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12th Commerce Weekly Test - 3 ( Liberalisation Privatisation & Globalisation )

St. Britto Hr. Sec. School - Madurai

12th Commerce Weekly Test - 3 ( Liberalisation Privatisation & Globalisation )-Aug 2020

Time : 1.00 Hours

Part - A

Multiple Choice Question - Answer All Question

By which act government checks restrictive trade?

Industrial Policy Act 1991
MRTP Act
FEMA Act
None of these

Investment limit of the small scale industries have been raised to

₹50 lakhs
₹25 lakhs
₹1 cr
₹5 cr

________ is the result of New Industrial Policy which abolished the 'License System'.

Globalisation
Privatisation
Liberalisation
None of these

A number of multinational companies started operating world wide mduding

India
China
America
London

___________ industry has been liberalised.

Drugs and pharmaceuticals
Hazardous chemicals
Tobacco products
Defence equipment

Which of the following is not derived from globlisation?

The fragmentation of consumer taste between countries
The competitive process
The need to gain economies of scale
none of these

_______ results from the removal of barriers between national economies to encourage the flow of goods, services, capital and labour.

Privatisation
Liberalisation
Globalisation
Foreign Trade

______________ means, to send or bring money back to one's .own country.

Trade policy
Promotion
Tariffs
Repatriate

New Economic Policy was introduced in the year___________.

1980
1991
2013
2015

The trade liberalisation often benefits developed countries rather than developing

nations
sector
economies
none of these

_________ ownership makes bold management decisions due to their strong foundation in the international level.

Private
Public
Corporate
MNC's

___________ often leads to a shift in the balance of an economy.

Trade liberalization
Trade privatization
Trade globalisation
None of these

____________ ownership makes bold management decisions due to their strong foundation at international level.

Private
Public
Both
None

_______________ brings an end to the difference between domestic and international markets.

Liberalization
Globalization
Privatization
None of these

The removal of tariff barriers can lead to lower prices for

suppliers
consumers
competitors
none of these

India is one among such nations to commit itself to the New Economic Policy in

1991
1995
1990
1986

Globalisation widens the gap between and

employers,employees
employment, unemployment
rich, poor
Capitalism, socialism

If a country liberalises its trade, it will make the country more attractive for

inward investment
exchange reserve
consumption
price

Globalisation has created new opportunities of

employment
emerging multinational
providing services
all of the above

___________ advancement paves way for a company to enter foreign market.

Technological
Foreign exchange
Brain drain
Foreign institutions

Globalization can create problems for business because

it can result in more competition
it increases vulnerability to the political risk and uncertainty when operating abroad
it means that they can increase price
none of the above

_________ means firms will face greater competition from abroad.

Impact liberalization
Trade liberalization
Globalization
Privatization

Memorandum of understanding system was introduced in

1990
1991
1992
1994

___________ means permitting the private sector to set up industries which were previously reserved for the Public Sector.

Liberalization
Privatization
Globalisation
None of these

_____________ started selling shares of PSUs to Public and Financial institution.

Indian Government
State Government
Central Government
None of these

________ means permitting the private sector to setup industries which were previously reserved for public sector.

Liberalisation
Privatisation
Globalisation
Public Enterprise

Currently, only ____________ industries are under compulsory licensing.

two
three
four
five

Which of the following reduces the dependence on external commercial borrowings by attracting more foreign investments.

Privatization
Liberalization
Globalization
None of the above

One major factors that has stimulated the globlisation process is

effective utilisation of resources
increase in income and wealth
Willingness to cooperate
rapid improvement in technology

Liberalisation, privatisation and globlisation are the aims of

Economic planning
Socialistic pattern of society
Land reforms
Economic reforms

_______________ refers to laws or rules being liberalized or relaxed by a government

Liberalization
Privatization
Globalization
All of these

_____________ stands for the consolidation of the various economies of the world.

Privatisation
Liberalisation
Globalisation
All ofthese

Removing barriers or restrictions set by the government is called

liberalisation
privatisation
disinvestment
globalisation

One major factors that has stimulated the globlisation process is

effective utilisation of resources
increase in income and wealth
Willingness to cooperate
rapid improvement in technology

____________ is the latest outcome of liberalization.

Exchange
Increase in employment
Foreign collaboration
None of these

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