INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

Subscribe our YouTube Channel EDUCATION WORLD EW

DOWNLOAD OUR MOBILE APPLICATION

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

Basic term

• Gross Domestic Product: Value of all goods and services produced within a country during a particular year.

• Intermediate Goods: Goods that are used up in producing final goods.

• Organized Sector: Enterprises where terms of employment are regular.

• Primary Sector: Sector producing goods by exploiting natural resources.

• Private Sector: Sector in which ownership of assets and delivery of services is in the hands of the private individuals.

• Public Sector: Sector where the government owns most of the assets.

• Secondary Sector: Sector in which natural resources are changed into other forms through manufacturing.

• Service Sector: Essential services in the tertiary sector like teachers, administrators, etc.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• Tertiary Sector: Activities that help in the development of primary and secondary sectors.

• Under Employment: A situation in which there are more people on a job than necessary.

• Call Center: An office equipped with telecom facilities and access to internet to provide information and support to customers abroad.

• Foreign Investment: Investment made by MNCs.

• Globalization: Process of integration or inter connection between countries.

• Liberalization: Removing restrictions on foreign trade set by government.

• Multinational Corporation: Company that owns or controls production in more than one nation.

• Special Economic Zones: Industrial zones with world class facilities for electricity, water roads, transport storage, etc.

• World Trade Organization: An organization aiming to liberalize international trade.

• There can be various criteria for classifying economic activities by sectors.

• The agricultural or the primary sector generates wealth out activities that are dependent on natural factors.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• The secondary or industrial sector uses goods produced in the primary sector as raw materials. The tertiary or the services sector helps in the development of both other sectors.

• The three sectors are inter-dependent. Agriculture supplies raw materials to industries and is helped by the services sector. Industries provide agricultural equipments while service sectors provide finance. Each sector has an assigned role and acts in combination with other sectors in producing goods and services for consumption.

• The size of an economy can be determined by adding up the contribution of different sectors to the national income. In this process we must avoid double counting.

• In India the share of the primary sector to gross domestic product of the country has been declining. The share of secondary sector has shown a steady increase while the share of the service sector has improved vastly.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• The increase in expenditure on welfare oriented policies has led to an unusual increase in the contribution of the services sector.

• The primary sector employs half the country’s population but produces just a quarter of the GDP. The agriculture sector suffers from a high degree of under employment. The same is the case with unskilled workers in the urban situations.

• Provision of cheap loans to farmers can enable them to make improvements on their land. That could provide employment to more members of the family. Setting up of rural based small scale industrial hubs near the villages can also help in reducing rural unemployment.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• The National Employment Guarantee Scheme is a quick fix measure for reducing the impact of rural unemployment.

• Job security and codified privileges are exclusive to workers in organized sectors of economy. They comprise only 7% of the total work force.

• The unorganized sector offers no such facilities to its workers even though the sector contributes to GDP far in excess of the contribution of the organised sector. Economic development can be meaningful only if the workers in the unorganized sectors are also covered by schemes and legislations as applicable to workers in organized sectors The need for protection against exploitation is much higher in their case.

• Sectors can also be classified by ownership (Public or Private). Public ownership becomes necessary where huge investments are needed in State interest and where the gestations periods are likely to be very long. Trading by State may also become necessary for protecting the poor against the vagaries of market forces especially in the field of necessities of life.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• Goods imported from a large number of foreign countries are now freely available in Indian markets.

• Foreign companies now prefer to get their products manufactured in countries like China where labour costs are low. They also prefer to outsource their business operations to countries like India for similar reasons.

• Multinational companies no longer manufacture goods in their country and export the way they did many years ago. They enter into collaboration with partners in developing countries where operational costs are low and where they have a potential market.

• In some cases they take over a company operating in some other country and then expand their operations. The MNCs have vast financial resources and are as such in a position to determine the labour costs and product prices that suit them. Foreign trade is almost as old as human civilization.

• Foreign trade expands the available choices for the consumers. It also helps in equalizing prices over different parts of the world competition improves quality and lowers prices.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• The process of integration between different countries on the globe for purposes of trade is referred to as globalization. It promotes economic development in countries short of capital and technology but rich in labour and natural resources.

• Developments in communication technologies have greatly helped in expansion of foreign trade.

• In some cases it may be necessary to protect local manufacturers from imports. Countries set up trade barriers to protect their national interest. They may be in the form of high import duties or quota restrictions.

