globalization and the indian economy

Government ensures fair globalization to its people by:

• Supporting only big creators

• promoting exclusive economic growth

• giving equal access to education & opportunities

• providing job insecurities

The MNC not only sell its finished products globally but, more importantly, the goods and services are produced globally. State whether true or false.

• True

• False

___________ provides the advantage of being a cheap manufacturing location.

• China

• japan

• south korea

• none of the above

_________, footwear, and sports items are examples of industries where production is carried out by a large number of small producers around the world.

• confectionaries

• garments

• petroleum products

• none of the above

The products are supplied to the MNCs, which then sell them under their own brand names to the customers. These large MNCs have tremendous power to determine the _____.

• Price

• Quality

• Labour conditions for these distant producers

• all of the above

Which of the following is true regarding the opening of trade?

• Choice of goods in the markets rises.

• Producers in the two countries now closely compete against each other even though they are separated by thousands of miles

• Foreign trade thus results in connecting the markets or integration of markets in different countries

• All of the above.

Globalisation is a process of slow integration or interconnection between countries. State whether true or false.

• True

• False

Started at the initiative of the ________, WTO establishes rules regarding international trade and sees that these rules are obeyed.

• Middle-income countries

• Poor countries

• Developing countries

• Developed countries

Nearly _________ countries of the world are members of the WTO as of June 2014.

• 50

• 100

• 160

• 200

Starting around ________, some far-reaching changes in policy were made in India. The government decided that the time had come for Indian producers to compete with producers around the globe.

• 2011

• 2001

• 1991

• 1981