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Globalisation and the Indian Economy Test - 14

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Globalisation and the Indian Economy Test - 14
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Weekly Quiz Competition
  • Question 1
    1 / -0
    What is the the full form of SEBI?
    Solution
    The Securities and Exchange Board of India (SEBI) ) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992. 
  • Question 2
    1 / -0
    In order to protect local consumers, the government imposes restrictions on _________.
  • Question 3
    1 / -0
    Chinese toys have become popular in India because ___________.
    Solution

     Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets.

  • Question 4
    1 / -0
    Which sector has benefited least because of globalization in India?
    Solution
    It should be noted that under the cumbersome provisions of GATT (General Agreement for Tariff and Trade) India could not open up its agriculture sector for international trade. India’s exports were mainly confined to traditional items like spices, tea, coffee etc., which were having very low demand elasticity in the international market.
  • Question 5
    1 / -0
    We import a few items which are must for our economic development. They are __________.
  • Question 6
    1 / -0
    Globalisation leads to _____.
    Solution
    Globalization refers to the integration of markets in the global economy. Markets where globalization is particularly common include financial markets, such as capital markets, money and credit markets, and insurance markets, commodity markets, such as markets for oil, coffee, tin, and gold, and product markets, such as markets for motor vehicles and consumer electronics.
  • Question 7
    1 / -0
    Under the policy of liberalisation, industrial licensing has been abolished except ___________.
  • Question 8
    1 / -0
    When did Ford Motors company re-enter Indian market?
    Solution
    Ford Motors re-entered Indian markets in 1995 and spent Rs. 1700 crore to set up a large plant near Chennai. This was done in collaboration with Mahindra and Mahindra, a major Indian manufacturer of jeeps and trucks. 
  • Question 9
    1 / -0
    The head office of WTO is located in ___
    Solution
    The World Trade Organization  Ministerial Conference of 1998, in the Palace of Nations (Geneva, Switzerland). The highest decision-making body of the WTO is the Ministerial Conference, which usually meets every two years.effect
  • Question 10
    1 / -0
    Before independence, India's foreign trade was confined to _____.
    Solution
    Prior to Independence, India's foreign trade was mainly confined to Britain. But now the table have turned. At present, India has maximum imports from and exports to European Union, Role of Japan, U.S.S.R., USA and Organisation of Petroleum Exporting Countries (OPEC) in  India's foreign trade has increased substantially.
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