Multiple Choice Questions Chapter 8–How the Land Becomes Sacred Class 7 Subject Social Science **************************** 35 MCQs (Multiple Choice Questions) Which of the following religions did not originate in India? a) Buddhism b) Sikhism c) Islam ✔️ d) Jainism The Mahabodhi Stupa is located in: a) Sanchi b) Bodh Gaya ✔️ c) Varanasi d) Mathura A tīrtha symbolically represents: a) A trade route b) A border c) A spiritual crossing ✔️ d) A temple structure In Sikhism, the Akal Takht is located at: a) Patna b) Delhi c) Amritsar ✔️ d) Anandpur The shrine of Sabarimala is in: a) Tamil Nadu b) Karnataka c) Kerala ✔️ d) Andhra Pradesh Pandharpur Wari is a pilgrimage held in: a) Gujarat b) Maharashtra ✔️ c) Odisha d) Punjab BhÅ«devÄ« is regarded as: a) A river goddess b) Goddess of wisdom c) Mother Earth ✔️ d) A star deity The Dongria Khond tribe worships which hill? a) Nanda Devi b) Girnar c) Niyam Dongar ✔️ d) Shatru...
Globalization and the Indian Economy
Class-X( Economics)
Subject-SST
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Q1. What is the meaning of market?
Ans.
Ans.
The market is the place where there is a regular gathering of people for the purchase and sale of goods and services.
Q2. How have Indian markets been transferred in recent years? explain with examples.
Ans.
Ans.
After the advent of globalization many changes have occurred in the Indian market. The various transformations in the Indian market in recent years are:-
1. There is availability of a wide range of choice of goods and services.
2. Products are of better quality.
3. Good quality product available at low cost.
4. We can easily avail the latest product with advanced technology.
5. Every season, new models of automobiles can be seen on the Indian roads.
1. There is availability of a wide range of choice of goods and services.
2. Products are of better quality.
3. Good quality product available at low cost.
4. We can easily avail the latest product with advanced technology.
5. Every season, new models of automobiles can be seen on the Indian roads.
Q3. Features of multinational companies.
Ans.
Ans.
1. MNC is a company that owns or controls production in more than 1 country .
2. A MNC sells his finished products globally.
2. A MNC sells his finished products globally.
Q4. Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources?
Ans.
Ans.
1. Low cost of production.
2. They can earn greater profit.
2. They can earn greater profit.
Q5. How do MNCs manage to keep the cost of production of their goods low? explain with examples.
Ans.
Ans.
1. MNCs set up their offices and factories in regions where cost of skilled and Semi skilled labour and other resources are low.
2. Besides, to keep the cost of production of their goods low, they are also setting up their production centers near markets.
3. MNCs set up their factories in developing countries like India and Vietnam.
4. Similarly, the sites of assembly are located in Mexico, East Europe due to their proximity to the market of the USA and western Europe respectively.
2. Besides, to keep the cost of production of their goods low, they are also setting up their production centers near markets.
3. MNCs set up their factories in developing countries like India and Vietnam.
4. Similarly, the sites of assembly are located in Mexico, East Europe due to their proximity to the market of the USA and western Europe respectively.
Q6. Explain the ways in which MNCs control production in other countries.
Ans.
Ans.
The various ways in which MNCs set up for control production in other countries are:-
1. By setting a partnership with local companies:-
MNC set up production jointly with some of the local companies. The benefit to the local companies of such joint production is two fold:
(A) first MNCs can provide money for additional investment.
(B) Second , MNCs might bring with them the latest technology for production.
2. By using local companies for supplies:- Large MNCs in developed countries place orders for production with small producers. Garments, footwear, Sports items are examples of industries where production is carried out by a large number of small producers Around The World.
3. By buying local companies:- The most common route for MNCs investment is to buy up local companies and then to expand production. MNCs with huge wealth can quite easily do so.
1. By setting a partnership with local companies:-
MNC set up production jointly with some of the local companies. The benefit to the local companies of such joint production is two fold:
(A) first MNCs can provide money for additional investment.
(B) Second , MNCs might bring with them the latest technology for production.
