1. Removing barriers or restrictions set by the government is called:

• (a) Liberalisation

• (b) Investment

• (c) Fovourable trade

• (d) Free trade

2. Rapid integration or interconnection between countries is known as:

• (a) Privatisation

• (b) Globalisation

• (c) Liberalisation

• (d) Socialisation

3. Globalisation has led to improvement in living conditions:

• (a) of all the people

• (b) of people in the developed countries

• (c) of workers in the developing countries

• (d) none of the above.

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

• (a) Information Technology (IT)

• (b) Toy making

• (c) Jute

• (d) Cement

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

• (a) Rich countries

• (b) Poor countries

• (c) Developed countries

• (d) Developing countries

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

• (a) International Labour Organisation

• (b) International Monetary Fund

• (c) World Health Organisation

• (d) World Trade Oraganisation

Investments made by MNCs are termed as:

• (a) Indigenous investment

• (b) Foreign investment

• (c) Entrepreneur’s investment

• (d) None of the above

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

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

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

• (c) It organises production in complex ways.

• (d) It employs labour only from its own country.

Heavy Tax on imports is an example of:

• (a) Terms of Trade

• (b) Collateral

• (c) Trade Barriers

• (d) ForeignTrade

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

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

• (b) Government has allowed flexibility in labour laws.

• (c) They have world class facilities.

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