MCQs For NCERT Class 11 Economics Chapter 3 Liberalisation Privatisation and Globalisation: An Appraisal

Please refer to the following Liberalisation, Privatisation and Globalisation: An Appraisal Class 11 Economics MCQ Questions. These multiple choice questions have been prepared based on the latest examination pattern, NCERT book and syllabus issued by CBSE, NCERT and KVS. Students should go through all MCQ Questions for Class 11 Economics with answers as they will help them to prepare for the exams.

Liberalisation, Privatisation and Globalisation: An Appraisal Class 11 Economics MCQ Questions

Question. What is the investment limit in small scale industries?
a) 50 lakh
b) 1 crore
c) 25 lakh
d) 75 crore

Question. The Foreign Trade Policy has
a) identified certain thrust areas for growth
b) started “served from India brand”
c) started duty-free export credit
d) all of above

Question. “FDI” means:
a) Forex direct investment
b) Foreign deregulated investment
c) Foreign direct investment
d) Forex deregulated investment

Question. Where is the headquarters of WTO located?
a) Italy
b) Geneva
c) New York
d) Washington

Question. Outsourcing is goods for India because:
a) It provides employment to large number of unemployed
b) It provides excellence in a particular field
c) Both a) and B)
d) Neither a) nor b)

Question. At present the number of industries requiring company licensing is 
a) Eight
b) Six
c) Four
d) Five

Question. In which year did India adopt the economic reforms?
a) 1991
b) 1993
c) 1998
d) 2001

Question. How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?
a) $10 million
b) $10 billion
c) $7 billion
d) $20 billion

Question. _________refers to transfer of ownership, management and control of public sector enterprises to the entrepreneurs in the private sector.
a) Privatisation
b) Globalisation
c) Liberalisation
d) None of these

Question. When was VAT introduced in most of the States of India?
a) 1995
b) 2001
c) 2005
d) 2006

Question. The most urgent problem which prompted the introduction of New Economic Policy in 1991 was:
a) Bad performance of public sector units
b) Foreign exchange crises
c) High tax rates leading to tax evasion
d) All the above

Question. _________refers to disposal of equity of public sector units in the market.
a) Globalisation
b) Privatisation
c) Disinvestment
d) Liberalisation

Question. The main source of foreign capital In India is:
a) Loans from abroad
b) Foreign direct investment
c) Both a) and b)
d) Neither a) nor b)

Question. Which of the following is not a tax reform?
a) Reduction in taxes
b) Reforms in Indirect taxes
c) Removal of Export Duties
d) Devaluation of Rupee

Question. Which of the following are correct regarding growth during the reform period?
a) The growth of agriculture declined.
b) The service sector reported fluctuation.
c) The growth of industrial sectors has gone up.
d) The growth during this phase was mainly driven by the growth in the service sector.

Question. Who was the finance minister during the 1991 economic reforms?
a) PV Narasimha Rao
b) Manmohan Singh
c) R. K. Shanmukham Chetty
d) R. Venkataraman

Question. Demonetization had occurred in India in the years 1946 and 1978. On which date did the third demonetization occur?
a) 8th November 2016
b) 8th November 2015
c) 18th November 2016
d) 28th November 2015

Question. For how many industries, licensing is still necessary?
a) 7
b) 6
c) 9
d) 10

Question. All Indirect Taxes have been subsumed under:
a) Income Tax
b) Corporate Tax
c) Goods and Services Tax GST)
d) Value Added Tax VAT)

Question. __ was the predecessor organisation to World Trade Organisation.
a) International Bank for Reconstruction and Development
b) International Monetary Fund
c) Reserve Bank of India
d) General Agreement on Tariffs and Trade

Question. Why has the industrial sector growth slowed down in India?
a) Due to the obtainability of cheaper imports and lower investments
b) Due to the increase in public income
c) Due to the good response from exports
d) Due to the decreased manpower in industries

Question. What is the other name of the World Bank?
a) Federal Bank
b) ICICI
c) IBRD
d) Bank of America

Question. Which of the following replaced MRTP Act?
a) Competition Act
b) Foreign Exchange Management Act
c) New Companies Act
d) None of these