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 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 2 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Ford Motors set up its first plant in India at A) Chennai. B) Mumbai. C) Kolkata. D) Delhi. Show Answer Correct Answer: A) Chennai. 2. What is one benefit of flexibility in labour laws for companies? A) Mandatory hiring of permanent staff. B) Higher wages for workers. C) Increased job security. D) Ability to negotiate wages. Show Answer Correct Answer: D) Ability to negotiate wages. 3. When did the government remove the barriers for investment and investment in India? A) 1950. B) 1991. C) 1999. D) 1990. Show Answer Correct Answer: B) 1991. 4. Tax on imports is an example of A) Terms of trade. B) Collateral. C) Trade barriers. D) None of the above. Show Answer Correct Answer: C) Trade barriers. 5. Which of the following is an example of Trade Barrier? A) Tax on Imports. B) Custom Duty. C) Transit Permits. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. Globalisation, by connecting countries, shall result in A) Lesser competition among producers. B) Greater competition among producers. C) No change in competition among producers. D) All of the above. Show Answer Correct Answer: B) Greater competition among producers. 7. What are the positive impact of Liberalisation? A) Increase in GDP. B) Increase in Production. C) Technological Advancement. D) Increase in foreign Investment. E) All of these. Show Answer Correct Answer: E) All of these. 8. Which one of the following is not characteristic of'Special Economic Zone'? A) They do not have to pay taxes for long period. B) Government has allowed flexibility in labour laws. C) They have world class facilities. D) They do not have to pay taxes for an initial period of five years. Show Answer Correct Answer: A) They do not have to pay taxes for long period. 9. International trade is an important part of globalisation because ..... A) It allows for countries to share technology and resources. B) It provides raw materials for countries to create products. C) It allows for countries to have trade partnerships with strengthens relationships between countries. D) All of the responses. Show Answer Correct Answer: D) All of the responses. 10. Globalisation is the ..... A) Process by which the world is becoming increasingly interconnected. B) Connection created by the United Nations. C) Connection created only by the internet. D) The process by which the world is becoming increasingly disconnected. Show Answer Correct Answer: A) Process by which the world is becoming increasingly interconnected. 11. Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment? A) World Health Organisation. B) International Labour Organisation. C) International Monetary Fund. D) World Trade Organisation. Show Answer Correct Answer: D) World Trade Organisation. 12. Which one of the following is not characteristic of' Special Economic Zone'? A) They do not have to pay taxes at all. B) Government has allowed flexibility in labour laws. C) They have world class facilities. D) Government allows flexibiilty of labour laws. Show Answer Correct Answer: A) They do not have to pay taxes at all. 13. A company that owns or controls production in more than one nation is called: A) Multinational corporation. B) Joint stock company. C) Global company. D) None of these. Show Answer Correct Answer: A) Multinational corporation. 14. Process of integration of different countries is called A) Liberalization. B) Privatization. C) Globalization. D) None of the above. Show Answer Correct Answer: C) Globalization. 15. Assertion(A):There are several goods and services that the society needs; however, the private sector does not produce all of them.Reason(R):Private sector is profit driven. 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. 16. Which Indian company was bought over by Cargill Foods-a large American MNC? A) Amul. B) Agro Tech Foods Ltd. C) Parakh Foods. D) Britannia. Show Answer Correct Answer: C) Parakh Foods. 17. Indian government felt the need for removing barriers on foreign trade and foreign investment in ..... A) 1992. B) 1991. C) 1990. D) 1993. Show Answer Correct Answer: B) 1991. 18. Ehich benefits enjoyed by a local company in a joint production with a MNC- A) Additional investment. B) Latest technology. C) International market. D) All of these. Show Answer Correct Answer: D) All of these. 19. Rapid integration or interconnection between countries is known as: A) Socialization. B) Liberalisation. C) Privatisation. D) Globalisation. Show Answer Correct Answer: D) Globalisation. 20. Infosys (IT) and TATA Motors (Automobile) are examples of Indian- A) Domestic Companies. B) Multi Sectoral Companies. C) Multinational Corporations (MNCs). D) Local Companies. Show Answer Correct Answer: C) Multinational Corporations (MNCs). 