This quiz works best with JavaScript enabled. Home > Cbse > Class 10 > Economics > Globalisation And The Indian Economy > Class 10 Economics Chapter 4 Globalisation And The Indian Economy – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A SECONDARY Industry is ..... A) An industry that converts raw materials into commodities and products for the consumer. B) An industry that is concerned with obtaining or providing natural raw materials. C) An industry that is concerned with the provision of services. D) An industry concerned with providing information services. Show Answer Correct Answer: A) An industry that converts raw materials into commodities and products for the consumer. 2. SEZ may prove harmful to the farmers whose lands have been acquired and to the small producers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 3. The most common route for investments by MNCs in countries around the world is to A) Set up new factories. B) Buy existing local companies. C) Form partnerships with local companies. D) None of the above. Show Answer Correct Answer: B) Buy existing local companies. 4. SEZs are related from- A) Defence Equipment. B) Export Promotion. C) Education Promotion. D) Health Infrastructure. Show Answer Correct Answer: B) Export Promotion. 5. Entry of MNCs in a domestic market may prove harmful for A) All large scale producers. B) All domestic producers. C) All substandard domestic producers. D) All small-scale producers. Show Answer Correct Answer: D) All small-scale producers. 6. Ford Motors entered the Indian automobile business in collaboration with which Indian manufacturer? A) Mahindra and Mahindra. B) Tata Motors. C) Maruti Suzuki. D) Hindustan Motors. Show Answer Correct Answer: A) Mahindra and Mahindra. 7. In which year did the government decide to remove barriers on foreign trade and investment in India? A) 1991. B) 1980. C) 1999. D) 1990. Show Answer Correct Answer: A) 1991. 8. Removing barriers or restrictions set by the government is what is known as ..... A) Liberalisation. B) Globalisation. C) Socialisation. D) None of the above. Show Answer Correct Answer: A) Liberalisation. 9. Globalization was stimulated by A) Transportation. B) Computers. C) Money. D) Population. Show Answer Correct Answer: A) Transportation. 10. Which among the following are factors that enabled globalisation? A) Improvement in transport technology. B) Development of information and communication technology. C) Liberalisation. D) All of the above. Show Answer Correct Answer: D) All of the above. 11. A PRIMARY Industry is ..... A) An industry that converts raw materials into commodities and products for the consumer. B) An industry that is concerned with obtaining or providing natural raw materials. C) An industry that is concerned with the provision of services. D) An industry concerned with providing information services. Show Answer Correct Answer: B) An industry that is concerned with obtaining or providing natural raw materials. 12. The process of rapid integration or interconnection between countries through free trade, free mobility of capital and labour is called A) Privatisation. B) Liberalisation. C) Foreign trade. D) Globalisation. Show Answer Correct Answer: D) Globalisation. 13. Assertion(A):Leela works five days a week, receives her income on the last day of each month and gets medical facilities from her firm.Reason(R):Leela is working in the organized sector. A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true and R is not the correct explanation of A. C) Assertion is true, but reason is false. D) Assertion is false, but reason is true. Show Answer Correct Answer: A) Both A and R are true and R is the correct explanation of A. 14. To get large orders, Indian exporters try hard to cut their own costs by A) Reducing cost of raw materials. B) Reducing electricity cost. C) Cutting labour cost. D) All of the above. Show Answer Correct Answer: C) Cutting labour cost. 15. What do developed countries seek from developing countries regarding trade? A) To limit foreign competition. B) To increase tariffs on imports. C) To liberalise trade and investment. D) To restrict foreign investment. Show Answer Correct Answer: C) To liberalise trade and investment. 16. Globalization has largely favored the rich, highly educated and skilled persons of the society. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 17. The past two decades of globalisation has seen rapid movements in: A) Goods, services and people between countries. B) Goods, services and investments between countries. C) Goods, services, investments and people between countries. D) None of these. Show Answer Correct Answer: C) Goods, services, investments and people between countries. 18. What attracts MNC's? A) Cheap labbour. B) Ready demand for the product. C) Both (a) and (b). D) None of the above. Show Answer Correct Answer: C) Both (a) and (b). 19. MNCs bring with them the latest technology and Investment for production. