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Business Environment Test - 7

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Business Environment Test - 7
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Rapid integration between countries is known as  _____ .
    Solution
     Globalisation is the process of rapid integration or interconnection between countries.
    It integrates the country with other economies of the world through trade, capital flow and technology.
  • Question 2
    1 / -0
    Globalisation refers to
    Solution
    Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
  • Question 3
    1 / -0
    What is Globalisation?
    Solution

    Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

  • Question 4
    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 5
    1 / -0
    LPG stands for ___________.
    Solution
    Since 1991, Government of India has introduced diverse economic reforms to pull the country out of economic crisis and to accelerate the ratio of growth. These reforms are often described as the New Economic Policy or the policy of LPG.
    These reforms hinge upon:
    The policy of liberalisation ( L ) in place of Licensing for the industries and trade.
    The policy of privatisation (P) in place of quotas for the industrialists.
    The policy of globalisation (G) in place of Permits for export and import
  • Question 6
    1 / -0
    How can government of a country play a major role in making Globalization fairer?
    Solution
    Government policies and regulations have made Globalization fairer.
  • Question 7
    1 / -0
    Which term stands for opening the economy to the world by removing protective barriers against free flow of trade, technology and investment among countries?
    Solution
    If one wants to globalise, they have to allow liberalisation which involves removing protective trade barriers. One a country does that, you allow other countries to invest in your country which means foreign investment. Once a country invests in you a country can have better technology because it means one can export and import from any corner of the world. All this is nothing but globalisation.
  • Question 8
    1 / -0
    Due to globalisation, which of the following cannot move between countries?
    Solution
    Because of globalization more and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments, and technology, there is one more way in which the countries can be connected. 
    This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education.
  • Question 9
    1 / -0
    The first consumer movement started in England after the _____.
  • Question 10
    1 / -0
    Globalization means _____.
    Solution
    1:Globalisation is a worldwide movement towards economic, financial, trade, and communications integration.
    2:Globalisation implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. 
    3:However, it does not include unhindered movement of labour and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.
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