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 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 6 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is not the characteristics of privatisation? A) Individual's or company' s ownerships. B) No control of government. C) Active in different fields. D) All of the above. Show Answer Correct Answer: D) All of the above. 2. What is the top corporate nation according to Foreign Policy? A) Waitrose. B) Cadburys. C) Disney. D) Walmart. Show Answer Correct Answer: D) Walmart. 3. Reforms related to revenue and expenditure of government is termed as A) Industrial Reforms. B) Monetary Reforms. C) Fiscal Reforms. D) Trade Reforms. Show Answer Correct Answer: C) Fiscal Reforms. 4. The food was so ..... that I didn't mind paying a little extra for it. A) Delicious. B) Expensive. C) Significant. D) Cheap. Show Answer Correct Answer: A) Delicious. 5. What does privatisation involve? A) Eliminating competition. B) Increasing public sector involvement. C) Reducing the role of the private sector. D) Involving the private sector in more activities. Show Answer Correct Answer: D) Involving the private sector in more activities. 6. What does the shift toward a global economy mean for managers within an international business? A) Managers have the same responsibilities as in a domestic business. B) Managers face a greater and more complex range of problems. C) Managers have fewer problems to deal with. D) Managers have no role in the global economy. Show Answer Correct Answer: B) Managers face a greater and more complex range of problems. 7. The parameters of economic reforms undertaken in an economy are: A) Macroeconomic stabilisation. B) Macroeconomic structural adjustments. C) Both (a) and (b). D) None of these. Show Answer Correct Answer: C) Both (a) and (b). 8. Globalisation is: A) The introduction of the internet to make us closer to others in the world. B) The breakdown of traditional barriers between nations through technology and transport. C) Faster travel around the world. D) The movement of people and ideas around the world. Show Answer Correct Answer: B) The breakdown of traditional barriers between nations through technology and transport. 9. Which of the following are benefits of international trade? A) Acquiring goods that you do not produce yourself. B) The ability to sell your goods to others for a profit. C) The ability to specialize production of certain goods in your country. D) All of the above are benefits. Show Answer Correct Answer: D) All of the above are benefits. 10. Sometimes countries group together to get better trade deals. Which of the following is an example of a trade group? A) USA. B) EU. C) UK. D) NASA. Show Answer Correct Answer: B) EU. 11. WTO was established in the year ..... A) 1991. B) 1993. C) 1995. D) 1999. Show Answer Correct Answer: C) 1995. 12. What is exclusively reserved for the public sector out of the following? A) Defense Equipments. B) Telecommunications. C) Fertilisers. D) Petroleum Industry. Show Answer Correct Answer: A) Defense Equipments. 13. Mc Donald's is an example of a multinational corporation. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. Under liberal policy, there has been removal of A) Restrictions. B) License. C) Trade. D) Both restrictions and license. Show Answer Correct Answer: A) Restrictions. 15. Liberalisation of the economy under the new economic policy changed the role of RBI in the 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. 16. What does "SAPs" mean in the context of IMF and World Bank lending? A) Structural adjustment programs. B) Structural action policies. C) Structural adjustment punishments. D) Structural action programmes. Show Answer Correct Answer: A) Structural adjustment programs. 17. Which of the following is the example of direct tax? A) Income Tax. B) Wealth Tax. C) Goods and service Tax. D) Both (a) and (b). Show Answer Correct Answer: D) Both (a) and (b). 18. GATT A) 1986. B) 1947. C) Infosys. D) Minimise cost of production. Show Answer Correct Answer: B) 1947. 19. Privatization involves A) Governments restricting businesses from getting a share in government enterprises. B) Allowing businesses to get a share of government enterprizes. C) Allowing government enterprizes to remain private. D) None of the above. Show Answer Correct Answer: B) Allowing businesses to get a share of government enterprizes. 20. When was the WTO established? A) 1985. B) 1995. C) 2000. D) 2005. Show Answer Correct Answer: B) 1995. 21. Privatisation leads to ..... A) Lower productivity and lower profit. B) Higher productivity and lower profit. C) Higher productivity and higher profit. D) Lower productivity and higher profit t through increase in efficiency. Show Answer Correct Answer: C) Higher productivity and higher profit. 22. It's easy to ..... restaurants that import ingredients from distant countries-it's very bad for the environment. A) Discount. B) Insist. C) Begin. D) Criticise. Show Answer Correct Answer: D) Criticise. 23. Which of the following are low income countries? A) The USA, Canada and the UK. B) The USA, Canada and the UK. C) Peru, Bolivia and Argentina. D) None of the above. Show Answer Correct Answer: C) Peru, Bolivia and Argentina. 24. What is the name of the Japanese trend which is influenced by Western fashion? A) Otaku. B) Ganguro. C) Anime. D) Senpai. Show Answer Correct Answer: B) Ganguro. 25. In which region was India and China war in 1962 was fought? A) Diu and daman. B) Konkan region. C) MacMohan. D) Cuba region. 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