Quiz on Liberalisation, Privatisation, and Globalisation

What does liberalisation primarily refer to?

• Eliminating unnecessary controls and restrictions on businesses

• Increasing government control over businesses

• Increasing tax rates

• Restricting foreign investment

Which of the following is NOT included in the liberalisation process?

• Freedom in fixing prices

• Abolishing industrial licensing requirements

• Simplifying import and export procedures

• Increasing import restrictions

What was one of the results of liberalisation in India?

• High growth rate

• Decreased competition

• Weak rupee

• Increased inflation

What does privatisation involve?

• Eliminating competition

• Increasing public sector involvement

• Reducing the role of the private sector

• Involving the private sector in more activities

How many industries were reserved for the public sector after the reduction due to privatisation?

• 17

• 8

• 3

• 5

What is one of the goals of globalisation?

• Limiting foreign investment

• Integrating the economy with the world economy

• Reducing technology transfer

• Restricting the flow of goods and services

Which measure is NOT associated with globalisation?

• Reduction in custom duties

• Encouragement of foreign technology

• Facilitating foreign investment

• Increasing trade barriers

What impact did government policy changes have on technology?

• No significant impact on technology

• Technology became less important

• Companies were allowed to use outdated technology

• Companies were forced to adopt world-class technology

How have consumer demands changed after government policy changes?

• Consumers are indifferent to product quality

• Consumers are less informed

• Consumers now demand higher quality goods

• Consumers prefer lower prices over quality

What is a consequence of increasing competition in the market?

• Companies can raise prices without concern

• Companies can operate without accountability

• Companies can ignore customer needs

• Companies must improve their performance