CBSE Questions for Class 12 Commerce Economics Liberalization,Privatisation And Globalisation: An Appraisal Quiz 2 - MCQExams.com

State whether the following statements are True or False.
Global economy and international economy means the same.
  • True
  • False
State whether the following statements are True or False.
Globalisation will adversely affect poor farmers.
  • True
  • False
 _______ is/are the ways towards liberalization.
  • Privatisation
  • Liberalize economic policies.
  • Financial sector reforms.
  • All of the above
Which of these is not a method of privatization ?
  • Leasing
  • Divestment
  • Franchising
  • Public action
Privatization means ________.
  • transfer of assets or services from public ownership to private ownership in part or full.
  • sale of all government assets and properties to public.
  • sale of profit making companies to multi-national companies.
  • sale of loss making PSUs to foreign countries.
State whether the following statements are True or False.
New Economic Policy of 1991 aimed at liberalisation of Indian Economy.
  • True
  • False
Privatization is normally opposed by _________.
  • trade unions
  • government employees in public sector
  • communist and socialist parties
  • all of the above
WTO was formed in _______.
  • 1949
  • 1999
  • 1995
  • 2001
ICSID was founded in _______.
  • 1966
  • 1976
  • 1980
  • 1975
World Trade Organization (WTO) came in existence on ___________.
  • 1.1.1995
  • 1.4.1995
  • 1.6.1995
  • 1.9.1995
Which of the following statements is correct?
  • The disinvestment programmes has been successfully carried out in India.
  • Privatisation up to $$100$$ percent has been carried out in all the PSUs in India.
  • Under strategic sale method of disinvestment, the government sells major share to a strategic buyer.
  • None of the above.
General Agreement on Tariffs and Trade (GATT) came into existence in ________.
  • 1952
  • 1942
  • 1947
  • 1958
Regulation & control over private sector involved _______.
  • industrial licensing & MRTP Act
  • high taxation, price & distribution controls
  • foreign exchange controls
  • all of the above
For disinvestment of public sector shares, ___________ should be sufficiently developed.
  • money market
  • commodity market
  • bullion market
  • capital market
Which of the following organisation is not joined by India? 
  • APEC
  • ASEAN
  • NAFTA
  • All of the above
 ________ refers to the transfer of assets or service functions from public to private ownership.
  • Liberalisation
  • Privatisation
  • Globalisation
  • Disinvestment
As per Patents Amendment Act, 2002, term of a patent right is limited to ______.
  • 20 years from the date of filing
  • 16 years from the date of filing
  • 10 years from the date of filing
  • 5 years from the date of filing
Select the correct matching
(A) Liberalization(1) Refers to partial or full transfer of ownership and control of PSUs to the private sector.
(B) Privatization(2) Refers to relaxation of government's restriction in the scope of economic and social polices.
(C) Disinvestment(3) Refers to a method of privatization, whereby part of shareholdings of a PSU is sold to the private sector.
  • A (2) B (1) C (3)
  • A (1) B (3) C (2)
  • A (3) B (1) C (2)
  • A (1) B (2) C (3)
Present membership of WTO is around ____________ countries.
  • 135
  • 164
  • 180
  • 184
Disinvestments in India has progressed __________.
  • fastly
  • slowly
  • moderately
  • constantly
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