Globalisation and the Indian Economy Test

Result

Globalisation and the Indian Economy Test - 29

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Weekly Quiz Competition

Question 1
1 / -0

What special step has been taken by the central and state goverenments to attract foreign companies in India?

A
SEZ s

B
EU

C
NPO

D
JSY

Solution

Industrial zones, called Special Economic Zones (SEZs), are being set up. SEZs are to have world-class facilities: electricity, water, roads, transport, storage, recreational and educational facilities.
Question 2
1 / -0

'SAPTA' is an agreement of trade among the SAARC Nations. The expansion of SAPTA is one of the following:

A
South Asian Protection of Trade Agreement

B
South Asian Partial Trade Agreement

C
South Asian Preferential Trade Agreement

D
South Asian Pacific Trade Agreement

Solution

It is a preferrential trade agreement among SAARC countries.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.
Abbreviation of SAPTA : South Asian Preferential Trade Arrangement
Question 3
1 / -0

India's maximum foreign exchange is spent on ___________.

A
import of foodgrains

B
import of iron and steel

C
import of petroleum products

D
import of technical know-how

Solution

The increase in petroleum consumption has been accompanied by a rapid rise in oil imports, with a subsequent negative impact on India's balance of payments. Today India spends nearly 75% of its export earnings to pay for crude oil. The history of the Indian oil industry has been one of continued attempts to reduce the impact of this oil import bill.
Question 4
1 / -0

Name a MNC dealing in medicine?

A
Ranbaxy

B
Infosys

C
Asian Paints

D
Tata Motors

Solution

Ranbaxy Laboratories Limited is an Indian multinational pharmaceutical company that was incorporated in India in 1961.
Question 5
1 / -0

Under Globalization, our agricultural products are not able to compete with the developed countries because of the ______________.

A
highly subsidized agriculture in those countries.

B
high quality products in these countries.

C
high export duties.

D
lack of awareness.

Solution

Under globalisation, particularly after 1990, the farmers in India have been exposed to new challenges. Despite being an important producer of rice, cotton, rubber, tea, coffee, jute and spices our agricultural products are not able to compete with the developed countries because of the highly subsidised agriculture in those countries.
Question 6
1 / -0

Looking at the past, we find that MNCs have been a major force in the process of Globalization since last ____________.

A
forty years

B
thirty years

C
fifty years

D
sixty years

Solution

If we look at the past thirty years or so, we find that MNC's have been a major force in the globalisation process connecting distant regions of the world.
Question 7
1 / -0

In the last decade, which one among the following sectors has attracted highest foreign direct investment inflows into India?

A
Chemicals (excluding fertilizers)

B
Services

C
Food processing

D
Telecommunication

Solution

India is currently the world’s second-largest telecommunications market and has registered strong growth in the past decade and half. The Indian mobile economy is growing rapidly and is expected to contribute substantially to India’s Gross Domestic Product (GDP).
Question 8
1 / -0

Globalisation does NOT involve which one of the following?

A
Rapid integration between countries

B
More goods and services moving between countries

C
Increased taxes on imports

D
Movement of people between countries for jobs, education etc

Solution

Tax on imports is an example of trade barrier. Once barriers are removed goods can be imported and exported easily and also foreign companies could set up factories and offices here. Removing barriers or restrictions set by the governments is what is known as liberalisation.
Question 9
1 / -0

Which of the following is the cause of the policy of Globalisation ?

A
Crisis in balance of payments

B
Crisis in exchange rate management

C
Crisis in public sector management

D
All of the above

Solution

In 1991, India met with an economic crisis, relating to its external debt- the government was not able to make repayments on its borrowings from abroad; foreign exchange reserves, which we generally maintain to import petrol and other important items, dropped to levels that were not sufficient for even a fortnight. The crisis was further compounded by rising prices of essential goods. All this led the government to introduce a new set of policy measures which changed the direction of our developmental strategies.
Question 10
1 / -0

Which is not the aim of Liberalisation and Globalisation?

A
More production at all levels

B
Increase in the trade of goods and services

C
Generating more employment opportunities

D
Increase in the subsidies to the poor and deprived sections of society

Solution

More production at all levels as raw materials can be obtained from any part of the world.
Globalisation means selling of goods in any part of the world. Many companies are opening their offices around the world because of which they ae earning more profits.
MNC's are generating more employment opportunities for people.

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Re-Attempt Weekly Quiz Competition

Globalisation and the Indian Economy Test - 29

Result

Globalisation and the Indian Economy Test - 29

Score

-

Rank

-

SHARING IS CARING

Question 1

SEZ s

EU

NPO

JSY

Solution

Question 2

South Asian Protection of Trade Agreement

South Asian Partial Trade Agreement

South Asian Preferential Trade Agreement

South Asian Pacific Trade Agreement

Solution

Question 3

import of foodgrains

import of iron and steel

import of petroleum products

import of technical know-how

Solution

Question 4

Ranbaxy

Infosys

Asian Paints

Tata Motors

Solution

Question 5

highly subsidized agriculture in those countries.

high quality products in these countries.

high export duties.

lack of awareness.

Solution

Question 6

forty years

thirty years

fifty years

sixty years

Solution

Question 7

Chemicals (excluding fertilizers)

Services

Food processing

Telecommunication

Solution

Question 8

Rapid integration between countries

More goods and services moving between countries

Increased taxes on imports

Movement of people between countries for jobs, education etc

Solution

Question 9

Crisis in balance of payments

Crisis in exchange rate management

Crisis in public sector management

All of the above

Solution

Question 10

More production at all levels

Increase in the trade of goods and services

Generating more employment opportunities

Increase in the subsidies to the poor and deprived sections of society

Solution

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