Tag: globalization and trade

Questions Related to globalization and trade

In India, Overall Economic Planning in the form of targets is laid down by the _____________.

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. government of india

  2. planning authority of India

  3. planning commission

  4. state governments.

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Correct Option: C

When a country enters into international trade, what record is maintained on the basis of double entry book-keeping?

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. Balance of Payment

  2. Balance Sheet

  3. International Trade

  4. Profit and Loss Account

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Correct Option: A

Choose the correct statement about factors regarding globalization in India :
I. Improvement in transportation technology.
II. Liberalization of foreign trade and foreign investment.
III. Favourable rules of WTO towards India in comparison to developed countries.
Choose the correct options from the codes given below:

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. Only I and II

  2. Only I and III

  3. Only II and III

  4. Only III

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Correct Option: A
Explanation:

Option II and III are correct; option C is the correct answer.

Reason:- Improvement in the transport sector facilitates globalization, it is not an outcome of globalization. 

Whereas Liberalization of foreign trade and Favorable rules under the developing countries category helped India to improve trade in the world. 

Globalisation means -

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. Integrating the domestic economy with the world economy

  2. A process which draws countries out of their isolation and makes them join rest of the world in its march towards a new world economic order

  3. Integrating the world into one global village

  4. All of the above

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Correct Option: D

Globalization has mostly affected ________.

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. Developed countries

  2. MNC's

  3. Large producers

  4. Small producers

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Correct Option: D
Explanation:

For a large number of small producers and workers globalisation has posed major challenges. MNC's sell their products at cheaper prices in other countries which affects Indian producers because people would prefer buying the same thing at a cheaper price which is sold by MNC's.

Ford motors came to India in the year  _____.

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. 1994

  2. 1995

  3. 1996

  4. 1997

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Correct Option: B
Explanation:

 Ford Motors came to India in 1995 and spent Rs. 1700 crore to set up a large plant near Chennai. 

In the last decade, which one among the following sectors has attracted highest foreign direct investment inflows into India?

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. Chemicals (excluding fertilizers)

  2. Services

  3. Food processing

  4. Telecommunication

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Correct Option: D
Explanation:

India is currently the world’s second-largest telecommunications market and has registered strong growth in the past decade and half. The Indian mobile economy is growing rapidly and is expected to contribute substantially to India’s Gross Domestic Product (GDP).

Looking at the past, we find that MNCs have been a major force in the process of Globalization since last ____________.

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. forty years

  2. thirty years

  3. fifty years

  4. sixty years

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Correct Option: B
Explanation:

If we look at the past thirty years or so, we find that MNC's have been a major force in the globalisation process connecting distant regions of the world.

Globalisation of the Indian economy has not adversely impacted ____ .

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. workers in the unorganised sector

  2. workers in call centres

  3. workers in small scale manufacturing units

  4. small traders

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Correct Option: B
Explanation:

Due to new communication technologies, one of the biggest trends is to move call centres offshore to the global south to countries such as India where labour is cheap and the employees speak English. 80% of call centres in India cater to the international market. This industry in India is the result of globalisation since there were no domestic call centres in India prior to the international call centres. It is estimated that the Indian call centre industry now employs 1.2 million people for both inbound and outbound customer service.

Agriculture accounts for about _____of the total value of the country's exports.

geography globalization and trade mncs and impact of globalization effects of globalisation in india globalisation and the indian economy

  1. 10%

  2. 20%

  3. 15%

  4. 25%

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Correct Option: A
Explanation:

Agriculture is the bedrock of Indian economy where farm rather than factories have been the mainstay of masses. In addition, it accounts for 10 per cent of the country’s exports lending a helping hand in earning valuable foreign exchange. The impressive achievements of this sector have been the joint efforts of the farming community and agricultural scientists, marketing professionals and the public and cooperative sectors.