Categories: MCQ Questions

MCQ Questions for Class 10 Social Science Globalisation and the Indian Economy with Answers

Free PDF Download of CBSE Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy Multiple Choice Questions with Answers. MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 10 Social Science Globalisation and the Indian Economy MCQs with Answers to know their preparation level.

Class 10 Social Science MCQs Chapter 4 Globalisation and the Indian Economy

Globalisation And The Indian Economy Class 10 Question MCQ 1. Removing barriers or restrictions set by the government is called:
(a) Liberalisation
(b) Investment
(c) Fovourable trade
(d) Free trade

Answer

Answer: a


CBSE Class 10 Economics Chapter 4 MCQ Question 2. Rapid integration or interconnection between countries is known as:
(a) Privatisation
(b) Globalisation
(c) Liberalisation
(d) Socialisation

Answer

Answer: b


MCQ Of Globalisation And Indian Economy Question 3. Globalisation has led to improvement in living conditions:
(a) of all the people
(b) of people in the developed countries
(c) of workers in the developing countries
(d) none of the above.

Answer

Answer: c


MCQ On Globalisation And The Indian Economy Question 4. Which one of the following Indian indus¬tries has been hit hard by globalisation?
(a) Information Technology (IT)
(b) Toy making
(c) Jute
(d) Cement

Answer

Answer: b


MCQ On Globalisation Class 10 Question 5. World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries?
(a) Rich countries
(b) Poor countries
(c) Developed countries
(d) Developing countries

Answer

Answer: c


MCQ On Globalisation Question 6. Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment?
(a) International Labour Organisation
(b) International Monetary Fund
(c) World Health Organisation
(d) World Trade Oraganisation

Answer

Answer: d


Globalisation MCQ Class 10 Question 7. Investments made by MNCs are termed as:
(a) Indigenous investment
(b) Foreign investment
(c) Entrepreneur’s investment
(d) None of the above

Answer

Answer: b


Class 10 Economics Chapter 4 MCQ With Answers Question 8. Which of the following is not a feature of a Multi-National Company?
(a) It owns/controls production in more than one nation.
(b) It sets up factories where it is close to the markets.
(c) It organises production in complex ways.
(d) It employs labour only from its own country.

Answer

Answer: d


Globalisation Class 10 MCQ Question 9. Tax on imports is an example of:
(a) Terms of Trade
(b) Collateral
(c) Trade Barriers
(d) ForeignTrade

Answer

Answer: c


MCQ Of Chapter 4 Economics Class 10 Question 10. Which one of the following is not characteristic of‘Special Economic Zone’?
(a) They do not have to pay taxes for long period.
(b) Government has allowed flexibility in labour laws.
(c) They have world class facilities.
(d) They do not have to pay taxes for an initial period of five years.

Answer

Answer: a


Globalisation And The Indian Economy MCQ Question 11. Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of:
(a) 2 years
(b) 5 years
(c) 4 years
(d) 10 years

Answer

Answer: b


MCQ On Globalization Pdf Question 12. It refers to the globalisation which creates opportunities for all and ensures that its benefits are better shared.
(a) Privatisation
(b) Special Economic Zones (SEZs)
(c) World Trade Organisation (WTO)
(d) Fair globalisation

Answer

Answer: d


Globalisation MCQ Question 13. An MNC is a company that owns or controls production in
(a) one country
(b) more than one country
(c) only developing countries
(d) only developed countries

Answer

Answer: b


MCQ Of Chapter Globalisation And Indian Economy Question 14. The process of rapid integration or interconnection between countries through free trade, free mobility of capital and labour is called
(a) Foreign trade
(b) Liberalisation
(c) Globalisation
(d) Privatisation

Answer

Answer: c


Objective Type Questions On Globalization Question 15. What was the main channel connecting countries in the past?
(a) Labour
(b) Religion
(c) Technology
(d) Trade

Answer

Answer: d


Multiple Choice Questions On Globalisation Question 16. ‘The impact of Globalisation has not been fair.’ Who among the following people have not benefitted from globalisation?
(a) Well off consumers
(b) Small producers and workers
(c) Skilled and educated producers
(d) Large wealthy producers

Answer

Answer: b


Class 10 Economics Chapter 4 MCQ With Answers Question 17. What is the main motive behind the investments of MNCs?
(a) The main motive is to increase their assets and earn profits.
(b) The main motive is the welfare of the poor people.
(c) The main motive of an MNCs is to offer financial support to the government of their country.
(d) The main motive is to benefit foreign countries.