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 20. A TERTIARY Industry is ..... A) An industry that converts raw materials into commodities and products for the consumer. B) An industry that is concerned with obtaining or providing natural raw materials. C) An industry that is concerned with the provision of services. D) An industry concerned with providing information services. Show Answer Correct Answer: C) An industry that is concerned with the provision of services. 21. Removing barriers or restrictions set by the government is known as A) Globalisation. B) Privatisation. C) Liberalisation. D) None of the above. Show Answer Correct Answer: C) Liberalisation. 22. 'The impact of Globalisation has not been fair.' Who among the following people have not benefitted from globalisation? A) Well off consumers. B) Skilled and educated producers. C) Small producers and workers. D) Large wealthy producers. Show Answer Correct Answer: C) Small producers and workers. 23. Special Economic Zones (SEZs) are being set up to attract A) Foreign investment. B) Foreign goods. C) Foreign tourists. D) Foreign policies. Show Answer Correct Answer: A) Foreign investment. 24. A commodity, article or service brought in from abroad for sale is known as ..... A) Export. B) Import. C) All the above. D) None of the above. Show Answer Correct Answer: B) Import. 25. ..... refers to exchange of goods, i.e., purchase and sale, across geographical boundaries of the countries. A) Foreign trade. B) Local trade. C) State trade. D) Trade. Show Answer Correct Answer: A) Foreign trade. 26. Globalisation has led to higher standards of living of: A) Well-off consumers. B) Poor consumers. C) Big producers. D) Small producers. Show Answer Correct Answer: A) Well-off consumers. 27. World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries? A) Developed. B) Under Developed. C) Poor. D) Developing. Show Answer Correct Answer: A) Developed. 28. A furniture factory is an example of ..... A) Quaternary Industry. B) Primary Industry. C) Tertiary Industry. D) Secondary Industry. Show Answer Correct Answer: D) Secondary Industry. 29. Chinese are exporting electrical goods and other consumer goods in the Indian market in a big way. It is posing problems for India and Indian manufacturer. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 30. Deregulation of Industries' is a feature of economic reforms introduced in 1991 in India. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 31. Investments made by MNCs are termed as: A) Indigenous investment. B) Foreign investment. C) Entrepreneur's investment. D) None of the above. Show Answer Correct Answer: B) Foreign investment. 32. MNCs bring advanced technologies and modern managerial skills and thus help in technological up-gradation of the companies of developing countries. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 33. If tax is imposed on Chinese toys, what will happen? A) Chinese toy-makers will benefit. B) Chinese toys will remain cheap. C) Indian consumers will buy more Chinese toys. D) Indian toy-makers will prosper. Show Answer Correct Answer: D) Indian toy-makers will prosper. 34. Rapid integration and connection between countries is known as A) Investment. B) Globalisation. C) Interrelation. D) Liberalisation. Show Answer Correct Answer: B) Globalisation. 35. What is a potential future benefit of globalisation? A) Decreased competition. B) Improved production efficiency. C) Lower living standards. D) Reduced access to information. Show Answer Correct Answer: B) Improved production efficiency. 36. Removing barriers or restrictions set by the government is called- A) Investment. B) Liberalisation. C) Favourable Trade. D) Free Trade. Show Answer Correct Answer: B) Liberalisation. 37. It refers to the globalisation which creates opportunities for all and ensures that its benefits are better shared. A) World Trade Organisation (WTO). B) Special Economic Zones (SEZs). C) Fair globalisation. D) Privatisation. Show Answer Correct Answer: C) Fair globalisation. 38. Globalisation has led to improvement in living conditions- A) Of all the people. B) Of people in the developed countries. C) Of workers in the developing countries. D) None of the above. Show Answer Correct Answer: C) Of workers in the developing countries. 39. Which one of the following Indian industries has been hit hard by globalisation? A) Information Technology (IT). B) Toy making. C) Jute. D) Cement. Show Answer Correct Answer: B) Toy making. 40. Which of the following is not a feature of a Multi-National Company? A) It owns/controls production in more than one nation. B) It employs labour only from its own country. C) It organises production in complex ways. D) It sets up factories where it is close to the markets. Show Answer Correct Answer: B) It employs labour only from its own country. 