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Assertion & Reason Test: Globalization & the Indian Economy - 1


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Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 1

Match the following items given in column A with those in column B:

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 1

(i) MNCs buy at cheap rates from small producers: MNCs buy Garments, Footwear, Sports items at cheap rates from small producers because it reduces their cost of production and using their brand value they sell them at high prices and earn profits.

(ii) Quotas and taxes on imports are used to regulate trade: Quotas and taxes on imports are used to regulate trade items received through import. These are called Trade barriers. These are imposed to protect the domestic industries from the competition by foreign goods. In the absence of trade barriers the imports would flood the domestic market.

(iii) Indian companies who have invested abroad: Tata motors, Ranbaxy and Infosys are the Indian companies which have invested in foreign countries.

(iv) IT has helped in spreading of production of services: With the development of satellite communication and e-mail, the Information technology led to the establishment of call centres for the easy dissemination of information.

(v) Several MNCs have invested in setting up factories in India for production: Because of the presence of huge population and improving living standards, the number of automobiles in India are increasing. Also, because of the increase in Foreign direct investment, several companies have established automobile industries in India.

Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 2

Match the following items given in column A with those in column B:

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 2

(i) Tata Motors: Tata Motors Limited is an Indian multinational automotive manufacturing company, headquartered in Mumbai, Maharashtra which is part of Tata Group.

(ii) Asian Paints: Asian Paints Ltd is an Indian multinational paint company, headquartered in Mumbai. The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services.

(iii) Infosys: Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services. The company was founded in Pune and is headquartered in Bangalore.

(iv) Sundaram Fasteners: “Now, Sundram Fasteners is not just a fastener company any more, but a broad-based engineering company capable of undertaking the manufacture of various components and assembly systems for automotive and other engineering applications in India and abroad.

Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 3

Arrange the following in the correct Sequence:

(i) Meanwhile, the company ’s customer care is carried out through call centres located in India.

(ii) And then have the components manufactured in China.

(iii) A large MNC, Producing industrial equipment, designs its products in research centres in the United States.

(iv) These are then shipped to Mexico and Eastern Europe where the products are assembled and the finished products are sold all over the world.

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 3 Correct sequence is

(iii) A large MNC, Producing industrial equipment, designs its products in research centres in the United States.

(ii) And then have the components manufactured in China.

(iv) These are then shipped to Mexico and Eastern Europe where the products are assembled and the finished products are sold all over the world.

(i) Meanwhile, the company ’s customer care is carried out through call centres located in India.

Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 4

Arrange the following in the correct Sequence:

(i) A news magazine published for London readers is to be designed and printed in Delhi.

(ii) The designing is done on a Computer. After printing the magazines are sent by air to London.

(iii) The payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (E-banking)

(iv) The text of the magazines is sent through is sent through Internet to the Delhi office The designers in Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities.

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 4 Correct sequence is

(ii) The designing is done on a Computer. After printing the magazines are sent by air to London.

(iv) The text of the magazines is sent through is sent through Internet to the Delhi office The designers in Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities.

(i) A news magazine published for London readers is to be designed and printed in Delhi.

(iii) The payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (E-banking) .

Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 5

Analyze the information given below, considering one of the following correct options:

Though WTO is supposed to allow free trade for all, in practice, it is seen that the developed countries have unfairly retained trade barriers. On the other hand, WTO rules have forced the developing countries to remove trade barriers. An example of this is the current debate on trade in agricultural products.

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 5 The World Trade Organization is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international trade.
Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 6

Analyze the information given below, considering one of the following correct options:

A news magazine published for London readers is to be designed and printed in Delhi. The text of the magazine is sent through the Internet to the Delhi office. The designers in the Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing is done on a computer. After printing, the magazines are sent by air to London. Even the payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (e-banking)!

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 6 Technology is the vital force in the modern form of business globalization. Technology has enabled the software experts to work collaboratively over the network with companies from around the world. The technological advancement has helped a lot in creation and growth of global market.
Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 7

In the question given below, there are two statements marked as Assertion (A) and Reason (R). Read the Statements and choose the correct option:

Assertion (A) : The Indian government, after independence, had put barriers to foreign trade and foreign investment.

Reason (R) : The government considered it necessary to protect the producers within the country from foreign competition.

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 7 The Indian government after independence had put barriers to foreign trade and investment. This was done to protect the producers within the country from foreign competition. To protect the Indian economy from foreign infiltration in industries affecting the economic growth of the country as planned.
Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 8

In the question given below, there are two statements marked as Assertion (A) and Reason (R). Read the Statements and choose the correct option:

Assertion (A) : The car manufacturing plant of Maruti Udyog Ltd in India produces cars for Indian markets.

Reason (R) : It also exports cars to other developing countries and exports car components for its many factories around the world.

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 8 The Company has manufacturing facilities in Gurgaon and Manesar in Haryana and a state of the art R&D centre in Rohtak, Haryana. The Company, formerly known as Maruti Udyog Limited, was incorporated as a joint venture between the Government of India and Suzuki Motor Corporation, Japan in February, 1981.
Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 9

Find the incorrect option:

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 9 Globalization has helped to improve the living conditions of the workers in developing countries by providing them better employment opportunities. This has helped the people to improve on their standards of living.
Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 10

Find the incorrect option:

Detailed Solution for Assertion & Reason Test: Globalization & the Indian Economy - 1 - Question 10 MNCs set up production worldwide where cheap labour is available, where markets are near, and where government policies look after their interests. Since the MNCs are producing as well as selling in many countries, they are interlinking the economies of these countries and thus speeding up globalization.
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