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Test: Globalization & the Indian Economy - 3


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15 Questions MCQ Test Social Studies (SST) Class 10 | Test: Globalization & the Indian Economy - 3

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

Tax on imports is an example of :

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 1

Any restriction imposed on the free flow of trade is a trade barrier. Trade barriers can either be tariff barriers (the levy of ordinary negotiated customs duties in accordance with Article II of the GATT) or non-tariff barriers, which are any trade barriers other than tariff barriers
Tax on imports is an example of Trade Barrier.

Test: Globalization & the Indian Economy - 3 - Question 2

MNCs do not increase ?

Test: Globalization & the Indian Economy - 3 - Question 3

Globalization was stimulated by ?

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 3

The following factors have stimulated the globalisation process.

1.Improvement in transportation: In the last fifty years, there have been a lot of improvements in transportation technology. This has made faster delivery of goods across long distances possible, at lower costs.
2.Development in information and communication technology: Technology in the areas of telecommunication and computers has been advancing rapidly.
3.Telecommunication: Telecommunication facilities like telephone, telegraph, mobiles, fax are used to connect people in the world. This has been made possible due to satellite communication devices.
4.Internet: Internet also allows us to send instant electronic mail (e-mail) and talk (voice mail) across the world at negligible cost. Even the payment of money from one bank to another can be made through e-banking.

Test: Globalization & the Indian Economy - 3 - Question 4

Small Scale industries face competition from ?

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 4

Since their production volume is small and cannot meet demand for large quantities their market is very restricted. Now with the process of liberalization and globalization they are facing competition from local industries as well as foreign competitors who sell better quality products at lower prices.

Test: Globalization & the Indian Economy - 3 - Question 5

SEZ stands for:

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 5

Special economic Zone

A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increased trade balance, employment, increased investment, job creation and effective administration.

Test: Globalization & the Indian Economy - 3 - Question 6

Investment made by MNCs is called ?

Test: Globalization & the Indian Economy - 3 - Question 7

This helps to create an opportunity for the producers to reach beyond the domestic market ?

Test: Globalization & the Indian Economy - 3 - Question 8

Liberalization does not include:

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 8

C is the correct option. Trade liberalization is the removal or reduction of restrictions or barriers, such as tariffs, ... These barriers include tariffs, such as duties and surcharges, and nontariff barriers, such as licensing rules and quotas. The Quota system was abolished by the Liberalisation.

Test: Globalization & the Indian Economy - 3 - Question 9

Process of integration of different countries is called ?

Test: Globalization & the Indian Economy - 3 - Question 10

Which one is false ? 

Test: Globalization & the Indian Economy - 3 - Question 11

Production of services across countries has been facilitated by :

Test: Globalization & the Indian Economy - 3 - Question 12

MNC stands for :

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 12

A multinational corporation (MNC) has facilities and other assets in at least one country other than its home country. A multinational company generally has offices and/or factories in different countries and a centralized head office where they coordinate global management.

Test: Globalization & the Indian Economy - 3 - Question 13

Foreign Trade :

Detailed Solution for Test: Globalization & the Indian Economy - 3 - Question 13

It benefits lower-income households by offering consumers more affordable goods and services. Integrating with the world economy through trade and global value chains helps drive economic growth and reduce poverty—locally and globally.

Test: Globalization & the Indian Economy - 3 - Question 14

Globalization is not supported by:

Test: Globalization & the Indian Economy - 3 - Question 15

WTO stands for :

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