cbse- class 10 - economics - Globalisation and the Indian Economy

Globalization and the Indian Economy (Mind Maps)
A typo in mindmap. Read it as  "Ways through which ..."

Foreign Trade Mind Map

Q1: What were the reasons for putting barrier to trade?
Answer:

1. Indian government had put barriers on foreign trade in order to protect domestic trade and produce from foreign industries.
2. Later it was felt that competition would improve the performance and quality of domestic producers as they would have to improve their quality by adopting  the new economic policy.
3. It was also felt the domestic manufacturers would invest more in research and development and would become capable of selling their products at international market by competing with their foreign counter parts.

Special Economic Zones (SEZ)

MCQs:

Q2(CBSE 2011): Which one of the following is a major benefit of joint production between a local company and a Multi-National Company ?

(a) MNC can bring latest technology in the production
(b) MNC can control the increase in the price
(c) MNC can buy the local company
(d) MNC can sell the products under their brand name


Q3(CBSE 2011): Which one of the following is not true regarding the World Trade Organization? 

(a) It allows free trade to all countries without any trade barriers.
(b) Its aim is to liberalise international trade.
(c) It establishes rules regarding international trade.
(d) WTO rules have forced the developing countries to remove trade barriers.

Q4(CBSE 2011): Rapid integration or inter connection between countries is known as

(a) Privatisation 
(b) Globalisation
(c) Liberalisation 
(d) Socialisation




Q5(CBSE 2011): Which one of the following has benefited least because of globalisation in India?

(a) Agriculture Sector
(b) Industrial Sector
(c) Service Sector
(d) Secondary Sector


Q6: Till 1950, globalisation meant

(a) only foreign trade
(b) only foreign investment
(c) both (a) and (b)
(d) none of these


Q7: Which of the following has played a big role in organizing production across the coutries?


(a) WTO
(b) Domestic companies
(c) Information technology
(d) Consumers






Answers: 

2: (a) MNC can bring latest technology in the production
3: (a) It allows free trade to all countries without any trade barriers.
4: (b) Globalisation 
5: (a) Agriculture Sector 
6: (a) only foreign trade
7: (c) Information technology