CBSE Questions for Class 12 Commerce Economics Liberalization,Privatisation And Globalisation: An Appraisal Quiz 3 - MCQExams.com

If privatization is to take off and help realize higher productivity and profit, the essential pre-requisite are ___________.
(i) Liberalization.
(ii) Regulation
(iii) Deregulation
(iv) Globalization
  • (i) Only
  • (iii) Only
  • (i) and (iii)
  • (i), (ii) and (iv).
Disinvestments means selling of a public investment to ___________.
  • private enterprises
  • public enterprises
  • capital market
  • departmental enterprises
Privatization in India generally is in the form of disinvestments of _____________.
  • debts
  • equity
  • debenture
  • non-current liabilities
Which international organization does not facilitate the process of globalization?
  • IBRD
  • IDBI
  • IMF
  • WTO
Disinvestment Commission in India was established in ___________.
  • August 1992
  • August 1995
  • August 1996
  • May 1997
Disinvestments programme was started in ____________.
  • 1990-91
  • 1991-92
  • 1992-93
  • 1993-94
Chronically sick public units will be referred to ___________.
  • BIFR
  • BEFR
  • private sector
  • none of the above
As a part of privatization program government equity in the public sector is being unloaded in the market, this known as _________.
  • disinvestment
  • liberalization
  • globalization
  • free economy
Select the incorrect one/ones about the meaning of 'privatization' from the list given below, using the code:
The process of de-nationalisation
Divesting the shares of the government - owned companies
De-licensing, dismantling permit and quota, allowing foreign investment, etc.
  • $$1$$ and $$2$$
  • Only $$2$$
  • $$2$$ and $$3$$
  • $$1, 2$$ and $$3$$
Privatization is introduced mainly  ___________.
  • to improve efficiency of government undertakings
  • to reduce budgetary deficit
  • to ensure better utilization of resources
  • all of the above
WTO stands for ____________.
  • World Tour Organisation
  • World Tourist Organisation
  • World Trade Organisation
  • None of above
Select the incorrect statement related to the trade regulation by the WTO, using the code given below:
It provides most favoured nation (MFN) treatment to all member countries for each other.
Member economies are not allowed to impose 'anti-dumping' or 'counter veiling' duties.
Treating a product of foreign origin for custom imposition by the member countries is not allowed in normal case.
  • Only $$1$$
  • $$1$$ and $$3$$
  • Only $$2$$
  • $$2$$ and $$3$$
The WTO allows its member nations to impose suitable custom duties on imports when -
there is a sudden surge in imports with fast depletion of foreign currency reserves in a country.
the country manages a comfortable level of forex reserves but faces the imminent risk of balance of payment crisis.
  • Only $$1$$
  • $$1$$ and $$2$$
  • Only $$2$$
  • None of the above
Which of the following is/ are correct about the famous 'Washington Consensus'?
It recognises the limits of a state-dominated economy.
It was usually seen as a corollary of promoting 'naked capitalism'.
The view promoted by it is also known as 'neo-liberalism'.
  • $$1$$ and $$2$$
  • $$2$$ and $$3$$
  • $$1$$ and $$3$$
  • $$1, 2$$ and $$3$$
For the first time since the WTO came into being the developed nations wanted to introduce 'new issues' inside its fold which was opposed by the developing nations. Select those new issues upon which a consensus could not emerge, using the code given below:
Global value chain
e-Commerce
Competition and Labour ways
Environment and Investment.
  • $$1$$ and $$2$$
  • $$2$$ and $$3$$
  • $$1, 2$$ and $$3$$
  • $$1, 2, 3$$ and $$4$$
What is the term used for interdependence among countries with regard to goods, services, capital, etc.?
  • Deregulation.
  • Globalization.
  • Liberalization.
  • Privatization.
Which of the following were the aims behind the setting up of the world Trade Organization (WTO)?
Promotion of free trade and resource flow across countries
Protection of intellectual property rights
Managing balanced trade between different countries
Promotion of trade between the former East Block countries and the western world.
Select the correct answer using the codes given below:
  • 1, 2, 3 and 4
  • 1 and 2
  • 2 and 3
  • 1 and 4
In the context of the affairs of which of the following is the phrase "Special Safeguard Mechanisms" mentioned in the news frequently?
  • United Nations Environment Programme
  • World Trade Organisation
  • ASEAN-India Free Trade Agreement
  • G-20 Summits
NAMA-11, group of countries frequently appears in the news in the context of the affairs of which one of the following?
  • Nuclear Suppliers Group
  • World Bank
  • World Economic Forum
  • W.T.O
Which country started privatisation of state-owned enterprises as a major state policy?
  • UK under Margaret Thatcher
  • Russia in CIS
  • Mexico, Argentina and Brazil
  • Italy, France and Malaysia
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