Answer

Answer: a


MCQs On Globalisation Class 10 Question 18. “MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below
(a) Availability of cheap skilled and unskilled labour
(b) Proximity to markets
(c) Presence of a large number of local competitors
(d) Favourable government policies

Answer

Answer: c


Globalization MCQs With Answers Question 19. WTiich Indian company was bought over by Cargill Foods—a large American MNC? Pick out the name from the alternatives provided
(a) Amul
(b) Fun Foods Ltd.
(c) Agro Tech Foods Ltd.
(d) Parakh Foods

Answer

Answer: d


MCQ On Economics Class 10 With Answers Question 20. WTiich organisation supports liberalisation of foreign trade and investments in India?
(a) International Labour Organisation (ILO)
(b) World Bank
(c) World Trade Organisation (WTO)
(d) International Monetary Fund (IMF)

Answer

Answer: c


Globalization MCQ Question 21. In which year did the government decide to remove barriers on foreign trade and investment in India?
(a) 1993
(b) 1992
(c) 1991
(d) 1990

Answer

Answer: c


MCQ On Globalization Question 22. Which of the following industries have been hard hit by foreign competition?
(a) Dairy products
(b) Leather industry
(c) Cloth industry
(d) Vehicle industry

Answer

Answer: a


MCQ On Globalisation And Liberalisation Question 23. _____________ refers to all those different economic reforms or policy measures and changes which aim at increasing the productivity and efficiency by creating an environment of competition in the economy.

Answer/Explanation

Answer:
Explanation: New Economic Policy


Economics Class 10 MCQ Question 24. Indian government felt the need for removing barriers on foreign trade and foreign investment in ____________ .

Answer/Explanation

Answer:
Explanation: 1991


Globalization Multiple Choice Questions And Answers Question 25. A _____________ is a company that owns or controls production in more than one nation/country.

Answer/Explanation

Answer:
Explanation: Multinational Corporation (MNC)


Globalisation And The Indian Economy Class 10 Questions Answers Question 26. _____________ refers to exchange of goods, i.e., purchase and sale, across geographical boundaries of the countries.

Answer/Explanation

Answer:
Explanation: Foreign trade


27. The main aim of World Trade Organisation is _____________ .

Answer/Explanation

Answer:
Explanation: To liberalise international trade


28. ‘Increased job opportunities’ is an impact of _____________ .

Answer/Explanation

Answer:
Explanation: Globalisation


29. The industrial zones which are set up to attract the foreign investment are known as _____________ .

Answer/Explanation

Answer:
Explanation: Special Economic Zones (SEZs)


30. ‘Increase in GNP’ is a positive impact of liberalisation. (True/False)

Answer/Explanation

Answer:
Explanation:
True, as with the trade and investment barriers being removed, international trade and investments would get promoted.


31. ‘Deregulation of Industries’ is a feature of economic reforms introduced in 1991 in India. (True/False)

Answer/Explanation

Answer:
Explanation:
True, as the government imposes less restrictions and is more liberal.


32. Rapid integration or interconnection between countries is known as socialisation. (True/False)

Answer/Explanation

Answer:
Explanation:
False, as rapid integration or interconnection between countries is known as globalisation.


33. World Trade Organisation (WTO) was started at the initiative of developing countries. (True/False)

Answer/Explanation

Answer:
Explanation:
False, as World Trade Organisation (WTO) was started at the initiative of developed countries.


34. ‘Ensuring that rules are being followed’ is a function of World Trade Organisation. (True/False)

Answer/Explanation

Answer:
Explanation:
True, as it is an international body looking after the free-trade between the numbers.


35. As on July 2016, 175 countries are the members of World Trade Organisation. (True/False)

Answer/Explanation

Answer:
Explanation:
False, as on July 2016, nearly 165 countries are the members of World Trade Organisation.


