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Globalisation and the Indian Economy Test - 27

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Globalisation and the Indian Economy Test - 27
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Weekly Quiz Competition
  • Question 1
    1 / -0
    In order to comply with TRIPS agreement, India exacted the Geographical Indications of goods (Registration and protection Act 1999.) The difference/differences between a "Trade Mark" and a 'Geographical Indicate' is/are:
    1. A trade mark is an individual or a company's right whereas a Geographical Indication is a community's right.
    2. A trade Mark can be licensed whereas a Geographical Indication can't be licensed.
    3. A Trade mark is assigned to the manufactured goods whereas the Geographical Indication is assigned to the agricultural goods/products and handicrafts only
    Which of the statements given above is/are correct?
  • Question 2
    1 / -0
    As per the UN-Habitat's Global Report on Human Settlement $$2009$$, which one among the following regions has shown the fastest growth rate of urbanization in the last three decades?
  • Question 3
    1 / -0
    WTO came into existence at the conclusion of which round of GATT?
    Solution
    WTO : It is Governmental organisation which regulates international trade. The WTO offcially commenced on 1 January 1995 under the Marrakesh agreement, signed by 123 nations on 15 April 1994, replacing the General agreement on tarrifs and trade.
  • Question 4
    1 / -0
    Which among the following has the least possibility of globalization?
  • Question 5
    1 / -0
    World Investment Report is published by which of the following?
    Solution
    World Investment Report is published by UNCTAD. It has been published annually since 1991. Each year's report covers the latest trends in foreign direct investment around the World and analysis in depth one selected topic related to foreign direct investment and development.
    World Economic Forum (WEF): The world economic forum is a Swiss non-profit foundation  cologny, based in Geneva.
    GATT : (General agreement on Tarrifs and trade) : It was a multilateral agreement regulating international trade GATT was signed by 23 nations in Geueva on Oct. 30, 1947 and took effect from January, 1948.
  • Question 6
    1 / -0
    In the context of bilateral trade negotiations between India and European Union, what is the difference between European commission and European Council?
    1. European Commission represents the EU in trade negotiations whereas European Council participates in the legislation of matter pertaining to economic policies of the European union.
    2. European commission comprises the heads of state or government council comprises the persons nominated by European parliament.
    Which of the statements given above is/are correct?
  • Question 7
    1 / -0
    As regards the use of international food safety standards as reference point for the dispute settlements, which one of the following does WTO collaborate with?
    Solution
    Collaboration between WTO and the Codex Alimentarius concerns the use of international food safety standard in the context of the SPS Agreement, World standard corporations : High level collaboration between the IEC, ISO and ITU.
    International Federation of Standard users : Founded in 1974. It is an independent, non profit, international association of national organisation for the application & standards.
  • Question 8
    1 / -0
    Which one of the following is the final session of the General Agreement on Tariff- and Trade (GATT)?
    Solution
    Uruguay session is the final session of the General Agreement on Tariffs and Trade (GATT). The Uruguay Round lasted from 1986-94. It was the most ambitious round to date, hoping to expand the competence of the GATT to important new areas such as services, capital, intellectual property, textiles, and agriculture. One of the most significant changes in the Uruguay round was the creation of the World Trade Organization (WTO).
  • Question 9
    1 / -0
    Factor endowment theory is also know as 
    1. Modern theory of international trade.
    2. Classical theory of international trade.
    3. Reciprocal demand theory.
    4. Factor proportions theory of international trade.
  • Question 10
    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. Multinational corporations are large companies with operations in several countries across the world. For example, Apple, Ford, Coca-Cola, Alphabet (Google) and Microsoft. 

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