41. What is one of the demands of developing countries in return for liberalisation? A) Complete removal of trade barriers. B) Isolation from global markets. C) Increased tariffs on imports. D) Fair trade practices. Show Answer Correct Answer: D) Fair trade practices. 42. Investment made by MNCs is called A) Investment. B) Foreign Trade. C) Foreign Investment. D) None of the above. Show Answer Correct Answer: C) Foreign Investment. 43. Liberalization does not include A) Disinvestment. B) Liberal policies. C) Introducing quota system. D) Removing trade barriers. Show Answer Correct Answer: C) Introducing quota system. 44. Globalisation is created by ..... A) Multinational Companies. B) Sharing of knowledge and technologies. C) Music and film. D) All of the responses. Show Answer Correct Answer: D) All of the responses. 45. Investment made by MNCs are termed as- A) Indigenous Investment. B) Foreign Investment. C) Entrepreneurial Investment. D) None of These. Show Answer Correct Answer: B) Foreign Investment. 46. Selling of goods to any other country is called ..... A) Export. B) Import. C) Collateral. D) None of the above. Show Answer Correct Answer: A) Export. 47. Which of the following examples does not fall under unorganized sector? A) A farmer irrigating his field. B) A daily wage labourer working for a contractor. C) A doctor in a hospital treating a patient. D) A handloom weaver working on a loom in her house. Show Answer Correct Answer: C) A doctor in a hospital treating a patient. 48. Globalisation by connecting countries leads to: A) Lesser competition among producers. B) Greater competition among producers. C) No competition between producers. D) None of these. Show Answer Correct Answer: B) Greater competition among producers. 49. Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of: A) 5 years. B) 2 years. C) 4 years. D) 10 years. Show Answer Correct Answer: A) 5 years. 50. Where do MNCs choose to set up production? A) Cheap goods. B) Cheap labour resources. C) Economic sustainability. D) None of these. Show Answer Correct Answer: B) Cheap labour resources. 51. How do big private companies contribute in the development of a nation? A) By increasing the demands for their products through advertisements. B) By increasing their profits. C) By increasing productivity of the country in the manufacturing of industrial goods. D) By providing private hospital facilities for the rich. Show Answer Correct Answer: C) By increasing productivity of the country in the manufacturing of industrial goods. 52. What was the main channel connecting countries in the past? A) Technology. B) Labour. C) Religion. D) Trade. Show Answer Correct Answer: D) Trade. 53. An MNC is a company that owns or controls production in A) Only developing countries. B) More than one country. C) One country. D) Only developed countries. Show Answer Correct Answer: B) More than one country. 54. How do MNCs typically set up production in other countries? A) By only exporting goods. B) By ignoring local laws. C) By forming partnerships with local companies. D) By avoiding local markets. Show Answer Correct Answer: C) By forming partnerships with local companies. 55. Indian Government put barrier to foreign trade and investment after independence to save domestic producers. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 56. What is a characteristic of the impact of globalisation? A) Equal advantages for all producers. B) Benefits primarily for skilled individuals. C) Uniform benefits across all sectors. D) Decreased consumer choices. Show Answer Correct Answer: B) Benefits primarily for skilled individuals. 57. What is the main motive behind the investment of MNCs? A) The main motive is to increase their assets and earn profit. B) The main motive is the welfare of the poor people. C) The main motive of an MNC is is to offer financial support to the Government of their country. D) The main motive is to benefit foreign countries. Show Answer Correct Answer: A) The main motive is to increase their assets and earn profit. 58. Production of services across countries has been facilitated by A) Money. B) Machine. C) Labour. D) Information and communication technology. Show Answer Correct Answer: D) Information and communication technology. 59. When goods travel from one market to another, the prices of similar goods in the two marketstend to become- A) Expensive. B) Cheap. C) Equal. D) All of the above. Show Answer Correct Answer: C) Equal. 60. "MNCs keep in mind certain factors before setting up production" . Identify the incorrect option from the choices given below A) Proximity to markets. B) Availability of cheap skilled and unskilled labour. C) Favourable government policies. D) Presence of a large number of local competitors. Show Answer Correct Answer: D) Presence of a large number of local competitors. Next →Related QuizzesEconomics QuizzesClass 10 QuizzesClass 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 2Class 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books