• With the establishment of the World Trade Organization, member countries are not expected to raise barriers to free trade. However, countries like USA are unwilling to stop subsidizing their own farmers. However, they do expect that India should allow their insurance and banking companies’ free access in India.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

• Globalization has been a mixed blessing to countries like India. More variety of goods has become available to India consumers. However, unable to face competition, a number of Small Scale industrialists have closed down their shops. Globalization has created a new type of jobs at the Call Centers. Foreign Direct Investment is flowing into India and accelerating the tempo of industrial development.

• Foreign companies want India to relax their labour laws. They also expect government to acquire land for them so that they set up joint enterprises. In the absence of any national insurance schemes, the workers cannot be exposed to the hire and fire at will culture. Similarly, agricultural land cannot be handed over to foreign industrialists as that would displace the farmers who would have nowhere else to go for making a living.

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

Table of Contents

INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

1. What is the other name of Primary sector?

(a) Service sector

(b) Industrial sector

(d) None of them

Ans. (c)

2. What does the secondary sector deal with?

(a) Manufactured goods

(b) Semi-finished goods

(d) Agricultural goods

Ans. (a)

3. When we produce a good by exploiting natural resources, it is an activity of the ………………sector.

(a) Primary

(b) Secondary

(d) None of them

Ans. (a)

4. What does the tertiary sector do?

(a) Provides services and goods

(b) Provides natural goods

(d) Provides minerals

Ans. (a)

5. What are Intermediate Goods?

(a) These goods are used up in producing final goods and services

(b) These goods are directly exploited from nature

(d) None of them

Ans. (a)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

6. GDP is the total value of ……. product during a particular year.

(a) All goods and services

(b) All final goods and services

(d) None of them

Ans. (b)

7. In terms of GDP the share of tertiary sector in 2003 was

(a) Between 20% to 30%

(b) Between 30% to 40%

(d) 70%

Ans. (c)

8. Why is tertiary sector becoming so important in India?

(a) In a developing country, the government has to take responsibility for the provision of basic necessities.

(b) Greater the development of the primary and secondary sectors more would be the demand for tertiary sector.

(d) All of them

Ans. (d)

9. Are Disguise Unemployment and Under-employment same?

(a) No

(b) Yes

(d) Can’t say

Ans. (b)

10. What is the ‘Right to Work’ implementation called in terms of act?

(a) MRTP

(b) WHO

(d) UNESCO

Ans. (c)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

11. What was aimed in NREGA 2005?

(a) People in need of work have been guaranteed 100 days of employment in a year by government.

(b) If the government fails in its duty to provide employment, it will give unemployment allowances to the people.

(d) None of them

Ans. (c)

12. Besides the need of more work, there is also a need for more ……..and………….. of the workers in unorganized sector.

(a) Protection; support

(b) Support; entertainment

(d) None of them

Ans. (a)

13. Which sector is still government owned and has no other private owned sector for the same?

(a) Railways

(b) Airways

(d) Telecommunication

Ans. (a)

14. In general, where does MNC prefer to set up production?

(a) Where it is close to markets

(b) Where there is skilled and unskilled labour available at low costs

(d) All of them

Ans. (d)

15. What is the major benefit to the local company of a joint production with MNC?

(a) MNC’s can provide money for additional investments

(b) MNC’s might bring with them latest technology for production

(d) Both (1) and (2)

Ans. (d)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

16. What is the basic function of foreign trade?

(a) Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.

(b) Foreign trade creates an opportunity for only the buyer to approach wide variety.

(d) None of them

Ans. (a)

17. Information and communication technology has played a major role in spreading out…… across countries.

(a) Manufacturing of goods

(b) Processing data

(d) Improvement in communication

Ans. (c)

18 Tax on imports is an example of…..

(a) Trade enhancer

(b) Trade barrier

(d) None of them

Ans. (b)

19. How can government use a trade barrier?

(a) To increase or decrease foreign trade

(b) To decide what kinds of goods should come into the country

(d) All of them

Ans. (d)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

20 What is the aim of WTO?

(a) To liberalize international trade

(b) To support only the least developed countries

(d) All of them

Ans. (a)

21.

Column – I	Column – II
(A) Primary Sector	(p) Help to develop other sector
(B) Secondary Sector	(q) Generate service
(C) Tertiary Sector	(r) Produce natural goods
(D) Service sector	(s) Produce manufactured goods

(a) A

(r); B

(p); C

(s); D

(q)

(b) A

(q); B

(s); C

(r); D

(p)

(s): B

(r); C

(p); D

(q)

(d) A

(r); B

(s); C

(p); D

(q)

Ans. (d)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

22.

