This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 1 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... are playing a major role in the globalisation process. A) Government. B) MNCs. C) PSU's. D) None of the above. Show Answer Correct Answer: B) MNCs. 2. Which factor might attract a multinational corporation to a country? A) Good tourist attractions. B) Cheap raw materials. C) High average monthly wage. D) None of the above. Show Answer Correct Answer: B) Cheap raw materials. 3. Increasing interdependence of nations and peoples across the globe. A) Infrastructure. B) Globalization. C) Interdependence. D) Specialization. Show Answer Correct Answer: B) Globalization. 4. Why there was a need for economic reforms in India? A) Due to fiscal deficit. B) Due to adverse BOP. C) Rise in prices. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. W.T.O. was started at the initiative of which one of the following group of countries? A) Poor countries. B) Developed countries. C) Developing countries. D) All of the above. Show Answer Correct Answer: B) Developed countries. 6. Liberalisation refers to A) Freeing the economy from direct control. B) Putting an end to various restrictions. C) Opening up the economy. D) All the above. Show Answer Correct Answer: D) All the above. 7. The World Trade Organisation was established in which of the following years? A) 1795. B) 1885. C) 1945. D) 1995. Show Answer Correct Answer: D) 1995. 8. What kind of countries create the most trade? A) Poor countries. B) Countries linked to the USA. C) Rich countries. D) Countries in the EU. Show Answer Correct Answer: C) Rich countries. 9. Liberalisation of the economy under the new economic policy changed the role of RBI inthe economy: A) From a 'regulator' to 'facilitator' of the financial sector. B) From a 'controller' to 'manager' of the government debt. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: A) From a 'regulator' to 'facilitator' of the financial sector. 10. Which of the following is NOT a feature of the World Bank A) Promotes economic development. B) Is broken up between the IBRD and IDA. C) Oversees international monetary systems. D) Promote economic development. Show Answer Correct Answer: C) Oversees international monetary systems. 11. Economic globalisation is related to ..... A) Buying, selling, businesses, taxes. B) Presidents and territories. C) The United Nations. D) None of the above. Show Answer Correct Answer: A) Buying, selling, businesses, taxes. 12. ..... refers to disposal of equity of public sector units in the market. A) Disinvestment. B) Privatisation. C) Liberalisation. D) Globalisation. Show Answer Correct Answer: A) Disinvestment. 13. Who is the head of the World Trade Organisation A) Ministerial conference. B) Director general. C) Deputy director general. D) None of these. Show Answer Correct Answer: B) Director general. 14. Economic liberalization of 1991 was a bold decision by the Prime Minister ..... and his Finance Minister ..... A) Narendra Modi, Nirmala Seetharaman. B) Jawaharlal Nehru, Liaquat Ali Khan. C) Indira Gandhi, Yashwantrao B. Chavan. D) Narasimha Rao, Manmohan Singh. Show Answer Correct Answer: D) Narasimha Rao, Manmohan Singh. 15. Globalisation will result in A) More competition among producers. B) Less competition among producers. C) No change in competition among producers. D) None of the above. Show Answer Correct Answer: A) More competition among producers. 16. Which were the 2 Major issue P.V Narasimha Rao initiated? A) Ram janmabhumi and Barib Mosque. B) Ram janambhumi and Babri mosque. C) Ram janmabhumi and Babri mosque. D) None of the above. Show Answer Correct Answer: C) Ram janmabhumi and Babri mosque. 17. Due to containerisation, how many container movements take place each year on average? A) 500 million. B) 100 million. C) 200 million. D) 300 million. Show Answer Correct Answer: C) 200 million. 18. Which of the following is not a characteristic of SEZs? A) They do not have to pay taxes. B) Government has alloweds flexibility in labour laws. C) They have world class facilities. D) Government allows flexibility of labour laws. Show Answer Correct Answer: A) They do not have to pay taxes. 19. What are some positives of globalization? A) Cheap sneakers and clothes. B) Cheap electronics. C) Information is easy to access and it travels quickly (internet and social media). D) All of the answers are correct. Show Answer Correct Answer: D) All of the answers are correct. 20. The food at the Turkish restaurant is really ..... it tastes just that same as food you would eat in Turkey A) Expensive. B) Significant. C) Authentic. D) Disappointing. Show Answer Correct Answer: C) Authentic. 21. Privatisation means: A) Allowing the private sector to set up industries which were previously reserved for the publicsector. B) Existing enterprises of the public sector are either wholly or partially sold to private sector. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: C) Both (a) and (b). 22. Which of the following organisations aims to regulate trade among countries? A) EU. B) IMF. C) WTO. D) GATT. Show Answer Correct Answer: C) WTO. 23. TRUE OR FALSE:Tariffs work by increasing the price of exported goods and protects local products within the same market. A) TRUE. B) FALSE. C) I DO NOT KNOW. D) None of the above. Show Answer Correct Answer: A) TRUE. 24. Reasons of implementing liberalisation ..... A) Excess of expenditure & consumption over revenue resulting in heavy government borrowings. B) Mis management of firms & economy. C) Burden of national debt. D) Mounting losses of public sector enterprises. E) All of the above. Show Answer Correct Answer: E) All of the above. 25. Out of the following, what is an example of outsourcing? A) Call Centres. B) Book Transcription. C) Clinical Advice. D) All of the Above. Show Answer Correct Answer: D) All of the Above. Next →Related QuizzesClass 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 2Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 3Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 4Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 5Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 6Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 7Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 8Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 9Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 10Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books