Globalisation And The Indian Economy Question MCQ
- What is liberalisation? [All India 2017(C)]
Answer:
Explanation:
Removing barriers or restrictions set by the government is known as liberalisation.
- What is the aim of World Trade Organisation?
Answer:
Explanation:
The aim of World Trade Organisation is to liberalise international trade.
- How many countries of the world were members of the World Trade Organisation in July 2016?
Answer:
Explanation:
As on July 2016, about 165 countries of the world were the members of the World Trade Organisation.
- Who forced the developing countries to remove the trade barriers?
Answer:
Explanation:
World Trade Organisation (WTO) forced the developing countries to remove the trade barriers.
- How has globalisation benefited the well- off consumers?
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.
- What are the benefits of goods or products produced by the MNCs?
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.
- Give two examples of Indian Companies which have emerged as Multinational Companies.
Answer:
Explanation:
Infosys (IT) and Tata Motors (automobiles)
- Which industries have been hit hard by the competition?
Answer:
Explanation:
Industries which have been hit hard by the competition are small-scale industries.
- What are SEZs?
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.
- What special benefit is offered to the companies setting up their production units in the Special Economic Zones (SEZs)?
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.