21. Small Scale industries face competition from A) Rising prices. B) Subsidy. C) Exports. D) Cheap imports. Show Answer Correct Answer: D) Cheap imports. 22. A ..... is a company that owns or controls production in more than one nation/country. A) Microsoft. B) Uni Lever. C) Reliance. D) MNC. Show Answer Correct Answer: D) MNC. 23. Globalization has led to a ..... variety of goods. A) Lesser. B) Smaller. C) Wider. D) Restricted. Show Answer Correct Answer: C) Wider. 24. ..... technology has played a major role in spreading out production of services across countries. A) Transport. B) Information and communication. C) All the above. D) None of the above. Show Answer Correct Answer: B) Information and communication. 25. What is one argument against globalisation? A) It enhances consumer choice. B) It promotes sustainable growth. C) It can lead to greater dependence on developed countries. D) It increases competition among producers. Show Answer Correct Answer: C) It can lead to greater dependence on developed countries. 26. Removing Barriers or restrictions from foreign trade is called Privatization of foreign Trade. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 27. What is an example of foreign trade integration? A) Local markets only selling domestic products. B) Consumers choosing between local and foreign goods. C) Reduction in the number of brands available. D) Increased isolation of economies. Show Answer Correct Answer: B) Consumers choosing between local and foreign goods. 28. What do MNCs often do to control production in other countries? A) Form partnerships with local firms. B) Ignore local regulations. C) Limit their market reach. D) Set up factories in high-cost areas. Show Answer Correct Answer: A) Form partnerships with local firms. 29. Cargill is the largest producer of edible oil in India with a capacity to make ..... million pouches daily A) 2. B) 1. C) 3. D) 5. Show Answer Correct Answer: D) 5. 30. Why do MNCs set up offices and factories in more than one nation? A) The cost of production is high and the MNCs can earn profit. B) The cost of production is low and the MNCs undergoes a loss. C) The cost of production is low and the MNCS can earn greater profit. D) The MNCs want to make their presence felt globally. Show Answer Correct Answer: C) The cost of production is low and the MNCS can earn greater profit. 31. Foreign trade connects the markets A) In the country. B) Among neighbouring countries. C) Between two countries. D) In different countries. Show Answer Correct Answer: D) In different countries. 32. Cargill Food's is the largest producer of which of the following in India? A) Edible oil. B) Garments. C) Medicines. D) Asian Paints. Show Answer Correct Answer: A) Edible oil. 33. Which country has affected the toy industry in India adversely? A) USA. B) China. C) Japan. D) Canada. Show Answer Correct Answer: B) China. 34. What is full form Of SEZ A) Security Expert Zone. B) Surrounding Extraordinary Zone. C) Secret Export Zone. D) Special Economic Zone. Show Answer Correct Answer: D) Special Economic Zone. 35. MNC is a company A) That owns or controls production in more than one nation. B) That owns or controls production in one nation. C) That owns or controls production outside the nation. D) All the above. Show Answer Correct Answer: A) That owns or controls production in more than one nation. 36. 'Increased job opportunities' is an impact of ..... A) Liberalisation. B) Industrialisation. C) Globalisation. D) Privatisation. Show Answer Correct Answer: C) Globalisation. 37. Which of the following industries have been hard hit by foreign competition? A) Vehicle industry. B) Leather industry. C) Cloth industry. D) Dairy products. Show Answer Correct Answer: D) Dairy products. 38. Which one of the following refers to investment? A) The money spent on religious ceremonies. B) The money spent on social customs. C) The money spent to buy assets such as land. D) The money spent on household goods. Show Answer Correct Answer: C) The money spent to buy assets such as land. 39. Integration of markets means A) Wider choice of goods. B) Operating beyond the domestic markets. C) Price of the product tend to become equal. D) All the above. Show Answer Correct Answer: D) All the above. 40. What are the advantages of globalisation? A) Improvement in technology. B) Competition among producers. C) Creation of new job opportunities. D) Availability of international market. E) All of these. Show Answer Correct Answer: E) All of these. 41. Fisheries is an example of ..... A) Primary Industry. B) Tertiary Industry. C) Quaternary Industry. D) Secondary Industry. Show Answer Correct Answer: A) Primary Industry. 