4. Globalisation and the Indian Economy

*नोट: यह सेक्शन रिवीजन के लिए है। अपना ज्ञान परखने के लिए ऊपर दिए गए क्विज़ में भाग लें।

1. What is the process of rapid integration or interconnection between countries called?
   A) Liberalization  |  B) Globalization  |  C) Privatization  |  D) Nationalization
2. A Multinational Corporation (MNC) is one that:
   A) Produces only in one country  |  B) Owns or controls production in more than one nation  |  C) Only exports  |  D) None of these
3. Where do MNCs set up their production centers?
   A) Where market is close  |  B) Where cheap labor is available  |  C) Where government policies are favorable  |  D) All of the above
4. What is the investment made by MNCs called?
   A) Domestic investment  |  B) Foreign Investment  |  C) Government expenditure  |  D) Aid
5. What is the main function of Foreign Trade?
   A) Connecting markets  |  B) Increasing prices  |  C) Making the country poor  |  D) None of these
6. Ford Motors belongs to which country?
   A) India  |  B) USA  |  C) Japan  |  D) Korea
7. What is the main objective of the World Trade Organization (WTO)?
   A) Stopping wars  |  B) Liberalizing international trade  |  C) Feeding the poor  |  D) None of these
8. When was the New Economic Policy implemented in India?
   A) 1950  |  B) 1991  |  C) 2014  |  D) 2000
9. An example of a Trade Barrier is:
   A) Roads  |  B) Tax on imports  |  C) Electricity  |  D) Internet
10. What is meant by Liberalization?
    A) Making rules strict  |  B) Removing barriers or restrictions set by the government  |  C) Only increasing tax  |  D) None of these
11. Where is the headquarters of WTO located?
    A) New York  |  B) Geneva  |  C) Paris  |  D) Delhi
12. Who plays a major role in foreign investment and foreign trade?
    A) Local shopkeepers  |  B) Multinational Corporations (MNCs)  |  C) Panchayat  |  D) None of these
13. Due to globalization, what do consumers have for goods?
    A) Fewer choices  |  B) More choices and better quality  |  C) No choice  |  D) None of these
14. Which Indian company was bought by Cargill Foods?
    A) Parakh Foods  |  B) Tata  |  C) Reliance  |  D) Amul
15. Investment means money spent to buy ________.
    A) Sweets  |  B) Land, machine, and equipment  |  C) Clothes  |  D) Tickets
16. How did Information and Communication Technology (ICT) affect globalization?
    A) It accelerated the spread of services  |  B) Increased distance  |  C) Slowed down work  |  D) None of these
17. Why are Special Economic Zones (SEZs) created in India?
    A) For farming  |  B) To attract foreign investment  |  C) For planting forests  |  D) None of these
18. Which Indian company established itself as an MNC due to globalization?
    A) Tata Motors  |  B) Infosys  |  C) Ranbaxy  |  D) All of the above
19. Who has benefited the most from globalization?
    A) Rural laborers  |  B) Well-to-do urban consumers  |  C) Small producers  |  D) None of these
20. What does the government want to do by imposing tax on imports?
    A) Increase foreign trade  |  B) Regulate/limit foreign trade  |  C) Give gifts  |  D) None of these
21. Why do MNCs partner with local companies?
    A) To help them  |  B) To expand their production and access local markets  |  C) To give money  |  D) None of these
22. Through foreign trade, what happens to the prices of goods in different countries?
    A) Tend to become equal  |  B) Increase a lot  |  C) Become zero  |  D) None of these
23. What is the role of 'Technology' in the process of globalization?
    A) Increasing distance  |  B) Making transport and exchange of information fast and cheap  |  C) Only entertainment  |  D) None of these
24. Why does the government impose Trade Barriers?
    A) To close foreign trade completely  |  B) To protect domestic producers from foreign competition  |  C) To help the rich  |  D) None of these
25. What is often alleged against the WTO?
    A) It is not fair  |  B) It pressures developing countries to remove trade barriers while developed countries don't  |  C) It doesn't give money  |  D) None of these
26. What challenge do 'Small Producers' face due to globalization?
    A) More profit  |  B) Stiff competition from foreign products and crisis of existence  |  C) Free raw material  |  D) None of these
27. How do Flexible Labour Laws benefit MNCs?
    A) Workers are happy  |  B) It reduces labor costs and increases profit  |  C) Work decreases  |  D) None of these
28. On which sectors has globalization had a positive impact in India?
    A) IT and service sector  |  B) Automobile  |  C) Fast food and electronics  |  D) All of the above
29. What is the main difference between Foreign Direct Investment (FDI) and domestic investment?
    A) FDI is made by foreign companies  |  B) FDI is only done by government  |  C) No difference  |  D) None of these
30. Has the benefit of globalization been shared equally by all sections of society?
    A) Yes  |  B) No, skilled and rich people have benefited more  |  C) Only the poor  |  D) None of these
