Worksheet: Liberalisation, Privatisation and Globalisation : An Appraisal - 2 | Economics Class 12 - Commerce PDF Download

Multiple Choice Questions

Q2: Which of the following is NOT a feature of liberalisation in India?
(a) Reduction of trade barriers
(b) Opening up of economy to foreign investment
(c) Expansion of public sector enterprises
(d) Deregulation of industrial sector

Q3: Which international organisation played a significant role in India's globalisation process?
(a) World Trade Organization (WTO)
(b) International Monetary Fund (IMF)
(c) United Nations (UN)
(d) World Health Organization (WHO)

Q4: What was the primary objective of privatisation in India?
(a) Reducing government control in business
(b) Increasing government expenditure
(c) Strengthening public sector enterprises
(d) Promoting monopoly in the market

Q5: Which sector witnessed significant growth due to globalisation in India?
(a) Cottage and Small-Scale Industries
(b) Agricultural Sector
(c) Information Technology and Services
(d) Traditional Handicrafts

True and False

Q1: Liberalisation in India aimed at reducing government intervention in economic activities.

Q2: Privatisation refers to the process of transferring ownership of state-owned enterprises to private individuals or companies.

Q3: Globalisation leads to the homogenization of cultures and traditions across the world.

Q4: The introduction of LPG reforms in India led to a decrease in foreign direct investment.

Q5: The concept of globalisation only applies to the economic domain and does not affect social and cultural aspects.

Match the Following

Q2: Match the following organizations with their roles in economic reforms:

Q3: Match the sector with its growth due to liberalisation:

Very Short Answers

Q1: State one objective of liberalisation in India.

Q2: Name any two sectors that were adversely affected by globalisation in India.

Q3: What is the role of SEBI in the stock market?

Q4: Provide one advantage of privatisation in India.

Q5: Briefly explain the concept of 'tariff liberalisation.'

Short Answers

Q1: Explain the impact of globalisation on the Indian agricultural sector.

Q2: Discuss any two challenges faced by the Indian economy during the liberalisation period.

Q3: How does liberalisation promote foreign direct investment (FDI) in India?

Q4: Describe the role of technology in the process of globalisation.

Q5: What measures can the government take to mitigate the adverse effects of liberalisation on small-scale industries?

Long Answers

Q1: Discuss the role of the World Trade Organization (WTO) in global trade and its influence on the Indian economy.

Q2: Explain the concept of privatisation in detail, highlighting its objectives and benefits.

Q3: Analyze the impact of liberalisation on employment generation in India.

Q4: Evaluate the challenges and opportunities faced by the Indian service sector due to globalisation.

Q5: Elaborate on the role of regulatory authorities like TRAI and SEBI in ensuring fair practices in the telecommunications and stock market sectors respectively.