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WorksheetsSOCIAL
Total questions: 70
Worksheet time: 35mins
Which one of the following statements is most appropriate regarding transaction made in money?
It is the easiest way.
It is the safest way.
It is the cheapest way.
It promotes trade.
Which one of the following is a modem form of currency?
Gold
Silver
Copper
none of these
Which among the following authorities issues currency notes on behalf of the government?
Government of India
The State Bank of India
National Bank for Agriculture and Rural Development
none of these
In which of the following systems exchange of goods is done without use of money?
Credit system
Barter system
Banking system
Collateral system
Banks provide a higher rate of interest on which of the following accounts?
Saving account
Current account
Fixed deposits for long period
Fixed deposits for very short period
Banks use the major portion of the deposits to:
Keep as reserve so that people may withdraw
Meet their routine expenses
Extend loans
Meet renovation of bank
What percentage of their deposits is kept as cash by the banks in India?
25%
20
15
10
The informal source of credit does not include which one of the following?
Traders
Friends
Cooperative Societies
Moneylenders
Which one of the following is the new way of providing loans to the moral poor?
Co-operative societies
Traders
Relatives and friends
SHGs
Why is currency accepted as a medium of exchange?
Because the currency is authorised by the government of the country.
Because it is liked by the people who use it.
because the use of currency has its origin in ancient times.
Because the currency is authorised by the World Bank.
. Who issues the currency notes in India?
Currency notes are issued by the Finance Commission.
All the nationalized banks can issue the currency notes.
Only Reserve Bank of India can issue currency notes.
Any individual or organization can issue currency notes with the permission of the govt.
Which among the following banks issues currency notes on behalf of the Central Government in India?
RBI
SBI
Bank of India
CBI
What do the banks do with the deposits which I they accept from the customers?
Banks use these deposits for charitable activities.
Banks use a major portion of deposits to extend loans.
Banks use deposits to give bonus to their employees.
Banks use deposits to set up more branches in the country.
What is the main source of income of a bank?
Bank charges that the depositors pay for ; keeping their money safe is the main ; source of the bank’s income.
The difference between what is charged from the borrowers and paid to the depositors is the main source of bank’s income.
Banks earn huge amounts of money by investing the money of the depositors in various company shares.
The Government of India gives huge amounts of money to the banks to help their smooth functioning
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to
Debt
Deposit
Credit
Collateral
Which body (authority) supervises the functioning of formal sources of loans?
Finance Ministry
Head Office of each Bank
Reserve Bank
Cooperative Societies
Money-lenders usually demand a ‘security’ from the borrower. What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc.?
Deposit
Collateral
Credit
Guarantee
Which among the following options will be the cheapest source of credit in rural areas?
Bank
Cooperative Society
Money-lender
Finance Company
In which country is the Grameen Bank meeting the credit needs of over 6 million poor people?
Bhuta
Sri Lanka
Bangladesh
Nepal
A typical Self Help Group usually has
100-200 members
50-100 members
less than 10 members
15-20 members
Which of the following is not an informal source of credit?
Money-lender
Relatives and Friends
Commercial Banks
Traders
According to Crowther, “ (a) can be defined as anything that is generally accepted as a means of exchange and at the same time acts as a measure and as a store of value.”
(a) is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given period of time.
Low rate of interest’ is a feature of (a) credit.
National Sample Survey Organisation is a:
Commercial bank organisation
An organisation of World Bank
An organisation associated with Indian Standard Institute
An institution responsible to collect data on formal sector credit
Gold mohar, a coin so named was brought in circulation by:
Akbar
Sher Shah Suri
Ashok
Shivaji
Removing barriers or restrictions set by the government is called:
Liberalisation
Investment
Fovourable trade
Free 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 industries 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 Oraganisation
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
ForeignTrade
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.
Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of:
2
10
4
none of these
majority of the credit need of the (a) households are met from informal sources
(a) costs of borrowing increase the debt-burden
in a SHG most of the decisions regarding savings and loan activities are taken by
BANK
COOPERATIVES
MEMBERS
none of these
why to bank keep as small portion of money in the bank
for salary
to economical purpose
to pay the depositors
all of the above
cost of the informal loans are
lower
higer
managable
none of these
out of portion
full form of SHG
self helping group
self help group
sensitive help group
none of the above
SHG is mainly for whom
men
poor
women
all of the above
find the incorrect option
demand deposit share the essential features of money
with demand deposit payments can be made without cash
demand deposits are safe way of money transformation
demand deposit facility is like cheque
It refers to the globalisation which creates opportunities for all and ensures that its benefits are better shared.
Privatisation
Special Economic Zones (SEZs)
World Trade Organisation (WTO)
Fair globalisation
An MNC is a company that owns or controls production in
one country
more than one country
only developing countries
only developed countries
The process of rapid integration or interconnection between countries through free trade, free mobility of capital and labour is called
Foreign trade
Liberalisation
Globalisation
Privatisation
What was the main channel connecting countries in the past?
Labour
Religion
Technology
Trade
‘The impact of Globalisation has not been fair.’ Who among the following people have not benefitted from globalisation?
Well off consumers
Small producers and workers
Skilled and educated producers
Large wealthy producers
What is the main motive behind the investments of MNCs?
The main motive is to increase their assets and earn profits.
The main motive is the welfare of the poor people.
The main motive of an MNCs is to offer financial support to the government of their country.
The main motive is to benefit foreign countries.
“MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below
Availability of cheap skilled and unskilled labour
Proximity to markets
Presence of a large number of local competitors
Favourable government policies
Which Indian company was bought over by Cargill Foods—a large American MNC? Pick out the name from the alternatives provided
Amul
Fun Foods Ltd.
Agro Tech Foods Ltd.
Parakh Foods
WTiich organisation supports liberalisation of foreign trade and investments in India?
International Labour Organisation (ILO)
World Bank
World Trade Organisation (WTO)
International Monetary Fund (IMF)
In which year did the government decide to remove barriers on foreign trade and investment in India?
1993
1992
1990
none of these
Which of the following industries have been hard hit by foreign competition?
Dairy products
Leather industry
Cloth industry
Vehicle industry
Indian government felt the need for removing barriers on foreign trade and foreign investment in (a) .
A (a) is a company that owns or controls production in more than one nation/country.
‘Increased job opportunities’ is an impact of (a) .
‘Increase in GNP’ is a positive impact of liberalisation. (True/False)
True
may be
False
cant tell
‘Deregulation of Industries’ is a feature of economic reforms introduced in 1991 in India. ( true/false)
True
may be
False
cant tell
Rapid integration or interconnection between countries is known as socialisation. (True/False)
true
may be
false
50:50
World Trade Organisation (WTO) was started at the initiative of developing countries.
Ture
may be
False
cant tell
‘Ensuring that rules are being followed’ is a function of World Trade Organisation.
True
may be
False
cant tell
As on July 2016, 175 countries are the members of World Trade Organisation. (True/False)
True
may be
False
cant tell
UNICEF is one such organisation whose aim is to liberalise international trade. (True/False)
true
may be
false
i wont tell
Investments made by MNCs is called_________
Direct Investment
Indirect Investment
Foreign investment
Additional Investment
The past two decades of globalisation has seen rapid movements in
goods, services and people between countries.
goods, services and investments between countries.
goods, investments and people between countries.
The most common route for investments by MNCs in countries around the world is to
set up new factories.
buy existing local companies.
form partnerships with local companies.
__________ in the labour laws can attract foreign investment.
Stagnancy
Flexibility
Stringency
