Introduction Test

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Introduction Test - 21

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following does not relate to the External Sector Reforms in 1991?

A
Reduction in the number of items covered by import licenses

B
Permission for free trade of all items except a negative list of imports and exports

C
Increasing of import/ export duty rates

D
Permission for foreign direct investment

Solution

Increasing of import/ export duty rates does not relate to the External Sector Reforms in 1991. As per New economic policy which was adopted in 1991, the import rates and export duty rates were to be decreased so that there would be fair flow of goods between the domestic country and other countries as a result of which there will be rationalization in the tariff structure,
Question 2
1 / -0

As a result of Economic Reforms, Re-structuring, Mergers & Acquisitions of Companies, Business Process Re-engineering, processes have been ___________.

A
Simplified

B
Made more procedural

C
Subject to Central Government approval in all situations

D
None of the above

Solution

As a result of Economic Reforms, Re-structuring, Mergers & Acquisitions of Companies, Business Process Re-engineering, processes have been simplified.
Economic reforms are taken by the Indian government, which emphasized LPG model- liberalization, privatization and globalization.
Positive impact of Economic Reforms on the Indian Economy are :-a)Improvement in work culture

b) Increase in quality and cost consciousness
c)Increase in Value-Added Exports.
Question 3
1 / -0

In which of the following situations, the Law of Variable Proportions will not apply?

A
Improvement in technology

B
When all factors are proportionately varied

C
Where the factors must be used in fixed proportions to yield the product

D
All of the above

Solution

In the following situations, the Law of Variable Proportions will not apply:
a) Improvement in technology
b) When all factors are proportionately varied c) Where the factors must be used in fixed proportions to yield the product
Law of variable proportions is also known as the law of law of diminishing returns. This law shows the production function with one input factor variable while keeping the other input factors constant.
Question 4
1 / -0

Which of the following is a positive impact of Economic Reforms on the Indian Economy?

A
Focus on Brand Building in an increasingly competitive market place

B
Shift from labour-intensive to capital-intensive methods of production

C
Stress on quality and R & D

D
All of the above

Solution

Positive impact of Economic Reforms on the Indian Economy are :-a)Focus on Brand Building in an increasingly competitive market place

b)Shift from labour intensive to capital-intensive methods of production
c)Stress on quality and R & D
Economic reforms are taken by the Indian government, which emphasized LPG model- liberalization, privatization and globalization.
Question 5
1 / -0

Lowering of Import / Export Duty Rates, as part of the External Sector Reforms in 1991, relates to -

A
Exchange Rate Stabilisation

B
Rationalisation of Tariff Structure

C
Quantitative Restrictions

D
Foreign Direct Investment

Solution

As a part of globalization, the import rates and export duty rates were to be decreased so that there would be fair flow of goods between the domestic country and other countries as a result of which there will be rationalization of tariff structure.
Question 6
1 / -0

In India, Support to Exporters is available in the form of:

A
Duty and Tax Concessions

B
Export Finance

C
Export Promotion Marketing Assistance

D
All of the above

Solution

In India, the exporters get a lot of benefit as they complete in the international market with the foreign goods. There is tax concessions on many exported items, exported items get a separate marketing assistance at national level and there is export financial inclusion for many exporting firms who needs them.
Question 7
1 / -0

All of the following institutions promote/assist Export Trade. Identify the institution which does not.

A
The Trade Fair Authority

B
Indian Institute of Management

C
The Indian Institute of Foreign Trade

D
Commodity Boards

Solution

The Indian Institutes of Management are a group of 20 public, autonomous institutes of management education and research in India. They primarily offer postgraduate, doctoral and executive education programs for the students career.
Question 8
1 / -0

Which of the following were abolished as part of the External Sector Reforms in 1991?

A
Cash Compensatory Scheme

B
EXIM Scrip Scheme

C
Both (a) and (b)

D
Neither (a) nor (b)

Solution

Cash compensatory scheme was a scheme where foreign cash was allowed to be compensated on various means in the domestic territory and EXIM scrip scheme was the export and import assistance bank set up in India in 1981. These both schemes were abolished as a part of new economic reform globalisation and its fair conduct.
Question 9
1 / -0

Equity Offer through 'Differential Pricing Method' primarily refers to ________________________.

A
Government selling part of its Shares in one PSU to other PSUs

B
Government selling Shares of PSUs to Public Sector Financial Institutions and Banks

C
Government's own Financial Institutions buying Government's stake in select PSU's and holding them until any third buyer emerges

D
None of the above

Solution

Differential pricing refers to different prices functional in the market based on various factors such as geography, external environment or various reasons. This implies that there is one product in the market, but, different people need to pay different prices for it.
Cross holding method of Disinvestment refers to Government selling part of its Shares in one PSU to other PSUs. The term disinvestment is more popularly used where central/ state government sells its holdings of public sector companies. Disinvestment means selling of Public investment to a Private entrepreneur.
The correct option is B.
Question 10
1 / -0

Cross holding method of Disinvestment refers to ____________________.

A
Government selling part of its Shares in one PSU to other PSUs

B
Government selling Shares of PSUs to Public Sector Financial Institutions & Banks

C
Government's own Financial Institutions buying Government's stake in select PSU's and holding them until any third buyer emerges

D
None of the above

Solution

Cross holding method of Disinvestment refers to Government selling part of its Shares in one PSU to other PSUs.The term disinvestment is more popularly used where central/ state government sells its holdings of public sector companies.Disinvestment means selling of Public investment to a Private entrepreneur.Disinvestment of the public sector can be defined as a process of transferring the ownership of any enterprise from public to private sector.

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Re-Attempt Weekly Quiz Competition

Introduction Test - 21

Result

Introduction Test - 21

Score

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Rank

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SHARING IS CARING

Question 1

Reduction in the number of items covered by import licenses

Permission for free trade of all items except a negative list of imports and exports

Increasing of import/ export duty rates

Permission for foreign direct investment

Solution

Question 2

Simplified

Made more procedural

Subject to Central Government approval in all situations

None of the above

Solution

Question 3

Improvement in technology

When all factors are proportionately varied

Where the factors must be used in fixed proportions to yield the product

All of the above

Solution

Question 4

Focus on Brand Building in an increasingly competitive market place

Shift from labour-intensive to capital-intensive methods of production

Stress on quality and R & D

All of the above

Solution

Question 5

Exchange Rate Stabilisation

Rationalisation of Tariff Structure

Quantitative Restrictions

Foreign Direct Investment

Solution

Question 6

Duty and Tax Concessions

Export Finance

Export Promotion Marketing Assistance

All of the above

Solution

Question 7

The Trade Fair Authority

Indian Institute of Management

The Indian Institute of Foreign Trade

Commodity Boards

Solution

Question 8

Cash Compensatory Scheme

EXIM Scrip Scheme

Both (a) and (b)

Neither (a) nor (b)

Solution

Question 9

Government selling part of its Shares in one PSU to other PSUs

Government selling Shares of PSUs to Public Sector Financial Institutions and Banks

Government's own Financial Institutions buying Government's stake in select PSU's and holding them until any third buyer emerges

None of the above

Solution

Question 10

Government selling part of its Shares in one PSU to other PSUs

Government selling Shares of PSUs to Public Sector Financial Institutions & Banks

Government's own Financial Institutions buying Government's stake in select PSU's and holding them until any third buyer emerges

None of the above

Solution

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