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Economics Chapter – 4 Globalization and the Indian Economy Extra Practice Questions

Economics Chapter – 4 Globalization and the Indian Economy
Extra Practice Questions
 Multiple choice questions:-
 1. MNC stands for:-
 (i) Multinational Corporation (ii) Multi nation Corporation (iii) Multinational Cities (iv)           Multinational Council
2. Investment made by MNCs is called:-
(i) Investment (ii) Foreign Trade (iii) Foreign Investment (iv) Disinvestment
3. Process of integration of different countries is called:-
(i) Liberalisation (ii) Privatisation (iii) Globalisation (iv) None of the above
4. MNCs do not increase Learn Digital from Google –
. (i) Competition (ii) Price war (iii) Quality (iv) None of the above
5. This helps to create an opportunity for the producers to reach beyond the domestic market
 (i) Foreign trade (ii) Domestic trade (iii) Internal trade (iv)Trade barrier
 6. Foreign Trade:-
(i) Increases choice of goods (ii) Decreases prices of goods (iii) Increases competition in the market (iv) Decreases earnings
7. Globalisation was stimulated by:-
 (i) Money (ii) Transportation (iii) Population (iv) Computers
8. Production of services across countries has been facilitated by :-
(i) Money (ii) Machine (iii) Labour (iv) Information and communication technology
9. Tax on imports is an example of :-
(i) Investment (ii) Disinvestment (iii) Trade barrier (iv) Privatisation
10. Liberalisation does not include
(i) Removing trade barriers (ii) Liberal policies (iii) Introducing quota system (iv) Disinvestment
2. SHORT TYPE QUESTION ANSWERS
Q.1 Write four functions of WTO.
Q.2 What is the impact of WTO on Indian economy?
Q.3 What is trade barrier? How governments can use trade barriers?
 Q.4What is privatization and liberalization?
Q.5How MNCs can spread their production?
Q.6 Mention three factors responsible for globalization.
3. LONG TYPE QUESTION ANSWERS:-
Q.1What do you mean by Globalization? What are the effects of globalization in India?
 Q.2 What is WTO? What are the aims of WTO? What are the drawbacks of WTO?
Q.3 What are MNCs? How the MNCs functions? What are the main guiding factors of MNCs?

Q.4 What are the ways through which MNCs spread their production and interact with local producers? 

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