Class 10 Economics Solutions English Medium

NCERT Solutions Class 10 Economics English Medium

Chapter 4. Globalisation and the Indian Economy

Topic: Assignments - What Have You Learned?

Assignments for Preparation

Practice the following questions carefully to strengthen your understanding of the chapter and prepare effectively for the CBSE Board Examination.

Multiple Choice Questions (MCQs)

1. Globalisation refers to:

(a) Increase in population
(b) Integration of economies through trade and investment
(c) Growth of agriculture only
(d) Development of villages only

2. Foreign trade means:

(a) Trade within a state
(b) Trade between different countries
(c) Trade within a district
(d) Local market trade

3. Which of the following is an example of a Multinational Company (MNC)?

(a) Samsung
(b) Local Grocery Store
(c) Village Dairy
(d) Panchayat Office

4. MNC stands for:

(a) Multiple National Committee
(b) Multinational Corporation
(c) Modern National Company
(d) Market National Council

5. MNCs invest in other countries mainly to:

(a) Reduce production only
(b) Expand production and earn profits
(c) Stop international trade
(d) Increase taxes

6. Which of the following has accelerated globalisation?

(a) Improved Transport and Communication
(b) Decline in Technology
(c) Population Growth only
(d) Reduction in Trade

7. Foreign investment refers to:

(a) Investment within the same country
(b) Investment made by companies in another country
(c) Government tax collection
(d) Bank deposits only

8. Liberalisation in India began in:

(a) 1947
(b) 1969
(c) 1991
(d) 2001

9. Liberalisation means:

(a) Increasing trade restrictions
(b) Removing unnecessary restrictions on trade and investment
(c) Stopping imports
(d) Closing industries

10. Trade barriers include:

(a) Import Duties
(b) Roads
(c) Railways
(d) Factories

11. The World Trade Organization (WTO) was established in:

(a) 1947
(b) 1985
(c) 1995
(d) 2005

12. The WTO mainly promotes:

(a) Free and Fair International Trade
(b) Military Cooperation
(c) Agricultural Subsidies only
(d) Population Control

13. Which sector has benefited the most from globalisation?

(a) Information Technology (IT)
(b) Traditional Handloom only
(c) Cottage Industry only
(d) Subsistence Farming only

14. Consumers benefit from globalisation because:

(a) They get fewer products
(b) They get better quality and more choices
(c) Prices always increase
(d) Imports stop completely

15. Small producers often face:

(a) No competition
(b) Competition from MNCs and imported goods
(c) Unlimited profits
(d) Government monopoly

16. Outsourcing means:

(a) Producing everything in one country
(b) Giving work to another company or country to reduce cost
(c) Closing factories
(d) Importing only agricultural goods

17. Which organisation regulates international trade rules?

(a) RBI
(b) WTO
(c) IMF
(d) NABARD

18. One major advantage of globalisation is:

(a) Improved Technology Transfer
(b) Reduction in Communication
(c) Decrease in Consumer Choice
(d) End of Foreign Trade

19. Fair globalisation aims to:

(a) Benefit only large companies
(b) Benefit all sections of society
(c) Eliminate competition
(d) Stop international investment

20. The Government should ensure that globalisation:

(a) Benefits only MNCs
(b) Protects consumers, workers, and small producers
(c) Stops exports
(d) Reduces employment

Short Answer Questions (2–3 Marks)

1. What is globalisation?

2. Explain the importance of foreign trade.

3. What are Multinational Companies (MNCs)? Give two examples.

4. Why do MNCs invest in developing countries?

5. What is liberalisation? Why was it introduced in India?

6. What are trade barriers? Give one example.

7. State any three functions of the World Trade Organization (WTO).

8. Mention any three advantages of globalisation for consumers.

Long Answer Questions (5 Marks)

1. Explain the meaning of globalisation. Describe the major factors responsible for the rapid growth of globalisation.

2. Explain the role of Multinational Companies (MNCs) in the process of globalisation.

3. Describe the impact of globalisation on the Indian economy. Mention both its advantages and challenges.

4. Explain the policy of liberalisation. How did it influence India's economy after 1991?

5. Discuss the role of the World Trade Organization (WTO) in promoting international trade.

6. Explain the concept of fair globalisation. Why is it important for developing countries like India?

CBSE Competency-Based Questions

1. An Indian mobile phone company starts importing advanced electronic components from South Korea and exports finished smartphones to Europe. Explain how this example reflects globalisation.

2. A multinational company establishes a factory in India, creating employment and introducing advanced technology. Explain any two benefits of this investment for the Indian economy.

3. A small local toy manufacturer loses customers because cheaper imported toys are available in the market. Explain one advantage and one disadvantage of globalisation in this situation.

4. Why should the government support small producers while promoting globalisation? Give suitable reasons.

5. "Globalisation should ensure benefits for consumers, workers, farmers, and producers." Justify the statement with suitable examples.

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