2. By using local companies for supplies:- Large MNCs in developed countries place orders for production with small producers. Garments, footwear, Sports items are examples of industries where production is carried out by a large number of small producers Around The World.
3. By buying local companies:- The most common route for MNCs investment is to buy up local companies and then to expand production. MNCs with huge wealth can quite easily do so.
Q7. Difference between foreign trade and foreign investment.
Ans.
Ans.
Foreign trade:- The process of buying and selling goods and services between two or more than 2 countries is known as foreign trade.
Foreign investment:- the investment made by the MNCs in foreign countries with the hope that these investments will earn them profits is called for foreign investment.
Foreign investment:- the investment made by the MNCs in foreign countries with the hope that these investments will earn them profits is called for foreign investment.
Q8. Mention any five features of foreign trade.
Or
How does foreign trade lead to integration of markets across countries? explain with examples.
Ans.
Or
How does foreign trade lead to integration of markets across countries? explain with examples.
Ans.
1. Foreign trade provides opportunity for both Producers and buyers to reach beyond markets of their own country.
2. There is flow of goods, service and Finance across different countries.
3. With the opening of foreign trade, goods travel from one market to another.
4. Choice of goods in the market Rises.
5. Due to foreign trade the prices of similar goods in the market tend to become equal.
2. There is flow of goods, service and Finance across different countries.
3. With the opening of foreign trade, goods travel from one market to another.
4. Choice of goods in the market Rises.
5. Due to foreign trade the prices of similar goods in the market tend to become equal.
Q9. What is globalization?
Ans.
Ans.
Globalization means integration of one country's economy with the world economy. It is a process of interaction and integration among the people, companies and governments of different nations.
Important features are:-
1. Free flow of goods from one country to another.
2. Free flow of capital and Technology among different countries.
3. Free flow of labour and professionals among different countries.
Important features are:-
1. Free flow of goods from one country to another.
2. Free flow of capital and Technology among different countries.
3. Free flow of labour and professionals among different countries.
Q10. Explain the factors that have enabled globalization possible.
Ans. 1. Technology development:- Rapid improvement in technology has been one major factor that has stimulated the globalization process. In recent times, technology in the areas of telecommunications, computers, and the internet has been changing rapidly.
2. Liberalization of foreign trade:- Nations have removed many of the barriers to foreign trade and foreign investment and thus promoted and facilitated globalization.
3. Foreign investment policy:- MNCs have increased foreign investment and foreign trade which led to Greater integration of production and market across countries. Globalisation is the process of Rapid integration and interconnection between countries.
Ans. 1. Technology development:- Rapid improvement in technology has been one major factor that has stimulated the globalization process. In recent times, technology in the areas of telecommunications, computers, and the internet has been changing rapidly.
2. Liberalization of foreign trade:- Nations have removed many of the barriers to foreign trade and foreign investment and thus promoted and facilitated globalization.
3. Foreign investment policy:- MNCs have increased foreign investment and foreign trade which led to Greater integration of production and market across countries. Globalisation is the process of Rapid integration and interconnection between countries.
Q11. What are the trade barriers? Why were trade barriers imposed by the Indian government?
or
What was the reason for putting to foreign trade and foreign investment by the Indian government?
Ans. Trade barriers:- Trade barriers are the restrictions on import and export imposed by the government to protect the interest of the producers within the country. Tax on imports is an example of trade barriers.
Reasons for trade barriers:-
1. Because this was considered necessary to protect the producers within the country from foreign competition.
2. To make Indian companies competitive and more efficient.
3. The competition from well established for and competitors would destroy the new-born industries in India.
4. But now after the period of 70 years the scene has changed, Indian industry has developed. it can face competition from developed Nations industry, so barriers are removed.
or
What was the reason for putting to foreign trade and foreign investment by the Indian government?
Ans. Trade barriers:- Trade barriers are the restrictions on import and export imposed by the government to protect the interest of the producers within the country. Tax on imports is an example of trade barriers.