31. What do MNCs do to reduce their costs?
    A) Spread production across the world  |  B) Stay only in one country  |  C) Increase prices  |  D) None of these
32. What kind of services did Information Technology (IT) expand in foreign trade?
    A) Farming  |  B) Data entry, banking, and call centers  |  C) Only driving  |  D) None of these
33. Why was removing trade barriers considered necessary for India in 1991?
    A) So that Indian producers could compete globally  |  B) Government needed money  |  C) Under pressure of foreign companies  |  D) None of these
34. What facilities are provided in SEZs?
    A) Cheap electricity and water  |  B) Ready infrastructure  |  C) Tax exemption for 5 years  |  D) All of the above
35. What has been the impact of globalization on 'wages'?
    A) Wages have increased  |  B) Insecurity of employment and exploitation of unskilled workers increased  |  C) Work has ended  |  D) None of these
36. Why do Indian call centers provide services to foreign companies?
    A) Availability of cheap English-speaking labor  |  B) There is AC there  |  C) Out of compulsion  |  D) None of these
37. What does foreign trade do to markets of different countries?
    A) Isolation  |  B) Integration  |  C) Destruction  |  D) None of these
38. What benefit can local companies get from the arrival of MNCs?
    A) Access to new technology  |  B) Additional investment  |  C) Both A and B  |  D) They close down
39. How did Chinese toys affect the Indian market?
    A) Indian toys became popular  |  B) Indian toy makers suffered heavy losses due to cheap and diverse Chinese toys  |  C) No effect  |  D) None of these
40. What is necessary to make globalization 'Fair'?
    A) Equal opportunities for all  |  B) Strict adherence to labor laws  |  C) Helping small producers  |  D) All of the above
41. To attract foreign investment, government makes labor laws ________.
    A) Strict  |  B) Flexible  |  C) Equal  |  D) None of these
42. Which city became the face of globalization as an IT hub in India?
    A) Patna  |  B) Bengaluru  |  C) Varanasi  |  D) Surat
43. What is the role of 'Brand' in the era of globalization?
    A) It builds consumer trust and company identity  |  B) It is only a name  |  C) It is useless  |  D) None of these
44. Has globalization reduced 'self-reliance'?
    A) Yes, countries have become more interdependent  |  B) No  |  C) Don't know  |  D) None of these
45. What is a 'Merger' of MNCs with domestic producers?
    A) Working together  |  B) Buying out the local company completely  |  C) Enmity  |  D) None of these
46. What is the main issue of protests against globalization?
    A) Helping the rich  |  B) Ignoring environment and human rights  |  C) Opposition to companies  |  D) All of the above
47. What steps does the government take for 'Export Promotion'?
    A) Increasing tax  |  B) Providing subsidies and technical assistance  |  C) Stopping exports  |  D) None of these
48. How did globalization affect 'internal migration'?
    A) People went to villages  |  B) People are migrating to big cities in search of opportunities  |  C) Migration stopped  |  D) None of these
49. Has WTO been able to ensure a 'Level Playing Field' for all countries?
    A) Yes  |  B) No, developed countries still favor their agriculture with heavy subsidies  |  C) Don't know  |  D) None of these
50. India's share in the world economy ________ after globalization.
    A) Decreased  |  B) Increased  |  C) Remained stable  |  D) Became zero
51. On what does the future of globalization depend?
    A) Only on profit  |  B) On inclusive growth and global cooperation  |  C) On war  |  D) None of these
52. What is the relationship between consumer movement and globalization?
    A) None  |  B) Globalization has inspired consumers to be aware and demand quality  |  C) Consumers ended  |  D) None of these
53. Whose responsibility is Fair Globalization?
    A) Only companies  |  B) Governments and international organizations  |  C) Only public  |  D) None of these
54. What is the importance of 'Outsourcing' in the spread of MNCs?
    A) Saving money  |  B) Getting non-core tasks done from low-cost countries  |  C) Both A and B  |  D) None of these
55. What are the three pillars of India's 'New Economic Policy'?
    A) LPG (Liberalization, Privatization, Globalization)  |  B) Agriculture, Industry, Service  |  C) Gandhi, Nehru, Patel  |  D) None of these
56. Approximately how many countries are members of WTO currently?
    A) 100  |  B) 164  |  C) 200  |  D) 50
57. How has globalization increased 'labor insecurity'?
    A) By giving contract work instead of regular jobs  |  B) By increasing holidays  |  C) By increasing money  |  D) None of these
58. Is the impact of globalization only economic?
    A) Yes  |  B) No, it has deep cultural and social impacts too  |  C) Only political  |  D) None of these
59. How did 'transport' technology help in globalization?
    A) Container services made long-distance trade cheaper  |  B) Vehicles became bigger  |  C) Roads became beautiful  |  D) None of these
60. Why are WTO rules a 'double-edged sword' for developing countries?
    A) Because they give opportunity but take away security  |  B) Because they are fast  |  C) Because they are expensive  |  D) None of these