Economics Practice Quiz 69

Q1.At the international level, what pressure has the WTO put on developing countries?

A. To increase import duties on all goods. B. To restrict foreign investment. C. To liberalise trade and investment. D. To nationalise all private industries.

Q2.What has been the impact of rising competition due to globalisation on many small producers and workers?

A. They have experienced significant benefits and growth. B. They have suffered as a result. C. They have remained unaffected. D. They have formed large international cartels.

Q3.Which of the following is a characteristic closely associated with the process of globalisation in India?

A. Indian buyers having fewer choices of goods. B. Markets in India exclusively selling domestically produced goods. C. Increasing integration with other countries through trade. D. Decreased foreign investment in India.

Q4.What term is used to describe quotas and taxes on imports that are employed to regulate trade?

A. Free trade agreements B. Export subsidies C. Trade barriers D. Foreign exchange controls

Q5.In which of the following sectors do MNCs typically buy at cheap rates from small producers, according to the provided text?

A. Heavy machinery and industrial equipment B. Garments, footwear, and sports items C. Pharmaceutical research and development D. Information technology services

Q6.Which of the following is an example of an Indian company that has invested abroad?

A. Maruti Suzuki B. Reliance Industries C. Tata Motors D. State Bank of India

Q7.Information Technology (IT) has significantly helped in spreading the production of which type of services, as exemplified by call centres in the text?

A. Manufacturing services B. Agricultural services C. Financial services D. Production of services

Q8.In which sector have several MNCs invested in setting up factories in India for production?

A. Textiles B. Pharmaceuticals C. Automobiles D. Electronics

Q9.How have liberalisation of trade and investment policies contributed to the globalisation process?

A. By increasing trade barriers. B. By hindering foreign investment. C. By helping the globalisation process. D. By promoting protectionism.

Q10.What statement does the text make regarding the impact of globalisation?

A. Its impact has been uniform across all sectors. B. Its impact has been largely negative for all countries. C. Its impact has not been uniform. D. Its impact is limited to developed countries only.

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Economics Practice Quiz 69