Class 10 Economics Important MCQs - Chapter 4: Globalisation and the Indian economy
MCQs on Globalisation and the Indian Economy
A) Cultural exchange
B) Integration between countries through trade and investment
C) Political alliances
D) Environmental cooperation
Answer: B) Integration between countries through trade and investment
Which of the following has been a major force in the globalisation process?
A) Local businesses
B) Multinational Corporations (MNCs)
C) Non-Governmental Organizations (NGOs)
D) Government agencies
Answer: B) Multinational Corporations (MNCs)
What was one of the main reasons for India to liberalise its economy in the 1990s?
A) To increase government control
B) To reduce foreign investment
C) To promote competition and efficiency
D) To isolate from global markets
Answer: C) To promote competition and efficiency
Which international organization was established to promote free trade?
A) IMF
B) WTO
C) UN
D) World Bank
Answer: B) WTO
What has been a significant impact of globalisation on Indian consumers?
A) Limited choices
B) Higher prices
C) Greater choice and lower prices
D) Decreased quality of goods
Answer: C) Greater choice and lower prices
Which sector has seen significant MNC investment in India?
A) Agriculture
B) Textiles
C) Information Technology
D) All of the above
Answer: D) All of the above
What is one of the criticisms of globalisation?
A) It promotes cultural exchange
B) It benefits only the wealthy
C) It increases job opportunities
D) It enhances competition
Answer: B) It benefits only the wealthy
How has globalisation affected local producers in India?
A) They have become more competitive
B) They have been completely eliminated
C) They have seen no change
D) They have increased their market share
Answer: A) They have become more competitive
What is one of the factors that facilitated globalisation?
A) Decrease in technology
B) Liberalisation of trade policies
C) Increase in tariffs
D) Isolationist policies
Answer: B) Liberalisation of trade policies
Which of the following is NOT a benefit of globalisation?
A) Increased consumer choice
B) Economic growth
C) Job creation in all sectors
D) Cultural homogenization
Answer: D) Cultural homogenization
What has been a major effect of MNCs in India?
A) Decrease in foreign investment
B) Creation of new jobs
C) Reduction in product variety
D) Increased government control
Answer: B) Creation of new jobs
Which of the following industries has NOT been significantly impacted by globalisation?
A) Telecommunications
B) Agriculture
C) Traditional crafts
D) Information Technology
Answer: C) Traditional crafts
What is a common argument in favor of globalisation?
A) It leads to job losses
B) It increases economic inequality
C) It fosters innovation and efficiency
D) It reduces consumer choices
Answer: C) It fosters innovation and efficiency
What role do international organizations like the WTO play in globalisation?
A) They impose tariffs
B) They regulate trade agreements
C) They restrict foreign investment
D) They promote isolationism
Answer: B) They regulate trade agreements
Which of the following is a challenge faced by developing countries in a globalised economy?
A) Access to technology
B) Competition with developed countries
C) Increased foreign investment
D) Improved infrastructure
Answer: B) Competition with developed countries
What has been a significant change in the Indian market due to globalisation?
A) Decrease in foreign brands
B) Increase in local monopolies
C) Wider variety of products available
D) Reduction in consumer spending
Answer: C) Wider variety of products available
Which of the following is a negative impact of globalisation on local industries?
A) Increased competition
B) Access to international markets
C) Improved technology
D) Job creation
Answer: A) Increased competition
What is one of the main reasons developed countries want developing countries to liberalise their trade?
A) To protect local industries
B) To increase their own market access
C) To reduce foreign investment
D) To promote self-sufficiency
Answer: B) To increase their own market access
How does foreign trade lead to market integration?
A) By limiting product availability
B) By increasing tariffs
C) By allowing goods to flow freely across borders
D) By promoting local products only
Answer: C) By allowing goods to flow freely across borders
What is a potential future trend in globalisation?
A) Decreased interdependence
B) Increased protectionism
C) Greater technological integration
D) Isolation of economies
Answer: C) Greater technological integration
Which of the following statements is true regarding the impact of globalisation on employment?
A) It has uniformly created jobs for all
B) It has led to job losses in some sectors
C) It has eliminated all forms of labor exploitation
D) It has no impact on employment
Answer: B) It has led to job losses in some sectors
What is one of the demands developing countries might make in return for liberalising trade?
A) Increased tariffs on imports
B) Fair trade practices
C) Reduced foreign investment
D) Isolation from global markets
Answer: B) Fair trade practices
Which of the following is a characteristic of MNCs?
A) They operate only in their home country
B) They have a global presence
C) They focus solely on local markets
D) They do not invest in developing countries
Answer: B) They have a global presence
What has been a significant effect of technology on globalisation?
A) Slower communication
B) Increased barriers to trade
C) Enhanced connectivity and efficiency
D) Decreased access to information
Answer: C) Enhanced connectivity and efficiency
Which of the following is a reason for the uneven impact of globalisation?
A) Equal access to resources
B) Differences in economic development
C) Uniform government policies
D) Similar cultural backgrounds
Answer: B) Differences in economic development
What is one of the benefits of foreign investment in India?
A) Decreased competition
B) Technology transfer
C) Reduced consumer choice
D) Increased tariffs
Answer: B) Technology transfer
Which of the following best describes the term 'liberalisation'?
A) Increasing government control over the economy
B) Reducing restrictions on trade and investment
C) Promoting local products only
D) Isolating the economy from global markets
Answer: B) Reducing restrictions on trade and investment
What is a common concern regarding the impact of globalisation on culture?
A) Cultural exchange
B) Cultural homogenization
C) Preservation of local traditions
D) Increased cultural diversity
Answer: B) Cultural homogenization
Which of the following is a potential positive outcome of globalisation for developing countries?
A) Increased poverty
B) Access to new markets
C) Decreased foreign investment
D) Isolation from global trends
Answer: B) Access to new markets
What is a key factor that has driven the growth of globalisation in recent years?
A) Decreased communication technology
B) Increased trade barriers
C) Advances in transportation and communication
D) Isolationist policies
Answer: C) Advances in transportation and communication
CBSE CLASS 10 ECONOMICS IMPORTANT QUESTIONS (MCQS)
S.No
Chapter Name
MCQs
1
Development
Click here
2
Sectors of Indian economy
Click here
3
Money and credit
Click here
4
Globalisation and the Indian economy
Click here
5
Consumer rights
Click here
.png)
0 Comments