42. Large companies that have their presence in more than on country are called ..... A) Large National Companies. B) Multi National Corporations. C) Multi International Companies. D) None of the above. Show Answer Correct Answer: B) Multi National Corporations. 43. In developing countries like Nepal and Nigeria, which sector do most people work in? A) Primary Sector. B) Tertiary Sector. C) Secondary Sector. D) Quaternary. Show Answer Correct Answer: A) Primary Sector. 44. In developed countries like the USA and Australia, which sector do most people work in? A) Quaternary. B) Secondary Sector. C) Primary Sector. D) Tertiary Sector. Show Answer Correct Answer: D) Tertiary Sector. 45. The main objective of World Trade Organisation is to ..... A) No restrictions on import or export. B) Allow meeting of producers and consumers. C) Create environment suitable for trade. D) None of the above. Show Answer Correct Answer: A) No restrictions on import or export. 46. What has been a negative impact of globalisation in India? A) Greater consumer choice. B) Widening income inequalities. C) Improved quality of goods. D) Increased job opportunities. Show Answer Correct Answer: B) Widening income inequalities. 47. Which of the following is a 'barrier' on foreign trade? A) Sales tax. B) Quality control. C) Tax on local trade. D) Tax on import. Show Answer Correct Answer: D) Tax on import. 48. In which year Indian Government announced New Economic Policy (NEP) A) 2011. B) 1981. C) 2001. D) 1991. Show Answer Correct Answer: D) 1991. 49. Cargill Foods, an MNC has bought over which indigenous Indian company? A) Amul. B) Foods pairs. C) Britannia. D) Dabur. Show Answer Correct Answer: B) Foods pairs. 50. What is happening with the import of Chinese toys in India? A) Indian toys are selling more. B) Indian consumers are buying less. C) Indian consumers are getting more choice at cheaper rates. D) Chinese consumers are falling short of choice. Show Answer Correct Answer: C) Indian consumers are getting more choice at cheaper rates. 51. What has increased in India due to globalisation? A) Reduction in trade volume. B) Decreased foreign investment. C) Limited access to foreign goods. D) Greater choice of goods for consumers. Show Answer Correct Answer: D) Greater choice of goods for consumers. 52. Globalisation has been of advantage to A) All the people. B) The poorer section of the society. C) The richer section of the society. D) None of the above. Show Answer Correct Answer: C) The richer section of the society. 53. Cotton cultivation falls under ..... sector. A) Primary. B) Tertiary. C) Government. D) Service sector. Show Answer Correct Answer: A) Primary. 54. The main aim of World Trade Organisation is ..... A) To liberalise international trade. B) To increase the unity between the countries. C) To increase the export. D) To increase the import. Show Answer Correct Answer: A) To liberalise international trade. 55. Heavy Tax on imports is an example of: A) Collateral. B) Terms of Trade. C) Trade Barriers. D) ForeignTrade. Show Answer Correct Answer: C) Trade Barriers. 56. The most common way to control production by MNCs is A) Set up production with the local company. B) Buy the local company. C) Place order for production with small producers. D) Compete with the local company. Show Answer Correct Answer: B) Buy the local company. 57. In 1991 Government of India adopted New Economic Policy and remove barriers on foreign trade and investment. A) False. B) True. C) None of these. D) None of the above. Show Answer Correct Answer: B) True. 58. Which one of the following is not true regarding the World Trade Organisation? A) Its aim is to liberalise international trade. B) WTO rules have forced the developing countries to remove trade barriers. C) It establishes rules regarding international trade. D) It allows free trade to all countries without any trade barriers. Show Answer Correct Answer: D) It allows free trade to all countries without any trade barriers. 59. GDP is the sum total of the value of ..... produced during a particular year. A) All goods and services. B) All final goods and services. C) All intermediate goods and services. D) All final and intermediate goods and services. Show Answer Correct Answer: B) All final goods and services. 60. The main reason behind MNCs investments are A) To benefit foreign countries. B) To provide financial support to the country's government. C) For the welfare of underprivileged people. D) To increase the assets and earn profits. Show Answer Correct Answer: D) To increase the assets and earn profits. ← PreviousNext →Related QuizzesEconomics QuizzesClass 10 QuizzesClass 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 1Class 10 Economics Chapter 4 Globalisation And The Indian Economy Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books