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 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 11 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Products meant to satisfy the wants and needs of buyers. A) Goods. B) Trade. C) Commodity. D) Outsourcing. Show Answer Correct Answer: A) Goods. 2. Although many people benefit from globalisation, others can also be left out. A) Separated. B) Refused. C) Excluded. D) Exhausted. Show Answer Correct Answer: C) Excluded. 3. Period of National Emergency was between A) 1964 you 1970. B) 1967 to 1975. C) 1975 to 1977. D) 1973 to 1977. Show Answer Correct Answer: C) 1975 to 1977. 4. GATT was established in the year A) 1950. B) 1949. C) 1948. D) 1946. Show Answer Correct Answer: C) 1948. 5. Which among the following is not a cause of globalization? A) Development of Transportation. B) Advancement in Technology. C) Faster Way of Communication. D) Trade Agreement. E) None of these. Show Answer Correct Answer: E) None of these. 6. Licensing (as in case of liquor) is necessary for the ..... A) Regulation of business. B) Regulation of the industry. C) Regulation of taxes. D) None of these. Show Answer Correct Answer: B) Regulation of the industry. 7. The KOF index is comprised of a number of different factors including economic and political globalisation. What is the third factor it uses? A) Cultural globalisation. B) Environmental globalisation. C) Social Globalisation. D) Membership of trade blocs. Show Answer Correct Answer: C) Social Globalisation. 8. ..... owns or controls production in more than one nation. A) Industries. B) MNCs. C) Retailers. D) Producers. Show Answer Correct Answer: B) MNCs. 9. Reasons of privatisation are A) Inefficiency indifference and corruption. B) Indifference and corruption. C) Inefficiency and irresponsibility. D) Inefficiency, indifference, irresponsibility and corruption. Show Answer Correct Answer: D) Inefficiency, indifference, irresponsibility and corruption. 10. What is trade? A) Selling things. B) Buying things. C) Buying and selling things. D) Designing things. Show Answer Correct Answer: C) Buying and selling things. 11. What impact did government policy changes have on technology? A) No significant impact on technology. B) Technology became less important. C) Companies were allowed to use outdated technology. D) Companies were forced to adopt world-class technology. Show Answer Correct Answer: D) Companies were forced to adopt world-class technology. 12. Globalization is not supported by A) Privatization. B) Liberalization. C) Information and communication technology. D) None of these. Show Answer Correct Answer: D) None of these. 13. Political globalisation organism: A) United Kingdom. B) The United Nations. C) United States of America. D) None of the above. Show Answer Correct Answer: B) The United Nations. 14. The trend away from distinct national economic units and toward one huge global market is known as A) Privatization. B) Globalization. C) Economic integration. D) Internationalization. Show Answer Correct Answer: B) Globalization. 15. Transnational corporations: A) Tend to make their products in lower-cost countries. B) Are involved in slave labour. C) Do not look after their workers. D) Make cheap products and sell them at a high price. Show Answer Correct Answer: A) Tend to make their products in lower-cost countries. 16. When government encourages more outsourcing in an economy, it is essentially looking forward to:- A) Liberlisation. B) Privatisation. C) Globalisation. D) Deindustrialisatoin. Show Answer Correct Answer: C) Globalisation. 17. What was the major reason for establishing the planning commission and emphasis on industrialisation? A) To get faith in democratic traditions. B) To achieve economic development and to eliminate poverty in India. C) To achieve political stability. D) To implement weaker sections of society. Show Answer Correct Answer: B) To achieve economic development and to eliminate poverty in India. 18. The following are advantages of globalization, EXCEPT: A) Globalization paves way for a worldwide market. B) Globalization allows many rich companies to act with less accountability. C) We become socially open towards other cultures. D) There is cultural intermingling. Show Answer Correct Answer: B) Globalization allows many rich companies to act with less accountability. 19. The growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information is the ..... A) Multiculturalism. B) International Trade. C) Globalization. D) Ecommerce. Show Answer Correct Answer: C) Globalization. 20. As per the financial sector reform, the role of RBI was reduced from regulator to ..... of financial sector. A) Facilitator. B) Controller. C) Supervisor. D) Operator. Show Answer Correct Answer: A) Facilitator. 21. How has China and India benefited from globalisation? A) Millions of people have been lifted out of poverty in India and China. B) Inequalities among the countyside are growing. C) Increased levels of carbon is being emitted in both countries. D) None of the above. Show Answer Correct Answer: A) Millions of people have been lifted out of poverty in India and China. 22. The common practice among TNCs of moving low-skilled work abroad to places where labour costs are low, whilst higher income and senior managers remain in their HQ countries is known as what ..... A) Interdependency. B) Spatial division of labour. C) Neo liberalism. D) Capital restructuring. Show Answer Correct Answer: B) Spatial division of labour. 23. Integrating the domestic economy with the world economy is called ..... A) Universalisation. B) Liberalisation. C) Privatisation. D) Globalisation. Show Answer Correct Answer: D) Globalisation. 24. The International Monetary Fund often lends money with strict financial conditions that allow private companies access to invest / take ownership of key infrastructure projects in lower income countries. This arrangement is also known as ..... A) Debt cancellation. B) International protectionism. C) Privatisation facilitation. D) Structural Adjustment Program. Show Answer Correct Answer: D) Structural Adjustment Program. 25. One disadvantage of globalisation: A) There is free movement of capital and goods. B) Consumers can only buy with cash. C) Prices of goods will rise. D) Consumers may be tempted to overspend. Show Answer Correct Answer: D) Consumers may be tempted to overspend. ← PreviousNext →Related QuizzesClass 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 1Class 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 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books