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 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Indian Economic Development) Chapter 3 Liberalisation, Privatisation And Globalisation An Appraisal Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does GST stand for? A) Gross Sales Tax. B) Goods and Services Tax. C) Government Sales Tax. D) General Sales Tax. Show Answer Correct Answer: B) Goods and Services Tax. 2. What are MNCs? A) They are otherwise known as Transnational companies. B) They promote competition in the Indian Economy. C) The extend their trading and manufacturing activities in more than one country. D) All of the above. Show Answer Correct Answer: D) All of the above. 3. Huge container ships allow: A) Clothes to be bought from overseas. B) People to travel to any country they want. C) Goods to be transported all over the world. D) People to go on cruises to many parts of the world. Show Answer Correct Answer: C) Goods to be transported all over the world. 4. Which of the following is NOT the reason for initiation of economic reforms in 1991? A) Poor Performance of PSUs. B) Fall in Foreign exchange reserves. C) Mounting fiscal deficit. D) High Growth Rate of Population. Show Answer Correct Answer: D) High Growth Rate of Population. 5. Which UK initiative did the relaxation of Sunday trading laws particularly encourage? A) Privatisation. B) Encouraging business start ups. C) Economic re-structuring. D) Free market liberalisation. Show Answer Correct Answer: B) Encouraging business start ups. 6. Benefits of MNCs include A) Inflow of foreign exchange. B) Lower the standard of living. C) To increase barriers in trade. D) To reduce competitiveness. Show Answer Correct Answer: A) Inflow of foreign exchange. 7. Which of the following is a structural measure? A) Correcting weakness of BoP by maintaining sufficient foreign exchange reserves. B) Controlling inflation. C) Increasing international competitiveness by removing rigidities of the Indian economy. D) None of the above. Show Answer Correct Answer: C) Increasing international competitiveness by removing rigidities of the Indian economy. 8. When did Portuguese colonise India? A) 1600 BC. B) 1602 BC. C) 1498 BC. D) 1616 BC. Show Answer Correct Answer: C) 1498 BC. 9. Which of the following is NOT included in the liberalisation process? A) Freedom in fixing prices. B) Abolishing industrial licensing requirements. C) Simplifying import and export procedures. D) Increasing import restrictions. Show Answer Correct Answer: D) Increasing import restrictions. 10. ..... refers to concered movement of people away from their home . A) Local migration. B) Regional migration. C) Forced migration. D) Mass migration. Show Answer Correct Answer: C) Forced migration. 11. What are the negative impacts of liberalisation On education? A) Students and local institutions are unregulated. B) Risk of fake institutios. C) Corruption. D) All. Show Answer Correct Answer: D) All. 12. The Indian economy was liberalised in the year ..... A) 1990. B) 1991. C) 1992. D) None of the above. Show Answer Correct Answer: B) 1991. 13. What type of change are poverty reduction, waged work and infrastructure? A) Postive. B) Negative. C) All the above. D) None of the above. Show Answer Correct Answer: A) Postive. 14. Which of the following options are correct with respect to MNC's choosing a different country for their operations? A) Cheap labour. B) Proximity to market. C) Availability of natural resources. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. In order to curb the negative effects of trade liberalisation, countries in the Caribbean region may do of the options EXCEPT A) Increase the volume manufacturing production. B) Cut back on skilled workers. C) Automate and mechanise production processes. D) Increase educational opportunities for citizens. Show Answer Correct Answer: B) Cut back on skilled workers. 16. What is trade liberalisation? A) The imposition of trade barriers on imported goods. B) The reduction of barriers to trade. C) The promotion of preferential tariffs. D) The increase in protectionist measures. Show Answer Correct Answer: B) The reduction of barriers to trade. 17. Association of South-East Asian Nations (ASEAN) is an example of what type of globalization? A) Socio-Cultural Globalization. B) Economic Globalization. C) Political Globalization. D) None of the above. Show Answer Correct Answer: C) Political Globalization. 18. What are the concerns of critics of globalization? A) Globalization is promoting greater prosperity in the global economy. B) Globalization is not beneficial. C) Globalization has no impact on the world. D) Globalization is leading to equal distribution of wealth. Show Answer Correct Answer: B) Globalization is not beneficial. 19. Eliminating government set restrictions or barriers is called ..... A) Free trade. B) Favourable trade. C) Investment. D) Liberalisation. Show Answer Correct Answer: D) Liberalisation. 20. When government liberalised trade means ..... A) Removal of tarriff, subsidies & restrictions on flow of goods and services. B) Removal of export credit. C) Removal of import credit. D) Exporting of only goods not of services. Show Answer Correct Answer: A) Removal of tarriff, subsidies & restrictions on flow of goods and services. 21. What is one of the goals of globalisation? A) Limiting foreign investment. B) Integrating the economy with the world economy. C) Reducing technology transfer. D) Restricting the flow of goods and services. Show Answer Correct Answer: B) Integrating the economy with the world economy. 22. Immigrants without suitable qualifications may have their visa requests turned down. A) Separated. B) Refused. C) Excluded. D) Exhausted. Show Answer Correct Answer: B) Refused. 23. Which of the following was initiated by the Government under Liberalisation? A) Denationalisation. B) Decentralisation. C) Demonetisation. D) Dereservation of industries. Show Answer Correct Answer: D) Dereservation of industries. 24. ..... means integrating the national economy with th e world economy . A) Privatization. B) Liberalization. C) Globalization. D) Disinvestment. Show Answer Correct Answer: C) Globalization. 25. Which is not a method that governemts use to encourage small business start ups? A) Reduction in tax. B) Increase in tarrifs. C) Changes in government policies. D) None of the above. Show Answer Correct Answer: B) Increase in tarrifs. ← 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 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