What is meant by NIEO?

New International Economic Order

New International Entertainment Organisation

New Internal Ecosystem Operations

network of routes connecting Asia with Europe and North Africa

network of routes connecting China and Rome

network of routes connecting India andd Rome

Network of routes connecting India and China

The Bretton Woods Monetary System was based on

floating as well as fixed rates

Who were the first people to link the world in ancient times and why?

(b) Travellers, traders, priests and pilgrims travelled vast distances for knowledge,opportunity, spiritual fulfilment or to escape persecution

(a)Priests and pilgrims travelled vast distances for knowledge and spiritual fulfilment

. The main reason why the world “shrank” in the 1500s is :

(d) European sailors found a sea route to Asia, and also crossed the Atlantic and discovered America.

(a) Emergence of Europe as the centre of world trade

(b) China’s retreat into isolation and its reduced role in politics

(c) Slaves working in plantations, growing sugar and cotton for European markets

The two evidences we have of India carrying on an active coastal trade in ancient times are :

(a) Indians carried goods, money, skills and ideas abroad

(b) An active coastal trade, as early as 3000 BC, linked Indus Valley Civilisation with present day West Asia

(d) For more than a millennium, cowries (a form of Indian currency) found its way from Maldives, to China and East Africa.

. The dramatic changes in global agricultural economy by 1890, were :

(a) Food no longer came from a nearby village but from thousands of miles away, grown by a migrant recently arrived

(b) Food was transported by railways recently built and ships manned by low-paid workers from southern Europe, Asia, Africa

(c) Forests were converted into large farms, leading to ecological changes

. Indentured labour means :

(b) A bonded labour, under contract to work for a specific time for his employer, to pay off his passage to a new country or home

(a) Labour, which is marked by identification marks on their bodies

(c) A slave brought in a share market

. The reasons why the inflow of fine Indian cotton into Britain and other countries declined in the 19th century were :

(a) Industrialisation and expansion of cotton manufacture in Britain

(b) Imposition of tariff on cloth imported into Britain to protect local industries

(c) British manufacturers began to seek overseas markets for their cloth, Indians faced stiff competition in international markets

The Second World War was fought between :

(c) The Allies (Britain, France, Soviet Union and the US) and the Axis powers (Nazi Germany, Japan and Italy)

(b) USA & England and Germany & Japan

(d) The USA, England and France and Germany and Italy

The British ‘trade surplus’ with India in the 19th century helped Britain :

(a) To balance its trade deficits with other countries

(b) It helped to pay home charges that included private remittances by British officials and traders

(c) Britain could pay interest payments on India’s external debts and pensions of British officials in India

Post-war reconstruction was shaped by two crucial influences. They were :

(a) The US emerged as the dominant economic, political and military power in the western world

(b) The capitalist world collapsed

(c) The Soviet Union emerged as a world power

The dramatic change in global agricultural economy occurred in West Punjab, India. The similarity was :

(a) Building of irrigation canals to transform semi-deserts into fertile agricultural lands for growing wheat and cotton for export

(b) Peasants from other parts of Punjab opposed it.

(c) Importing laboures from southern India

The decision-making in the IMF and the World Bank is controlled by :

(b) Western industrial powers and the US’s right to veto over key IMF and World Bank decisions

(a) All the member-nations of these two banks

(d) A majority vote by all the nations

. Which of the following statements is true about the international monetary system?

(a) A system which links national currencies and monetary system

(b) A system based on fixed exchange rates, for example, Indian rupee was pegged to the dollar at a fixed rate

(c) The dollar was anchored to gold at a fixed price of $ 35 per ounce of gold

The European colonies in Asia and Africa after Independence faced the problems of :

(a) Burden of poverty and a lack of resources

(b) Overpopulation and illiteracy

(c) The economic and social handicaps of long periods of colonial rule

(d) Dependence on the colonial powers for economic growth

The IMF and the World Bank shifted their attention in the late 1950s towards the developing countries, because .

(b) Europe and Japan had rapidly rebuilt their economies and did not need the help of IMF and World Bank

(a) They wanted to dominate the economy of the developing nations

(c) The developing countries formed NIEO

The Group of 77 or G - 77 was :

( c) A group formed by the developing countries to demand a new international economic order

(a) A group formed by western nations to exploit the developing nations

(b) A protest against the western economic policies

(b) Multinational corporations (or large companies) that operate in several countries at the same time

(a) Foreign companies that flourish in the developing countries

(c) Large companies that try to exploit small companies

(d) West European and Japanese companies which exploit the developing countries

. Which of the following statements are reasons for the collapse of the system of fixed exchange rate in the 1960s?

(a) The rising costs of its overseas involvements weakened the US finances and competitive strength

(b) The US dollar no longer commanded confidence as the world’s principal currency

(c) The US dollar could not maintain its value in relation to gold

The ‘Bretton Woods’ twins are :

(b) The two international banks — The IMF and the World Bank – set up to finance post-war reconstruction

(c) The framework agreed upon by the United Nations Monetary and Financial Conference

. Which among the following were considered as Allies Powers?

(b) Germany, Austria - Hungary and Ottomon Turk

. Which of the following West Indies cricketers trace their roots to indentured labour migrants from India?

(c) Ramnaresh Sarwan and Shivnaraine Chanderpaul

(a) Vivian Richards and Gary Sobers

(b) Chris Gayle and Dwayne Bravo

(d) Brian Lara and Courtney Walsh

What is El Dorado in South America?

(a) It was the place where Columbus landed

(b) Where silver mines were located

Which of the following statements is not true of mass production?

(a) Lowered cost and prices of goods

(c) Increased output per worker

. Which one of the following was experienced during Great Depression of 1929?

(c) Decrease in production and employment

(a) Increase in production and income

(b) Increase in employment and trade

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The Making of Global world.

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