Reasons for trade barriers:-
1. Because this was considered necessary to protect the producers within the country from foreign competition.
2. To make Indian companies competitive and more efficient.
3. The competition from well established for and competitors would destroy the new-born industries in India.
4. But now after the period of 70 years the scene has changed, Indian industry has developed. it can face competition from developed Nations industry, so barriers are removed.
Q12. How would flexibility in labour laws help companies?
Ans.
Ans.
1. Government of India has formed certain rules and regulations for the protection of the workers like they have job Security, Limited working hours, provident fund, paid holidays etc.
2. However, such conditions relaxed for MNCs.
3. Due to flexibility of labour laws they are allowed to hire workers on the temporary basis or on contract.
4. It helps in the reduction of cost of production of goods produced by the MNCs as well as raises their profitability.
2. However, such conditions relaxed for MNCs.
3. Due to flexibility of labour laws they are allowed to hire workers on the temporary basis or on contract.
4. It helps in the reduction of cost of production of goods produced by the MNCs as well as raises their profitability.
Q13. How can the government ensure fair globalization to its citizens? Explain.
Ans.
Ans.
1. Ensure labour laws are properly implemented.
2. To support small producers.
3. It can negotiate at the WTO for fairer rules.
4. If necessary, the government can use trade and investment barriers.
5. Must protect the interests of not only rich people but all the common people.
2. To support small producers.
3. It can negotiate at the WTO for fairer rules.
4. If necessary, the government can use trade and investment barriers.
5. Must protect the interests of not only rich people but all the common people.
Q14. Name the organization which Lays emphasis on liberalization of foreign trade and foreign investment in India.
Ans. WTO ( World Trade Organisation).
Ans. WTO ( World Trade Organisation).
Q15. Where is the main head office of WTO?
Ans. Geneva - Switzerland
Ans. Geneva - Switzerland
Q16. How many countries are currently members of the WTO.
Ans. It has 165 member countries as on 29 July 2016.
Ans. It has 165 member countries as on 29 July 2016.
Q17. What are the main functions of WTO?
or
The WTO has tried to integrate the world economy. comment.
Ans.
or
The WTO has tried to integrate the world economy. comment.
Ans.
1. WTO promotes free trade among the different countries of the world.
2. it establishes rules regarding international trade and ensures that these rules are obeyed.
3. It provides a forum to settle disputes among trading countries.
4. Its main aim is to liberalize international trade.
5. WTO provides a platform to member countries to decide future strategies related to trade and tariff.
2. it establishes rules regarding international trade and ensures that these rules are obeyed.
3. It provides a forum to settle disputes among trading countries.
4. Its main aim is to liberalize international trade.
5. WTO provides a platform to member countries to decide future strategies related to trade and tariff.
Q18. What are the Special Economic Zones? Why have they been set up?
Ans.
Ans.
1. SEZs are Special Economic Zones where world-class facilities like water, electricity, roads and transport, recreation, education are available.
2. A) They have been set up to promote foreign companies to invest in India.
B) Companies with production units in the SEZs do not have to pay taxes for the initial period of 5 years.
C) Government has allowed flexibility in labour laws to attract foreign investment.
2. A) They have been set up to promote foreign companies to invest in India.
B) Companies with production units in the SEZs do not have to pay taxes for the initial period of 5 years.
C) Government has allowed flexibility in labour laws to attract foreign investment.
Q19. Describe the ways in which countries can be linked through globalization.
Ans.
Ans.
1. By movement of goods.
2. By movement of services.
3. By moment of investment.
4. By the movement of people between countries.
2. By movement of services.
3. By moment of investment.
4. By the movement of people between countries.
Q20. Describe the impact of globalization on the Indian economy.
Ans. Positive impact of globalization:-
1. MNCs have increased their investment in India.
2. There is a greater choice for the consumers.
3. MNCs have increased their investment in India leading to more job opportunities.
4. Globalization has also enabled some large Indian companies to emerge as MNCs themselves like Tata Motors, Infosys and Asian Paints etc.
5. Globalization has also created new jobs in the IT sector like Call Centre jobs, data entry etc.
6. Globalization has increased in GDP, employment, family income and standard of living.
Negative impact of globalization
1. Globalization has benefited developed Nations and has a harmful impact upon developing countries.
2. Developed countries purchase cheap raw material from underdeveloped countries and export costlier finished goods to underemployed countries.
