CBSE Class 10 Social Science Globalisation and Indian Economy Important Questions

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[A].1 MARK QUESTIONS:-

Que.No.1: What is Globalisation?

Ans:- Globalisation refers to integration of a country's economy with world economy.

 

Que.No.2: What are MNC?

Ans:-Multinational Corporations are the companies operating in more than one or more countries.

 

Que.No.3:.Define Trade Barrier.

Ans:-Trade barriers are the restrictions put by the government to regulate foreign trade.

 

Que.No.4: How many countries are currently the members of WTO?

Ans:- More than 159 countries are the members of WTO.

 

Que.No.5: What does SEZ stands for ?

Ans:-  Special Economic Zone.

 

Que.No.6: What are Special Economic Zone?

Ans:-Special Economic Zones are the industrial centre having world class facilities provided by the host government to the multinational company.

 

Que.No.7: Name two top MNCs of India

Ans:-  (i)Tata Motors(Automobiles) 

          (ii)Infosys(IT).

 

Que.No.8: Name the Finance Minister of India who initiated Globalisation.

Ans:- Dr. Manmohon Singh initiated Globalisation.

 

Que.No.9: What is Trade Surplus?

Ans:- Trade Surplus refers to the profits incurred by a company or government from international trade.

 

Que.No.10: Which sector of India is a rising sector in the field of communication?

Ans:- Information and Technology sector is a rising sector in the field of communication.

 

[B]. 3 MARKS QUESTIONS:-


Que.No.1: How would flexibility in labour laws help companies?

Ans:-  Flexibility in labour laws would help - 

 (i)  Labour force can be utilised beyond working hours.

(ii)  Maximum profit or least cost.

(iii) Less liability of the company in case of any casuality.

 

 Que.No.2:.Write the ways MNCs set up control production in other countries.

Ans: (i) Some MNC directly take over the sick industries of the host countries.

        (ii) MNC work in collaboration with the companies of host countries.

        (iii) Many MNC have tie-up with small companies.They supply them raw materials and technology and finished products are branded by them.

 

Que.No.3: What is Globalisation? What do you understand by liberalisation of Foreign Treade ?

Ans:- Globalisation refers to integration of a country’s economy with world economy. Removing barriers or restrictions set by the government is what is known as liberalisation.

 

Que.No.4: Why government of India put trade barrier?

Ans (i) Trade barriers are restrictions in foreign trade.

      (ii) Government gave enough oppurtunities to indigeneous companies of India to flourish.

      (iii) Through trade barriers government wants to protect labours and environment.  

 

Que.No.5:.Explain the concept of Fair Globalisation.

Ans:-    (i)  Fair Globalisation refers sharing the benefits of globalisation by all countries-developed and developing.

           (ii)  Fairer rules set by World Trade Organisation.

           (iii) Participation of people in the process of globalisation .  (Any other relevant point.)

 

Que.No.6: In what ways MNCs are different from other companies?

Ans:-

                MNC

           OTHER COMPANIES

1.Operate in more than one or more countries.

1.Operate in a single country.

2.Huge investment capacity.

2.Relatively less investment capacity.

3.Can pressurise the host government to provide Special Economic Zone(SEZ).

3.Operate within the laws of their country.

            

Que.No.7: Explain the ways government adopt to attract foreign companies for investment in India.

Ans:- (i)  Liberalise Labour Laws.

         (ii)  Establishment of Special Economic Zones.

         (iii) Relaxation in taxation policies for MNC. 

 

[C]. 5 MARKS QUESTIONS:-


 Que.No.1:.’Globalisation is a mixed blessing.’Explain the statement in context of India.

Ans:-  Advantages:-

    (i)   FDI accelerates economic growth of the host country.

    (ii)  Consumers paradise due to competition in market.

    (iii) MNC provide employment opportunities to the people in host countries.

    Disadvantages:-

    (i)Environmental hazards.

    (ii)Exploitation of labours.

    (iii)Drainage of resources of the host country and profit swallowed by MNC.

 

Que.No.2:.Why do developed countries want developing countries to liberalise their trade and investment? What do you think should developing countries demand in return?

 Ans:- Developed countries want to:-

      (i)  Liberalisation of the developing countries .

     (ii)  Establishment of SEZ.

     (iii) Concessions in matters as taxation, customs etc.

Developing countries want in return:-

(i)Fair globalisation.

(ii)Part of profit to be spent for eco-friendly approach.

(iii)More job opportunities for the unemployeds.

 

Que.No.3: "Globalisation will continue in future". Give reasons for your answer.

Ans:- (i)Globalisation process (LPG) opted by more and more countries.

         (ii)World is shrinking day by day.

        (iii)Exchange of technology between countries .

        (iv)Sharing of countries in matters of environment,resources etc.

       (v)Role of UNO and WTO to formulate fairer rules for the members countries.

           (Any other relevant points.)

 

Que.No.4:.Write about the organisation and functions of WTO.

Ans:- (i)WTO came to limelight in handling globalisation.

         (ii)More than 159 countries are the members of WTO.

        (iii)WTO is entrusted to formulate laws for international trade and commerce.

        (iv)Putting pressure on countries …….’Trade Barriers’.

        (v)Judicious attitude towards following a fair globalisation policy.

          (Any other relevant point.)

 

Que.No.5:.What factors enabled globalization in India?

Ans:- (i)Failure of mixed economy pattern in India within 40 years.

         (ii)Government owned enterprises incurred huge loss.

         (iii)India took ‘U’ turn to embrace globalisation.Initiative taken by the then Finance Minister Dr.Manmohan Singh.

         (iv)Integration of India’s economy with world economy. 

         (v)Globalisation helps in coming of technology,goods and services.(Any other relevant point.) 

 

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