Globalisation and the Indian Economy

Removing barriers or restrictions set by the government is called ________ .

• Liberalisation

• Investment

• Favourable trade

Rapid integration or interconnection between countries is known as:

• Privatisation

• Globalisation

• Liberalisation

• Socialisation

Globalisation has led to improvement in living conditions:

• of all the people

• of people in the developed countries

• of workers in the developing countries

• none of the above.

Which one of the following Indian indus¬tries has been hit hard by globalisation?

• Information Technology (IT)

• Toy making

• Jute

• Cement

World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries?

• Rich countries

• Poor countries

• Developed countries

• Developing countries

Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment?

• International Labour Organisation

• International Monetary Fund

• World Health Organisation

• World Trade Organisation

Investments made by MNCs are termed as:

• Indigenous investment

• Foreign investment

• Entrepreneur’s investment

• None of the above

Which of the following is not a feature of a Multi-National Company?

• It owns/controls production in more than one nation.

• It sets up factories where it is close to the markets.

• It organises production in complex ways.

• It employs labour only from its own country.

Tax on imports is an example of:

• Terms of Trade

• Collateral

• Trade Barriers

• Foreign Trade

Which one of the following is not characteristic of ‘Special Economic Zone’?

• They do not have to pay taxes for long period.

• Government has allowed flexibility in labour laws.

• They have world class facilities.

• They do not have to pay taxes for an initial period of five years.