3. Globalization has led to widening income inequalities among various countries.
4. Worker's jobs are no longer secure.
5. There are a number of industries such as toy, battery plastic and vegetable oil etc. where the small manufacturers have been hard hit due to foreign investment.
6. Thousands of educated and unskilled laborers have become jobless due to closure of various units.
Ans. Positive impact of globalization:-
1. MNCs have increased their investment in India.
2. There is a greater choice for the consumers.
3. MNCs have increased their investment in India leading to more job opportunities.
4. Globalization has also enabled some large Indian companies to emerge as MNCs themselves like Tata Motors, Infosys and Asian Paints etc.
5. Globalization has also created new jobs in the IT sector like Call Centre jobs, data entry etc.
6. Globalization has increased in GDP, employment, family income and standard of living.
Negative impact of globalization
1. Globalization has benefited developed Nations and has a harmful impact upon developing countries.
2. Developed countries purchase cheap raw material from underdeveloped countries and export costlier finished goods to underemployed countries.
3. Globalization has led to widening income inequalities among various countries.
4. Worker's jobs are no longer secure.
5. There are a number of industries such as toy, battery plastic and vegetable oil etc. where the small manufacturers have been hard hit due to foreign investment.
6. Thousands of educated and unskilled laborers have become jobless due to closure of various units.
Q21. What steps should be taken to make trade fairer between the countries?
Or
"Only fair globalization can give new shape to the world economy." Explain.
Ans. The following steps should be taken:-
1. Before imposing trade barriers, the interest of the developing countries should be taken care of.
2. Rules and regulations should be uniform.
3. Ensures that the developed countries do not retain trade barriers unfairly.
4. Labour laws should be implemented properly and workers get their rights.
5. Small producers should be supported to improve their performance till they become strong enough to compete.
Or
"Only fair globalization can give new shape to the world economy." Explain.
Ans. The following steps should be taken:-
1. Before imposing trade barriers, the interest of the developing countries should be taken care of.
2. Rules and regulations should be uniform.
3. Ensures that the developed countries do not retain trade barriers unfairly.
4. Labour laws should be implemented properly and workers get their rights.
5. Small producers should be supported to improve their performance till they become strong enough to compete.
Q22.Globalisation has been advantageous to consumers as well as to the producers. Support the statement with suitable examples.
Ans.
Advantages to consumers:-
1. Globalization has led to Employment generation, as a result, beneficial to the consumers.
2. A consumer can get world class goods everywhere at economical rates.
3. It has made a variety of goods available for consumers in the market.
4. Consumers can easily avail the latest product with advanced technology.
5. Multiplex shopping centers are offering multibrands facilities to the consumer at one roof.
Advantages to Producers
1. The producers now have access to the international markets.
2. Globalization has also enabled free movement of capital.
3. Globalization has enabled access to foreign investment in capital and Technology via foreign direct investment etc.
Ans.
Advantages to consumers:-
1. Globalization has led to Employment generation, as a result, beneficial to the consumers.
2. A consumer can get world class goods everywhere at economical rates.
3. It has made a variety of goods available for consumers in the market.
4. Consumers can easily avail the latest product with advanced technology.
5. Multiplex shopping centers are offering multibrands facilities to the consumer at one roof.
Advantages to Producers
1. The producers now have access to the international markets.
2. Globalization has also enabled free movement of capital.
3. Globalization has enabled access to foreign investment in capital and Technology via foreign direct investment etc.
Q23. How does the government attract foreign investment? Explain different ways.
Ans.
Ans.
1. By setting up special economic zones.
2. To provide world class facilities cheap electricity, Road, Transport, storage etc.
3. Exemption to pay tax for five years.
4. Labor law is flexible.
5. Companies hire workers flexibly for a short period.
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2. To provide world class facilities cheap electricity, Road, Transport, storage etc.
3. Exemption to pay tax for five years.
4. Labor law is flexible.
5. Companies hire workers flexibly for a short period.
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