Globalisation and the Indian Economy MCQ Quiz

30 questions

1. What is globalisation?

   1. Integration of economies across countries
   2. Company operating in multiple countries
   3. Partnerships, acquisitions and production units
   4. World Trade Organization

2. What is an MNC?

   1. Competition from imports and large firms
   2. Restriction on trade such as tariff or quota
   3. Company operating in multiple countries
   4. Credit, technology, infrastructure and training

3. Why do MNCs locate abroad?

   1. Contracting activities to external providers
   2. More equitable distribution of benefits
   3. Markets, resources, labour and cost advantages
   4. Encourage efficiency and quality

4. What is foreign investment?

   1. Investment from another country
   2. Access to markets and capabilities
   3. Trade and investment links
   4. Production stages spread across countries

5. How do MNCs organise production?

   1. Partnerships, acquisitions and production units
   2. Contracting activities to external providers
   3. Jobs but also labour-cost pressure
   4. Skills, lower costs and language capabilities

6. How can MNCs affect local producers?

   1. Company operating in multiple countries
   2. Encourage efficiency and quality
   3. Competition and new opportunities
   4. Investment from another country

7. What is liberalisation?

   1. Partnerships, acquisitions and production units
   2. 1991
   3. Reduction of trade and investment restrictions
   4. Tax on imports or exports

8. When did major Indian liberalisation begin?

   1. Reduction of trade and investment restrictions
   2. 1991
   3. Contracting activities to external providers
   4. Competition and new opportunities

9. What did liberalisation increase?

   1. Trade and investment links
   2. More equitable distribution of benefits
   3. Jobs but also labour-cost pressure
   4. To encourage competition and trade

10. What is a trade barrier?

    1. More equitable distribution of benefits
    2. Restriction on trade such as tariff or quota
    3. Integration of economies across countries
    4. Jobs but also labour-cost pressure

11. What is a tariff?

    1. Tax on imports or exports
    2. Integration of economies across countries
    3. Investment from another country
    4. More variety and sometimes lower prices

12. Why reduce trade barriers?

    1. Restriction on trade such as tariff or quota
    2. Expands production and business links
    3. Encourage efficiency and quality
    4. To encourage competition and trade

13. What is WTO?

    1. Expands production and business links
    2. Encourage efficiency and quality
    3. Credit, technology, infrastructure and training
    4. World Trade Organization

14. Consumer benefit of globalisation?

    1. Credit, technology, infrastructure and training
    2. World Trade Organization
    3. Investment from another country
    4. More variety and sometimes lower prices

15. Small producer challenge?

    1. Faster communication and coordination
    2. Restriction on trade such as tariff or quota
    3. Competition from imports and large firms
    4. IT and business services

16. How does technology promote globalisation?

    1. Credit, technology, infrastructure and training
    2. Production stages spread across countries
    3. Faster communication and coordination
    4. Resources and capabilities differ

17. What is outsourcing?

    1. Company operating in multiple countries
    2. Trade and investment links
    3. Access to markets and capabilities
    4. Contracting activities to external providers

18. Why outsource to India?

    1. Skills, lower costs and language capabilities
    2. Jobs but also labour-cost pressure
    3. Trade and investment links
    4. Credit, technology, infrastructure and training

19. What is a global production network?

    1. Faster communication and coordination
    2. Integration of economies across countries
    3. Production stages spread across countries
    4. Restriction on trade such as tariff or quota

20. What can globalisation bring workers?

    1. Jobs but also labour-cost pressure
    2. World Trade Organization
    3. More variety and sometimes lower prices
    4. Competition and new opportunities

21. Why are standards important?

    1. 1991
    2. Markets, resources, labour and cost advantages
    3. Skills, lower costs and language capabilities
    4. Quality, safety and compatibility

22. What is fair globalisation?

    1. Markets, resources, labour and cost advantages
    2. Reduction of trade and investment restrictions
    3. Competition from imports and large firms
    4. More equitable distribution of benefits

23. How can government support small producers?

    1. Skills, lower costs and language capabilities
    2. Reduction of trade and investment restrictions
    3. Credit, technology, infrastructure and training
    4. Competition and new opportunities

24. What service is a major Indian export?

    1. IT and business services
    2. Trade and investment links
    3. Company operating in multiple countries
    4. Access to markets and capabilities

25. Why do MNCs buy local firms?

    1. Quality, safety and compatibility
    2. Competition and new opportunities
    3. Jobs but also labour-cost pressure
    4. Access to markets and capabilities

26. What can import competition do?

    1. More variety and sometimes lower prices
    2. Access to markets and capabilities
    3. Encourage efficiency and quality
    4. Markets, resources, labour and cost advantages

27. Why are gains from globalisation unequal?

    1. Resources and capabilities differ
    2. Production stages spread across countries
    3. Encourage efficiency and quality
    4. IT and business services

28. What does foreign investment do?

    1. Expands production and business links
    2. Credit, technology, infrastructure and training
    3. Investment from another country
    4. Reduction of trade and investment restrictions

29. What is a global market?

    1. World Trade Organization
    2. Market connected across countries
    3. Faster communication and coordination
    4. Encourage efficiency and quality

30. Why is connectivity important to globalisation?

    1. Reduction of trade and investment restrictions
    2. It reduces barriers to information and trade
    3. Production stages spread across countries
    4. Expands production and business links

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