1. Removing barriers or restrictions set by the government is called:
(a) Liberalisation
(b) Investment
(c) Fovourable trade
(d) Free trade
Answer
Answer: a
2. Rapid integration or interconnection between countries is known as:
(a) Privatisation
(b) Globalisation
(c) Liberalisation
(d) Socialisation
Answer
Answer: b
3. Globalisation has led to improvement in living conditions:
(a) of all the people
(b) of people in the developed countries
(c) of workers in the developing countries
(d) none of the above.
Answer
Answer: c
4. 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
Answer: b
5. 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
Answer
Answer: c
6. Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment?
(a) International Labour Organisation
(b) International Monetary Fund
(c) World Health Organisation
(d) World Trade Oraganisation
Answer
Answer: d
7. Investments made by MNCs are termed as:
(a) Indigenous investment
(b) Foreign investment
(c) Entrepreneur’s investment
(d) None of the above
Answer
Answer: b
8. Which of the following is not a feature of a Multi-National Company?
(a) It owns/controls production in more than one nation.
(b) It sets up factories where it is close to the markets.
(c) It organises production in complex ways.
(d) It employs labour only from its own country.
Answer
Answer: d
9. Tax on imports is an example of:
(a) Terms of Trade
(b) Collateral
(c) Trade Barriers
(d) ForeignTrade
Answer
Answer: c
10. Which one of the following is not characteristic of‘Special Economic Zone’?
(a) They do not have to pay taxes for long period.
(b) Government has allowed flexibility in labour laws.
(c) They have world class facilities.
(d) They do not have to pay taxes for an initial period of five years.
Answer
Answer: a
11. Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of:
(a) 2 years
(b) 5 years
(c) 4 years
(d) 10 years
Answer
Answer: b
12. 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
Answer
Answer: d
13. 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
Answer: b
14. 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
Answer
Answer: c
15. What was the main channel connecting countries in the past?
(a) Labour
(b) Religion
(c) Technology
(d) Trade
Answer
Answer: d
16. ‘The impact of Globalisation has not been fair.’ Who among the following people have not benefitted from globalisation?
(a) Well off consumers
(b) Small producers and workers
(c) Skilled and educated producers
(d) Large wealthy producers
Answer
Answer: b
17. 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
Answer: a
18. “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) Favourable government policies
Answer
Answer: c
19. WTiich 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
Answer: d
20. WTiich 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)
Answer
Answer: c
21. 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
Answer: c
22. 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
Answer: a
23. _____________ 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/Explanation
Answer:
Explanation: New Economic Policy
24. Indian government felt the need for removing barriers on foreign trade and foreign investment in ____________ .
Answer/Explanation
Answer:
Explanation: 1991
25. A _____________ is a company that owns or controls production in more than one nation/country.
Answer/Explanation
Answer:
Explanation: Multinational Corporation (MNC)
26. _____________ refers to exchange of goods, i.e., purchase and sale, across geographical boundaries of the countries.
Answer/Explanation
Answer:
Explanation: Foreign trade
27. The main aim of World Trade Organisation is _____________ .
Answer/Explanation
Answer:
Explanation: To liberalise international trade
28. ‘Increased job opportunities’ is an impact of _____________ .
Answer/Explanation
Answer:
Explanation: Globalisation
29. The industrial zones which are set up to attract the foreign investment are known as _____________ .
Answer/Explanation
Answer:
Explanation: Special Economic Zones (SEZs)
30. ‘Increase in GNP’ is a positive impact of liberalisation. (True/False)
Answer/Explanation
Answer:
Explanation:
True, as with the trade and investment barriers being removed, international trade and investments would get promoted.
31. ‘Deregulation of Industries’ is a feature of economic reforms introduced in 1991 in India. (True/False)
Answer/Explanation
Answer:
Explanation:
True, as the government imposes less restrictions and is more liberal.
32. Rapid integration or interconnection between countries is known as socialisation. (True/False)
Answer/Explanation
Answer:
Explanation:
False, as rapid integration or interconnection between countries is known as globalisation.
33. World Trade Organisation (WTO) was started at the initiative of developing countries. (True/False)
Answer/Explanation
34. ‘Ensuring that rules are being followed’ is a function of World Trade Organisation. (True/False)
Answer/Explanation
Answer:
Explanation:
True, as it is an international body looking after the free-trade between the numbers.
35. As on July 2016, 175 countries are the members of World Trade Organisation. (True/False)
Answer/Explanation
Answer:
Explanation:
False, as on July 2016, nearly 165 countries are the members of World Trade Organisation.
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MCQ Questions for Chapter 5 Print
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Geography – Contemporary India II |
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