Practice Test- Class10-Economics-Chapter 4 : Globalisation and the Indian Economy

Welcome to your ncert-class10-economics-Chapter 4: Globalisation and the Indian Economy

Liberalization of trade means government has removed the tariff, subsidies and other restrictions on the flow of goods and services between _________.

cities

countries

continents

states

None

Which one of the following is a basic function of foreign trade?

all of these

It gives opportunity for the reduction to reach beyond the domestic market

It furnishes trade in the domestic market

Goods and services are produced for internal market

None

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?

1, 2 and 3

1 only

1 and 2 only

2 and 3 only

None

The 'Backwash Effect' was first introduced by ___________.

Kindelberger

Peter Suderland

Arthur Dunkel

Gunnar Myrdal

None

Which is not the aim of Liberalisation and Globalisation

Increase in the trade of goods and services

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

More production at all levels

Generating more employment opportunities

None

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

highly subsidized agriculture in those countries.

high export duties.

high quality products in these countries.

lack of awareness.

None

'Structural reform measures' was one of the two categories of measures announced by the Government to be taken under the process of economic reforms in India. These measures deal with-

1. redefining the role of state in the economy

2. attempting higher participation of private capital - Indian and foreign

3. Increasing aggregate supply in the economy.

Select the answer using the code given below.

1,2 and 3

2 and 3

1 and 3

1 and 2

None

Globalisation of the Indian economy has not adversely impacted ____ .

small traders

workers in the unorganised sector

workers in small scale manufacturing units

workers in call centres

None

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

Food processing

Chemicals (excluding fertilizers)

Services

Telecommunication

None

10.

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?

World Standard Cooperation

International Organization for Standardization

Codex Alimentarius Commission

International federation of Standards Users

None

11.

Which of the following can be considered as Foreign Direct Investment made in India?

A. The TATAs acquire Corus steel plant abroad.

B. Mr. Donald, an American citizen, acquires 100 shares of an Indian listed company.

C. The remittances sent by an Indian doctor in Dubai back to his hometown in Kerala.

D. The US multinational Google opens its fullfledged unit at Gurgaon, Haryana.

(A) and (B)

(A) and (D)

(B) and (C)

(D) only

None

12.

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?

Both 1 and 2

2 only

1 only

Neither 1 nor 2

None

13.

Duty Drawback Scheme is a normal export incentive given by all economies and is allowed under the trade provisions of the WTO. What is the rationale behind it?

Indirect taxes of the economies should not be allowed to get exported

This is a declared bias in the provisions of the WTO and was among the reasons why the Doha Round of its talks got stuck

As exporters earn precious foreign exchange for their economies

As different economies specialise in different products, this equalises their differential effects on the world trade

None

14.

As per the UN-Habitat's Global Report on Human Settlement

2009

2009, which one among the following regions has shown the fastest growth rate of urbanization in the last three decades?

Asia

North America

Europe

Latin America and Caribbean

None

15.

Economic reforms of 1991 included:

(l)Reduction in taxes and quotes to allow free trade between countries

(II) 100% FDI in single brand retail

(III) Privatization of state -owned corporations.

Select the statements above which are true

Only I and III

Only i

I, II, III

Only II and III

None

16.

Following are the features of a MNC. Identify which are correct.

(i) They are of giant sizes and their wealth is enormous.

(ii) They conduct international operations.

(iii) They have enormous influence on the government policies.

(iv) They operate in countries where the cost of production is cheap and markets of finished products are close by.

(i), (ii) and (iii) only

All are correct

(i) and (ii) only

(i), (ii) and (iv) only.

None

17.

Globalization means integration of ____________.

domestic trade with the world trade

domestic economy with world economy

one domestic enterprise with international enterprises

one domestic enterprise with another domestic enterprises

None

18.

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.

1 and 4

3 and 4

2 and 3

1 and 2

None

19.

What is correct about the 'Core Investment Companies' a term which in news recently ?

Those foreign investment in share which are above Rs.1,000 crore at a time.

The foreign financial investors (FFIs), which eye the biggest portion of the company's stake while doing Institutional Investments.

The Non banking Finance Companies, which invest in share for the purpose of owning a stake in a company, rather than for trading.

All foreign investments ins shares, which are made in the 'Core Industries'.

None

20.

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

South Asian Partial Trade Agreement

South Asian Preferential Trade Agreement

South Asian Protection of Trade Agreement

South Asian Pacific Trade Agreement

None

Chapter 1 : Development

Chapter 2 : SECTORS OF THE INDIAN ECONOMY

Chapter : 3 :Money and Credit

Chapter 4 : Globalisation and the Indian Economy

Curriculum

Ncert Cbse Class 10- Economics - Economic Development

Chapter 1 : Development

Chapter 2 : SECTORS OF THE INDIAN ECONOMY

Chapter : 3 :Money and Credit

Chapter 4 : Globalisation and the Indian Economy

Practice Test- Class10-Economics-Chapter 4 : Globalisation and the Indian Economy