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 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 3 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is an element of financial sector of the economy? A) Banking and non-banking financial institutions. B) Stock exchange market. C) Foreign exchange market. D) All of these. Show Answer Correct Answer: D) All of these. 2. Improvements in communications-the internet and mobile technology have allowed greater communication between people in different countries A) Cause. B) Positive Impact. C) Negative Impact. D) None of the above. Show Answer Correct Answer: A) Cause. 3. Globalization goes hand in hand with A) Trading blocs. B) Bilateral agreements. C) Trade Liberalisation. D) Global trade. Show Answer Correct Answer: C) Trade Liberalisation. 4. Which of the following is not an objective of liberalisation ..... A) To boost competition between domestic business. B) Improvement of technology and foreign capital. C) Women education. D) Reducing burden of country. E) Unlock economic potential of tge country by encouraging pvt. Sector. Show Answer Correct Answer: C) Women education. 5. Those who benefit most are: A) The poorer countries. B) The wealthy countries. C) Caribbean countries. D) All benefit alike. Show Answer Correct Answer: B) The wealthy countries. 6. Which organization provides a mechanism for dispute resolution and the enforcement of trade laws? A) The UN. B) The World Bank. C) The IMF. D) The WTO. Show Answer Correct Answer: D) The WTO. 7. What is the 'brain drain'? A) The migration of skilled workers to more developed countries. B) The migration of unskilled workers to more developed countries. C) The migration of skilled workers to less developed countries. D) The migration of unskilled workers to less developed countries. Show Answer Correct Answer: A) The migration of skilled workers to more developed countries. 8. Reduction in the value of domestic currency by the Government is called ..... A) Demonetisation. B) Depreciation. C) Revaluation. D) Devaluation. Show Answer Correct Answer: D) Devaluation. 9. What is one of the impacts of GST on compliance? A) No change in compliance requirements. B) More complex compliance procedures. C) Tremendously reduced number of compliances. D) Increased number of compliances. Show Answer Correct Answer: C) Tremendously reduced number of compliances. 10. Agreement between two countries that agree to loosen trade restrictions between the two. A) Unilateral Agreement. B) Bilateral Agreement. C) Multilateral Agreement. D) Free Trade Agreement. Show Answer Correct Answer: B) Bilateral Agreement. 11. The programme of economic reforms in India was started on ..... A) 26 th July 1990. B) 23th July 1992. C) 21th July 1991. D) 24th July 1991. Show Answer Correct Answer: D) 24th July 1991. 12. What does the word 'trade' mean? A) Business. B) Buying. C) The selling of something. D) Not selling. Show Answer Correct Answer: C) The selling of something. 13. In the context of Indian experience, controls were imposed by the government with a view to: A) Checking the growth of private monopolies. B) Minimising the hold of large industrial houses on the financial resources of the country. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: C) Both (a) and (b). 14. Globalisation is good because of an ..... in standard of living, but is bad because there is a ..... in local cultures and traditions A) Increase / decrease. B) Decrease / increase. C) Increase / increase. D) Decrease / decrease. Show Answer Correct Answer: A) Increase / decrease. 15. Managing Balance of Payments during 1991 New Economic Policy was classified as:- A) Structural Measures. B) Stablisation measures. C) Reformational Measures. D) Development Measures. Show Answer Correct Answer: B) Stablisation measures. 16. Industrial sector reforms under the New Economic Policy (NEP) comprised which of the following? A) Abolition of industrial licencing. B) De-reservation of production areas. C) Contraction of public sector. D) All of these. Show Answer Correct Answer: D) All of these. 17. ..... is working with farmers by corporate firms & sharing the rewards . A) Contract farming. B) Corporate farming. C) Government farming. D) Private farming. Show Answer Correct Answer: B) Corporate farming. 18. ..... is known as India's Silicon Valley A) Jaipur. B) Mumbai. C) Delhi. D) Bengaluru. Show Answer Correct Answer: D) Bengaluru. 19. Tariffs restrict trade through A) Taxation. B) Quota systems. C) International law. D) Domestic trading. Show Answer Correct Answer: A) Taxation. 20. Which one of the following is a characteristic of globalisation A) Low levels of labour migration. B) The development of global brands. C) A decrease in foreign direct investment. D) A reduction in out-sourcing and off-shoring of production. Show Answer Correct Answer: B) The development of global brands. 21. Is the spread of religion over human history an example of globalisation? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. Which of these factors have influenced globalisation? A) High taxes and investment restrictions. B) Communication systems and the internet. C) Poor standard of living and unemployment. D) None of the above. Show Answer Correct Answer: B) Communication systems and the internet. 23. A free trade block is an agreement that allows A) An increase in tarrifs and quotas. B) Allows non-member states to trade freely. C) Allow goods and money to move freely between countries. D) None of the above. Show Answer Correct Answer: C) Allow goods and money to move freely between countries. 24. Which of the following is not a component of privatisation? A) Contraction of public sector. B) Disinvestment in public sector enterprises. C) Sale of public sector's share. D) Purchase of industrial shares by the government. Show Answer Correct Answer: D) Purchase of industrial shares by the government. 25. As with major technological advances, globalization harms society as a whole, while benefiting certain groups. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. ← 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 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