Column – I	Column – II
(A) Unirrigated land	(p) Settling up agro based mills
(B) Debt burden	(q) Procurement of Foodgrains by goods
(C) No job in the off season	(r) Banks to provide credit with low centers.
(D) Low prices for cops	(s) Construction of canals by the government

(a) A

(r); B

(q); C

(p); D

(s)

(b) A

(s); B

(r); C

(p); D

(q)

(q): B

(p); C

(s); D

(r)

(d) A

(p); B

(s); C

(r); D

(q)

Ans. (b)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

23.

Column – I	Column – II
(A) Vegetable vendor	(p) Organised sector
(B) Teacher	(q) Primary sector
(C) Cobbler	(r) Public sector
(D) Soldier	(s) Private sector

(a) A

(q); B

(p); C

(s); D

(r)

(b) A

(s); B

(q); C

(p); D

(r)

(p): B

(s); C

(q); D

(p)

(d) A

(r); B

(q); C

(s); D

(p)

Ans. (a)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

24.

Column – I	Column – II
(A) A. MNC	(p) Attract foreign investment
(B) SEZ	(q) Arbitrator handling trade disputes
(C)WTO	(r) Total value of all goods and services in a year
(D) GDP	(s) Controls or owns production in more than one country.

(a) A

(s); B

(p); C

(r); D

(q)

(b) A

(r); B

(s); C

(q); D

(p)

(q): B

(p); C

(s); D

(r)

(d) A

(s); B

(p); C

(q); D

(r)

Ans. (d)

25. Consider the following statements:

(i) Globalisation has enabled many companies to enlarge as multinationals.

(ii) Foreign trade gives opportunity to the producers to reach buyers in domestic market.

(iii) Globalisation has led to improvement? living condition of workers in the developing countries.

(iv) Globalisation involves increase of taxes imports. Which of the above statements are correct?

(a) (i), (iii) and (iv)

(b) (i) and (ii)

(d) (i), (ii) and (iv)

Ans. (b)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

26. With reference to multi-national companies,

Consider the following statements:

(i) It controls or owns production in more than one nation.

(ii) It employs labour only from its own country. Which of the above statement(s) is/ are correct?

(a) (i) only

(b) (ii) only

(d) Neither (i) nor (ii)

Ans. (a)

27. Consider the following statements:

(i) Under this Act, all there people who are able and are in need of work have been guaranteed 100 days of employment in one year.

(ii) It is implemented in 200 districts and also called right to work.

Which of the above statement(s) is/are correct?

(a) (i) only

(b) (ii) only

(d) Neither (i) nor (ii)

Ans. (c)

28. Assertion: Workers in the unorganised sectors suffer from economic exploitation and social discrimination.

Reason: Workers belonging to the scheduled castes, scheduled tribes, backwards communities work in large numbers

(a) Both A and R are individually true and R is the correct explanation of A.

(b) Both A and R are individually true but R is not the correct explanation of A.

(d) A is false but R is true.

Ans. (a)

29. Assertion: Foreign trade gives opportunity to the buyers to reach producers in the domestic market.

Reason: Special economic zones have been set up to attract foreign companies to invest in India.

(a) Both A and R are individually true and R is the correct explanation of A.

(b) Both A and R are individually true but R is not the correct explanation of A.

(d) A is false but R is true.

Ans. (d)

30. What is the correct definition of unemployment?

(a) It is a situation when people do not want to work.

(b) It is a situation when people are not paid for their work.

(d) It is a situation when people are working less than what they are capable of doing.

Ans. (a)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

31. What is the correct definition of multi-national companies?

(a) It is a company what owns or controls production in more than one nation.

(b) It is a company that owns or controls production is one nation.

(d) It is a company that owns production in the country and controlled by the

Ans. (a)

32. On the basis of following features identify the correct option

(i) It covers activities in which natural products are changed into other forms.

(ii) It is also called industrial sector –

(iii) It is associated with manufacturing goods.

(iv) Constructions, hotels are its example.

(a) Primary sector

(b) Secondary sector

(d) Public sector

Ans. (b)

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

ALSO VISIT:

Also study:	Also study:	Attempt the Quiz	Attempt the Quiz	Attempt the Quiz
INDUS VALLEY CIVILIZATION IMPORTANT MCQS	NTSE Syllabus	Indian Economy and globalisation	Quiz on Money and Credit, Consumer rights	Quiz on poverty and food security
Indian economy and globalisation	Money and credit	Basic concepts of economics	Development and people as resource
Basic concepts of economics	Poverty and food security
Development

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

Subscribe our YouTube Channel EDUCATION WORLD EW

DOWNLOAD OUR MOBILE APPLICATION

DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

INDIAN ECONOMY AND GLOBALISATION MCQ FOR NTSE

Related Posts

Leave a Comment Cancel Reply