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Globalisation and the Indian Economy Test - 17

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Globalisation and the Indian Economy Test - 17
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which of the following is not a part of bulk imports to our country?
  • Question 2
    1 / -0
    A multinational is ___________________.
    Solution

    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.

  • Question 3
    1 / -0
    Which of the following is India's largest trading partner in the world?
    Solution
    India's largest trading partner in the world is China as India exports approximately 16.34 % of its total exports to China and import approximately 68.08 % of its total imports from China. Therefore the total trade that takes place between China and India comprises of approximately 84.4 % of India's overall trade which in highest with China. 
  • Question 4
    1 / -0
    Which of the following names/terms is not associated with the World Trade Organisation (WTO)?
    Solution
    UNCTAD stands for United nation conference on Trade and development. It is a UN body responsible for dealing with development issue particularly international trade. Its purpose is to promote Trade and development in the developing countries.
    GATS stands for general agreement on trade in service it is a first multilateral agreement covering trade in services. It is a treaty of WTO which entered into force in January 1995. All members of WTO are parties to the GATS.
    GATT- GATT stands for general agreement on trade and tariff. It was the national agency which has been replaced with World Trade organisation.
    Hence,  option D is correct.
  • Question 5
    1 / -0
    Where is the headquarters of World Trade Organisation?
    Solution
    The headquarters of the World Trade Organization (WTO) in Geneva, Switzerland. The WTO has many roles: it operates a global system of trade rules, it acts as a forum for negotiating trade agreements, it settles trade disputes between its members and it supports the needs of developing countries.
  • Question 6
    1 / -0
    Which of the following is an example of cashless buying?
    A. ATM withdrawal
    B. Credit Card
    C. Debit Card
    Solution
    Credit card and debit card are electronic generated card that acts as plastic money at the time of buying of goods and services. Debit card is used to withdraw money from your bank account at the time of payment for something and credit card is used to generate credit in the name of your bank account for the purpose of electronic payment.
  • Question 7
    1 / -0
    The benefit(s) of globalization is/are __________.
    Solution
    Globalization involves the various markets getting integrated across geographical boundaries. All the given alternatives are benefits associated with globalization.
  • Question 8
    1 / -0
    Globalization has affected ______ and ______. 
    Solution
    In a globalised world, cheaper imports have replaced the demand for domestic goods. Domestic manufacturers are facing competition from imports. Globalisation is, thus, often seen as creating conditions for the free movement of goods and services from foreign countries that adversely affect the local industries and employment opportunities in developing countries.
  • Question 9
    1 / -0
    A Financial Organisation (Bank) these days relies heavily on e-commerce for its transaction. As a part of system security, it has introduced the organisation's security awareness manual. This step of the organisation can be classified under which one of the following categories of measures for a business?
  • Question 10
    1 / -0
    Products of different countries are available in the markets of India, because of the process of _______.
    Solution
    Globalization is this process of rapid integration or interconnection between countries. Due to globalization more and more goods and services, investments and technology are moving between countries.
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