Tag: history

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Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Liberalization means ______.

  1. removal of trade barriers

  2. opening border with neighbouring countries

  3. relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry.

  4. abolition of various business laws and acts
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Liberalization refers to the relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry. It is one of the policies under new economic policy which was adopted by Indian economy in 1991. It promoted free and fair trade.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

India started liberalization with effect from ______.

  1. 1956

  2. 1991

  3. 2001

  4. 1998
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Liberalization refers to the relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry. It is one of the policies under new economic policy which was adopted by Indian economy in 1991. It promoted free and fair trade.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Privatization means ________.

  1. transfer of assets or services from public ownership to private ownership in part or full.

  2. sale of all government assets and properties to public.

  3. sale of profit making companies to multi-national companies.

  4. sale of loss making PSUs to foreign countries.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Privatization includes ownership, organizational and operational measures. It refers to the process of transferring or sale of the public ownership to private ownership in part or full. It is a process of reducing government's role in the economy.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

 _______ is/are the ways towards liberalization.

  1. Privatisation

  2. Liberalize economic policies.

  3. Financial sector reforms.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Ways towards liberalization are:
1) Privatization: It refers to the sale or transfer of public assets to the private ownership.
2) Liberalize economic policies: Restriction from economic policies were abolished and liberalized in the global arena with the global market orientation.
3) Financial sector reforms: Financial sector was reformed in favor of liberalization.
Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

As per Patents Amendment Act, 2002, term of a patent right is limited to ______.

  1. 20 years from the date of filing

  2. 16 years from the date of filing

  3. 10 years from the date of filing

  4. 5 years from the date of filing
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

As per Patents Amendment Act, 2002, term of a patent right is limited to 20 years from the date of filing. Patent is also known as copyright or license. The Patent Amendment Act provided for filing applications for product patent.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

IMF has a ______ membership of countries.

  1. 199

  2. 189

  3. 220

  4. 76
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

IMF stands for International Monetary Fund. It was established in 1945. Headquarter of IMF  is in Washington DC. It has 189 countries as members as of 2018. It is established to promote financial stability of the member countries.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

IBRD stands for ________.

  1. International Bank for Reconstruction and Development

  2. Industrial Bank for Revival and Development

  3. Investment Bank for Reconstruction and Development

  4. Indian Bank for Reconstruction and Development
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

IBRD stands for International Bank For Reconstruction and Development. It is set up in 1944. It is one of the members of the World Bank Group and is headquartered in Washington DC. It  offers loans to middle-income developing countries.

Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

IBRD was set up in ______.

  1. 1965

  2. 1949

  3. 1944

  4. 1990
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

IBRD stands for International Bank For Reconstruction and Development. It is set up in

  1. It is one of the members of the World Bank Group and is headquartered in Washington DC. It  offers loans to middle-income developing countries.