Class 10 Social Science Chapter 4 Globalization and The Indian Economy MCQ Questions with Answer

Globalization and The Indian Economy Class 10 MCQ is one of the best strategies to prepare for the CBSE Class 10 Board exam. If you want to complete a grasp concept or work on one’s score, there is no method except constant practice. Students can improve their speed and accuracy by doing more Globalization and The Indian Economy class 10 MCQ which will help them all through their board test.

Globalization and The Indian Economy Class 10 MCQ Questions with Answer

Class 10 Social Science MCQ with answers are given here to Chapter 4 Globalization and The Indian Economy. These MCQs are based on the latest CBSE board syllabus and relate to the latest Class 10 Social Science syllabus. By Solving these Class 10 MCQs, you will be able to analyze all of the concepts quickly in the Chapter and get ready for the Class 10 Annual exam.

Learn Globalization and The Indian Economy Class 10 MCQ with answers pdf free download according to the latest CBSE and NCERT syllabus. Students should prepare for the examination by solving CBSE Class 10 Globalization and The Indian Economy MCQ with answers given below.

Question 1 : MNCs do not increase

a) Competition
b) Price war
c) Quality
d) None of the above

Question 2 :  This helps to create an opportunity for the producers to reach beyond the domestic market

a) Foreign trade
b) Domestic trade
c) Internal trade
d) Trade barrier

Question 3 : MNC stands for

a) Multinational Corporation
b) Multination Corporation
c) Multinational Cities
d) Multinational Council

Question 4 :  Investment made by MNCs is called

a) Investment
b) Foreign Trade
c) Foreign Investment
d) Disinvestment

Question 5 : Process of integration of different countries is called

a) Liberalisation
b) Privatisation
c) Globalisation
d) None of the above

Question 6 :  Production of services across countries has been facilitated by

a) Money
b) Machine
c) Labour
d) Information and communication technology

Question 7:  Tax on imports is an example of

a) Investment
b) Disinvestment
c) Trade barrier
d) Privatisation

Question 8 : Foreign Trade

a) Increases choice of goods
b) Decreases prices of goods
c) Increases competition in the market
d) Decreases earnings

Question 9 :  Globalisation was stimulated by

a) Money
b) Transportation
c) Population
d) Computers

Question 10 :  Which one is false?

a) MNCS offer subsidy to the small scale industries

b) MNCs acquire small companies to expand production

c) MNCs enter into joint venture to enter into foreign markets

d) MNCs set up own production center in foreign countries

Question 11 :  Liberalisation does not include

a) Removing trade barriers
b) Liberal policies
c) Introducing quota system
d) Disinvestment

Question 12:  Small Scale industries face competition from

a) Cheap imports

b) Rising prices

c) Exports

d) Subsidy

Question 13:  Globalization is not supported by

a) None of the options

b) Privatization

c) Liberalization

d) Information and communication technology

Question 14 : Which one of the following is not an MNC?
a) Reebok Shoes
b) Tata Motors
c) SAIL
d) Infosys

Question 15 : The most common route for investments by MNCs in countries around the world is to
a) set up new factories.
b) buy existing local companies.
c) form partnerships with local companies.

Question 16 :  SEZ stands for

a) Special Economic Zone

b) Special Economic Package

c) Special Ecology Zone

d) None of the options

Question 17 : The most important factor that has stimulated globalisation is ……… .
a) population explosion
b) spread of education
c) urbanisation
d) rapid improvement in technology

Question 18 : It creates an opportunity for the producers to reach beyond the domestic markets. What does it refer to?
a) Technology
b) Investments
c) Trade barriers
d) Globalisation

Question 19 : Identify which one of the following organisations lays stress on liberalisation of foreign trade and foreign investment?
(a) International Monetary Fund
(b) International Labour Organisation
(c) World Health Organisation
(d) World Trade Organisation

Question 20: The investment made by MNCs is called ______.
(a) foreign investment
(b) foreign trade
(c) foreign demand
(d) foreign supply

Question 21 :  WTO stands for

a) World Trade Organization

b) World Tennis Organization

c) World Trade Office

d) World Trade center

Question 22 : Which of the following industries has a large number of well-off buyers in urban areas?
(a) Electronics
(b) Fast food
(c) Automobiles
(d) All of these

Question 23 : Removing barriers or restrictions set by the government is called:
(a) investment
(b) liberalisation
(c) favourable trade
(d) free trade

Question 24 : Which Indian company has been bought by Cargill Foods, an MNC?
(a) Amul
(b) Parakh foods
(c) Britannia
(d) Dabur

Question 25 : Name the Indian manufacturer with which Ford Motors entered the Indian automobile business.
(a) Mahindra and Mahindra
(b) Suzuki
(c) Maruti
(d) Hindustan Motors

Question 26 : Identify why do MNCs set up offices and factories in more than one nation?
(a) Because the cost of production is high and the MNCs can earn profit.
(b) Because the cost of production is low and the MNCs undergoes a loss.
(c) Because the cost of production is low and the MNCs can earn greater profit.
(d) Because the MNCs want to make their presence felt globally.