36. UNICEF is one such organisation whose aim is to liberalise international trade. (True/False)

Answer/Explanation

Answer:
Explanation:
False, as WTO is one such organisation whose aim is to liberalise international trade and not UNICEF.


37. Define a Multinational Corporation (MNC).

Answer/Explanation

Answer:
Explanation:
A Multinational Corporation (MNC) is a company that owns or controls production in more than one nation.


38. Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources? [All India 2016]

Answer/Explanation

Answer:
Explanation:
To redu.ee their cost of production and increase their profits.


39. Define investment.

Answer/Explanation

Answer:
Explanation:
Money that is spent to buy assets such as land, building, machines and other equipments is called investment.


40. What is foreign investment?

Answer/Explanation

Answer:
Explanation:
Investment made by MNCs to buy assets like land, building, machines and other equipments is called foreign investment.


41. Mention two benefits that local companies get when they set up production units in association with the MNCs.

Answer/Explanation

Answer:
Explanation:
The benefits that local companies can get are:
(a) MNCs can provide money for additional investment like buying latest and new machines for faster production.
(b ) MNCs might bring the latest technology of production with them.


42. How are the MNCs spreading their production across the globe?

Answer/Explanation

Answer:
Explanation:
MNCs are spreading their production across the globe by setting up partnerships with local companies, by using the local companies for supplies and by closely competing with local companies or buying them up.


43. What happens to the sales of the Indian toys when Chinese toys invade the domestic market?

Answer/Explanation

Answer:
Explanation:
As a result of the invasion of Chinese toys in the domestic market, the sale of Indian toys fall.


44. Define globalisation.

Answer/Explanation

Answer:
Explanation:
Globalisation is the process of rapid integration or interconnection between countries.


45. Due to which reason the latest models of different items are available within our reach? [Foreign 2016]

Answer/Explanation

Answer:
Explanation:
Due to Globalisation, the latest variety of different items is available within our reach.


46. Give one major factor that has stimulated the globalisation process.

Answer/Explanation

Answer:
Explanation:
Rapid improvement in technology has stimulated the globalisation process.


47. What is meant by trade barrier? [All India 2016]

Answer/Explanation

Answer:
Explanation:
Tax on imports by the government is called trade barrier. It is called a barrier because some restrictions have been set up.


48. How government can use trade barriers?

Answer/Explanation

Answer:
Explanation:
Government can use trade barriers to increase or decrease foreign trade and to decide what kind of goods and how much of each good should come into the country.


49. Why had the Indian Government put barriers to foreign trade and foreign investment after independence? State any one reason. [Delhi 2015]

Answer/Explanation

Answer:
Explanation:
To save domestic producers from international competition so that they may develop.


50. Why did the Indian Government remove barriers to a large extent on foreign trade and foreign investment? [Foreign 2015]

Answer/Explanation

Answer:
Explanation:
Indian Government felt that time has come for Indian producers to compete in international markets.


51. What is liberalisation? [All India 2017(C)]

Answer/Explanation

Answer:
Explanation:
Removing barriers or restrictions set by the government is known as liberalisation.


52. What is the aim of World Trade Organisation?

Answer/Explanation

Answer:
Explanation:
The aim of World Trade Organisation is to liberalise international trade.


53. How many countries of the world were members of the World Trade Organisation in July 2016?

Answer/Explanation

Answer:
Explanation:
As on July 2016, about 165 countries of the world were the members of the World Trade Organisation.


54. Who forced the developing countries to remove the trade barriers?

Answer/Explanation

Answer:
Explanation:
World Trade Organisation (WTO) forced the developing countries to remove the trade barriers.


55. How has globalisation benefited the well- off consumers?

Answer/Explanation

Answer:
Explanation:
Globalisation benefited the well-off consumers as there is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these consumers, today, enjoy much higher standards of living than was possible earlier.


56. What are the benefits of goods or products produced by the MNCs?

Answer/Explanation

Answer:
Explanation:
The goods or products produced by the MNCs have a larger number of well-off buyers. In MNCs, new jobs have been created. Also, local companies supplying raw materials etc. to these industries have prospered.


