____________
Answer:
1991
Question 13. A _____________ is a company that
owns or controls production in more than one nation/country.
Answer:
Multinational Corporation (MNC)
Question 14. _____________ refers to exchange
of goods, i.e., purchase and sale, across geographical boundaries of the
countries.
Answer:
Foreign trade
15.
The main aim of World Trade Organization is _____________
Answer:
To liberalize international trade
16.
‘Increased job opportunities’ is an impact of _____________
Answer:
Globalization
17.
The industrial zones which are set up to attract the foreign investment are
known as _____________
Answer:
Special Economic Zones (SEZs)
18.
‘Increase in GNP’ is a positive impact of liberalization. (True/False)
Answer:
True, as with the trade and investment barriers being removed, international
trade and investments would get promoted.
19.
‘Deregulation of Industries’ is a feature of economic reforms introduced in
1991 in India. (True/False)
Answer:
True, as the government imposes less restrictions and is more liberal.
20.
Rapid integration or interconnection between countries is known as
socialization. (True/False)
Answer:
False, as rapid integration or interconnection between countries is known as
globalization.
21.
World Trade Organization (WTO) was started at the initiative of developing
countries. (True/False)
Answer:
False, as World Trade Organization (WTO) was started at the initiative of
developed countries.
22.
‘Ensuring that rules are being followed’ is a function of World Trade
Organization. (True/False)
Answer:
True, as it is an international body looking after the free-trade between the
numbers.
23.
As on July 2016, 175 countries are the members of World Trade Organization.
(True/False)
Answer:
False, as on July 2016, nearly 165 countries are the members of World Trade
Organization.
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