Question 27 : Globalisation, by connecting countries, leads to:
(a) no competition between producers.
(b) lesser competition between producers.
(c) greater competition between producers.
(d) none of the above

Question 28 : Which of the following is a benefit of globalization?
(a) Consumers pay higher amount for goods and services, so producers are better off.
(b) Asymmetric information cannot exist in a globalized market.
(c) Consumers get a wide variety of goods to choose from.
(d) Homogeneous goods are sold in a globalized market.

Question 29 : Globalisation so far has been more in favour of _________.
(a) developed countries
(b) developing countries
(c) poor countries
(d) none of the above

Question 30 : Which of the following is an example of globalization?
(a) Indians consuming goods produced abroad.
(b) Indians becoming self-sufficient in terms of production of goods and services.
(c) Indians moving across different states in domestic territory.
(d) Indians producing huge amount of agricultural produce.

Question 31 : The aim of Special Economic Zones (SEZ) developed by the Government of India is _____.
(a) to attract foreign companies to invest in India.
(b) to encourage small investors.
(c) to encourage regional development.
(d) none of the above.

Question 32 : The main aim of World Trade Organisation is _____________.
(a) to liberalise domestic trade.
(b) to liberalise international trade.
(c) to restrict trade from foreign countries.
(d) none of the above

Question 33 : Identify which one of the following Indian industries has been hit hard by globalisation?
(a) Information Technology (IT)
(b) Toy making
(c) Jute
(d) Cement

Question 34 : Identify in which year did the government decide to remove barriers on foreign trade and investment in India?
(a) 1993
(b) 1992
(c) 1991
(d) 1990

Question 35 : ‘Increased job opportunities’ in countries is an impact of _____________ .
(a) privatisation
(b) liberalisation
(c) globalisation
(d) none of these

Question 36 : Which of the following is an advantage of globalization to multinational companies?
(a) Multinational companies do not have to procure raw materials from other countries as globalization leads to self-sufficiency of companies.
(b) Spreading out production across international borders can help in lowering the cost of production.
(c) When multinational companies expand production across the world, they do not have to pay taxes as they help in generating employment.
(d) Multinational companies can easily put the burden of increased cost of production on global consumers and continue to earn high profits.

Question 37 : Match the following Questions:

Options:
(a) A-i, B-ii, C-iii
(b) A-ii, B-iii, C-i
(c) A-iii, B-i, C-ii
(d) A-iii, B-ii, C-i

Question 38 : A___________is a company that owns or controls production in more than one nation/country.
(a) Domestic company
(b) Multinational corporation
(c) International corporation
(d) None of the above

Question 39 : Which of the following can be a benefit to local businesses if they conduct business with MNCs?
(a) Local businesses do not have to invest in the business as MNCs do all the investment.
(b) MNCs provide cheap labour to local businesses.
(c) MNCs can bring advanced techniques of production.
(d) Local businesses earn higher profits as their cost of production becomes nil.

Question 40 : Study the picture and answer the question that follows:

Which of the following aspects best signifies above image?
(a) Liberalisation
(b) Trade
(c) WTO
(d) Internet

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Question 41 : Identify the incorrect feature of a Multi-National Company.
(a) It owns/controls production in more than one nation.
(b) It sets up factories where it is close to the markets.
(c) It organises production in complex ways.
(d) It employs labour only from its own country.

Question 42 : Identify the correct statement: Globalisation has led to improvement in living conditions:
(a) of all the people.
(b) of people in the developed countries.
(c) of workers in the developing countries.
(d) none of the above.

Question 43 : Identify the one which is a ‘barrier’ in foreign trade:
(a) Tax on import
(b) Quality control
(c) Sales tax
(d) Tax on local trade

Question 44 : Study the picture and answer the question that follows:

Which of the following aspects best signifies above image?
(a) Liberalisation
(b) Trade
(c) WTO
(d) Internet

Question 45 : Identify which one of the following is a major benefit of joint production between a local company and a Multi- National Company?
(a) MNCs can bring latest technology in the production.
(b) MNCs can control the increase in the price.
(c) MNCs can buy the local company.
(d) MNCs can sell the products under their brand name.