57. Give two examples of Indian Companies which have emerged as Multinational Companies.

Answer/Explanation

Answer:
Explanation:
Infosys (IT) and Tata Motors (automobiles)


58. Which industries have been hit hard by the competition?

Answer/Explanation

Answer:
Explanation:
Industries which have been hit hard by the competition are small-scale industries.


59. What are SEZs?

Answer/Explanation

Answer:
Explanation:
Indian government has taken special steps to attract the foreign investors to invest in India. Industrial Zones called Special Economic Zones (SEZs) are being set up for the same purpose. SEZs are to have world class facilities such as electricity, water, roads and transport.


60. What special benefit is offered to the companies setting up their production units in the Special Economic Zones (SEZs)?

Answer/Explanation

Answer:
Explanation:
The companies which set up their production units in the SEZs, do not have to pay taxes for an initial period of five years.


61. What do you mean by fair globalisation?

Answer/Explanation

Answer:
Explanation:
Fair globalisation means creating opportunities for all. It also ensures better sharing of the benefits of globalisation.


62. What do you think can be done so that trade between countries is more fair?

Answer/Explanation

Answer:
Explanation:
All countries should remove trade barriers to make for a fair international trade. Developed countries should desist from forcing the developing countries in agreements which they themselves may not obey.


63. Differentiate between investment and foreign investment. [Delhi 2016]

Answer/Explanation

Answer:
Explanation:
The money that is spent to buy assets such as land, building, machine and other equipments is known as investment whereas investment made by a MNC is known as foreign investment.


64. What is the basic function of foreign trade?

Answer/Explanation

Answer:
Explanation:
Foreign trade creates an opportunity for the producers to reach beyond the domestic market, i.e., markets of their own countries.


65. What prompts people to move from one country to another?

Answer/Explanation

Answer:
Explanation:
People usually move from one country to another in search of better income, jobs and education.


66. Which factor is responsible for the faster delivery of goods across the world in recent times?

Answer/Explanation

Answer:
Explanation:
Improvement in transportation technology.


67. After independence, which items were allowed to be imported by the government of India?

Answer/Explanation

Answer:
Explanation:
The government of India allowed imports of only essential items such as machinery, fertilizers, petroleum etc. after independence.


68. After independence, which items were allowed to be imported by the government of India?

Answer/Explanation

Answer:
Explanation:
MNCs have been interested in industries such as cell phones, automobiles, electronics, softdrinks and fast food.


69. What has brought about the availability of greater choice of goods in the market for the consumers?

Answer/Explanation

Answer:
Explanation:
The entry of MNCs in the market has led to the availability of greater choice of goods for the consumers.


70. In which two different forms do we participate in the market?

Answer/Explanation

Answer:
Explanation:
We participate as producers and consumers in the market.


We hope the given MCQ Questions for Class 10 Social Science Globalisation and the Indian Economy with Answers will help you. If you have any query regarding CBSE Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy Multiple Choice Questions with Answers, drop a comment below and we will get back to you at the earliest.

Kishen

Recent Posts

NCERT Books Class 10 English First Flight PDF Download [Updated for 2022-23]

First Flight class 10 NCERT English Book Chapter 1 A Letter to God Chapter 2…

3 weeks ago

NCERT Books for Class 10 Maths PDF Download [2022-23 Updated]

NCERT Books Class 10 Maths: The National Council of Educational Research and Training (NCERT) publishes…

3 weeks ago

Words and Expressions Class 9 Solutions | NCERT Class 9 Words and Expressions Solutions

Class 9 English Workbook Words and Expressions Solutions Words and Expressions Class 9 Solutions Unit…

1 month ago

Words and Expressions Class 10 Solutions | NCERT Class 10 Words and Expressions Solutions

Class 10 English Workbook Words and Expressions Solutions Words and Expressions Class 10 Solutions Unit…

1 month ago

Best Trading Courses in India 2022 | Online Stock Trading Degree For Beginners, Certification, Fees

Trading Courses in India: Trading courses are specially designed for students eager to learn about the…

1 month ago

Animation And Multimedia Courses in India 2022 | Career Scope, Salary, Top Colleges

Animation and Multimedia Courses: In recent years, animation and multimedia courses have experienced tremendous growth.…

1 month ago