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.
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