Question 46 : What was the far reaching change in the policy made in India in 1991?
(a) Instil trade barriers
(b) Removal of trade barriers
(c) Remove taxation
(d) None of the above

Question 47 :  Liberalization does not include

a) Introducing quota system

b) Removing trade barriers

c) Disinvestment

d) Liberal policies

Question 48 : Identify the correct option which contributes to globalisation:
(a) internal trade
(b) external trade
(c) large scale trade
(d) small scale trade

Question 49 : Trade between countries:
(a) decreases competition between countries.
(b) determines prices of products in different countries.
(c) makes a country dependent on the other.
(d) none of the above

Question 50 : WTO is dominated by countries like ……… .
a) U.S. and U.K.
b) China and France
c) India and Japan
d) Ireland and Germany

Question 51 : A company that owns or controls production in more than one nation is called ……… .
a) Foreign company
b) Multi National Company
c) International company
d) Local company

Question 52 : What was the idea behind developing Special Economic Zones (SEZs) in India?
a) To attract foreign companies to invest in India
b) To earn foreign exchange
c) To make India financially stable
d) To make India a developed country

Question 53 :  Tax on imports is an example of

a) Trade barrier

b) Investment

c) Disinvestment

d) Privatization

Question 54 : How many countries are currently the members of the World Trade Organisations?
a) 140 countries
b) 145 countries
c) 159 countries
d) 149 countries

Question 55 :  Foreign Trade

a) Decreases earnings

b) Increases choice of goods

c) Decreases prices of goods

d) Increases competition in the market

Question 56 : Globalisation has led to improvement in living conditions
a) of all the people
b) of people in the developed countries
c) of workers in the developing countries
d) None of the above

Question 57 : What is the full form of WTO?
a) World Transactions Organisation
b) Wealth Trade Organisation
c) World Trade Organisation
d) None of the above

Question 58 :  Production of services across countries has been facilitated by

a) Information and communication technology

b) Money

c) Machine

d) Labor

Question 59 :  Globalization was stimulated by

a) Transportation

b) Money

c) Population

d) Computers

Question 60 :  This helps to create an opportunity for the producers to reach beyond the domestic market

a) Foreign trade

b) Domestic trade

c) Internal trade

d) Trade barrier

Question 61 :  MNCs do not increase

a) None of the options

b) Competition

c) Price war

d) Quality

Question 62 : What are the investments made by MNCs called?
a) Foreign investments
b) International investments
c) Multi National investments
d) None of these

Question 63 : The past two decades of globalisation has seen rapid movements in
a) goods, services and people between countries.
b) goods, services and investments between countries.
c) goods, investments and people between countries.

Question 64 : The international organisation formed for the liberalisation of trade is ……… .
a) World Trade Organisation
b) United Nations Organisation
c) World Trade Centre
d) Multi-national Corporation

Question 65 : What is the term ‘investment’ mean?
a) Money spent on buying clothes
b) Money spent on buying land, building, machines, etc.
c) Money spent on buying a car
d) Money spent on buying furniture

Question 66 : Why did the government decide to remove barriers on foreign trade and foreign competitors?
a) Because the government wanted to earn the foreign exchange.
b) Because the government felt that the time had come for Indian producers to compete with producers in the world market.
c) Because the government wanted to maintain good relations with other countries.
d) All of the above.

Question 67 :  Investment made by MNCs is called

a) Foreign Investment

b) Investment

c) Foreign Trade

d) Disinvestment

Question 68 :  Process of integration of different countries is called

a) Globalization

b) Liberalization

c) Privatization

d) None of the options

Question 69 : Ranbaxy is a multinational company which is associated with ……… .
a) automobiles
b) nuts and bolts
c) medicines
d) information technology

Question 70: WTO was the initiative of

a) less developed countries. 

b) developing countries.

c) developed countries. 

d) poor countries.

Question 71: According to 2006 data, member countries of WTO are

a) 130. 

b) 149.

c) 150 

d) 206

Question 72 :  MNC stands for

a) Multinational Corporation

b) Multination Corporation

c) Multinational Cities

d) Multinational Council

Question 73 : To liberalize international trade was the aim of

a) World Trade Organisation. 

b) Reserve Bank of India.

c) independent India. 

d) multinational corporations.

Question 74 : The most affected people by WTO rules are

a) Indian farmers. 

b) farmers of USA.

c) industrialist in India 

d) industrialist in China.

Question 75 : Integration of markets means

a) operating beyond the domestic markets 

b) wider choice of goods

c) competitive price 

d) All of the above

Question 76 : One special step taken by the central and state government to attract foreign companies in India is

a) Special Economic Zones. 

b) Special easy Zones.

c) Small Economic Zones. 

d) Smart Economic Zones.

Question 77 : Companies setting up production units in SEZ’s have to pay taxes after

a) 2 years. 

b) 3 years.

c) 4 years. 

d) 5 years.

Question 78 : The basic function of foreign trade is to

a) connect markets of two countries only. 

b) create an opportunity for buyers for foreign goods.

c) connect markets of different countries. 

d) connect developed countries only.

Question 79 : Name of the MNC dealing in medicines is

a) Ranbaxy. 

b) Asian Paints.

c) Tata Motors. 

d) Infosys.

Question 80 : The money that is spent to buy an asset is called

a) transaction. 

b) withdrawls.

c) deposits. 

d) investment.

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