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Globalisation and the Indian Economy Test - 12

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Globalisation and the Indian Economy Test - 12
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Weekly Quiz Competition
  • Question 1
    1 / -0
    When were the Economic Liberalisation reforms initiated in India?
    Solution
    The strategy of reforms introduced in India in July 1991 presented a mixture of macroeconomic stabilization and structural adjustment. It was guided by short-term and long-term objectives. Stabilization was necessary in the short run to restore balance of payments equilibrium and to control inflation. At the same time changing the structure of institutions themselves through reforms was equally important from long term point of view. The new government moved urgently to implement a programme of macro-economic stabilization through fiscal correction. Besides this, structural reforms were initiated in the field of trade, industry and the public sector.
  • Question 2
    1 / -0
    'SAPTA' is related to _________.
    Solution

    The Agreement reflected the desire of the Member States to promote and sustain mutual trade and economic cooperation within the SAARC region through the exchange of concessions.

  • Question 3
    1 / -0
    Due to globalisation, which of the following cannot move between countries?
    Solution
    Because of globalization more and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments, and technology, there is one more way in which the countries can be connected. 
    This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education.
  • Question 4
    1 / -0
    Which of the following is not an outcome of globalisation ?
    Solution
    Several of the top Indian companies have been able to benefit from the increased competition. They have invested in newer technology and production methods and raised their production standards. Some have gained from successful collaborations with foreign companies. Employment opportunities have been created in many sectors of cell phones, automobiles, electronics, etc. Workers are denied their fair share of benefits brought about by globalisation.
  • Question 5
    1 / -0
    Some of the Indian MNC's are:
     (i)  INFOSYS
     (ii) Tata Motors
     (iii) Indian Railways 
     (iv) Ranbaxy
    Solution

    Infosys Limited is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. It is headquartered in Bangalore, Karnataka.

    Tata Motors Limited is an Indian multinational automotive manufacturing company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group. Its products include passenger cars, trucks, vans, coaches, buses, construction equipment and military vehicles. It is the world's 5th-largest motor vehicle manufacturing company, fourth-largest truck manufacturer, and second-largest bus manufacturer by volume.

    Ranbaxy Laboratories Limited is an Indian multinational pharmaceutical company that was incorporated in India in 1961. The company went public in 1973 and Japanese pharmaceutical company Daiichi Sankyo acquired a controlling share in 2008. In 2014, Sun Pharma acquired the entire 63.4% share of Ranbaxy making the conglomerate the world’s fifth largest specialty generic pharma company.

    The Indian railways is owned by the government of India. 

  • Question 6
    1 / -0
    Investments made by the multinational corporations are called _____ .
    Solution

    Investment made by MNCs is called foreign investment. Any investment is made with the hope that these assets will earn profits.

  • Question 7
    1 / -0
    One of the major factor that has influenced the globalisation process is ____ .
    Solution
    Rapid improvement in technology has been one major factor that has stimulated the globalisation process. For instance, the past fifty years have seen several improvements in transportation technology. This has made much faster delivery of goods across long distances possible at lower costs.
  • Question 8
    1 / -0
    Rapid integration between countries is known as  _____ .
    Solution
     Globalisation is the process of rapid integration or interconnection between countries.
    It integrates the country with other economies of the world through trade, capital flow and technology.
  • Question 9
    1 / -0
    The headquarter of WTO is located in_______ .
    Solution
    WTO is an institution which looks after the promotion of free and fair trade amongst nations. The headquarter of WTO is situated at Geneva in Switzerland.
  • Question 10
    1 / -0
    World Trade Organisation supports ____ .
    Solution
    1:World Trade Organisation (WTO) is one such organisation whose aim is to liberalize international trade.
    2:Started at the initiative of the developed countries, WTO establishes rules regarding international trade, and sees that these rules are obeyed. 
    3:World Trade Organisation supports free trade
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