Class 10 Social Science: Globalisation and the Indian Economy important questions

Globalisation and the Indian Economy is a chapter of Class 10 Social Science for the CBSE. These 10 questions are marked Very Important, Important or Practice, and each answer has been checked by our team. Use them to revise, not as a prediction of what will come in the exam.

1. Practice · 1 marks

   1. Which of the following international agencies allow free trade and work on mutual trade between countries? A. WTO B. IMF C. UPU D. FAO

   A. WTO

2. Practice · 1 marks

   2. Identify the correct statements about globalization. I. Removal of barriers by the government II. Foreign companies are allowed to set up factories III. Has enabled all companies to increase their investments IV. Has lessened foreign investment and foreign trade OPTIONS: A. I &II B. II & III C. I & III D. II & IV

   A. I & II

3. Important · 3 marks

   3. In what ways Multi National Corporation (MNC) different from other companies? Explain with an example.

   i. Domestic companies tend to restrict their operations to the country of origin, while multinational corporations operate in more than two countries. Ex- Infosys ii. Companies (Infosys) expand globally for many reasons, mostly to obtain new markets, cheaper resources and reduction in operational costs, all of which significantly affect financial management. These benefits also increase the risks faced by multinational corporations. iii. Multinational (Infosys) financial management differs from domestic financial management in six essential ways iv. Unlike their domestic financial management counterparts, multinationals are subject to exchange rates that differ based on the prevailing inflation rate in the foreign countries where they operate. v. Any other point (ANY THREE POINTS)

4. Practice · 1 marks

   4. Evaluate the impacts of opening foreign trade on the global economy by identifying the appropriate statements among the following options: I. The choice of goods in the markets increase. ii. Producers from two countries closely compete against each other despite the distance between their locations. iii. Foreign trade thus results in connecting the markets or integration of markets in different countries. iv. The quality of the product is always good. Options: a. Statements i and ii are appropriate. b. Statements i, ii and iii are appropriate. c. All the statements are appropriate. d. Only statement iv is appropriate.

   b. Statements i, ii and iii are appropriate.

5. Practice · 1 marks

   5. The process of integration between different countries is called as________. a. Privatization b. Globalization c. Liberalization d. Competition

   b. Globalization

6. Practice · 1 marks

   6. Which of the following factors significantly contribute to the process of globalisation? Select the correct options. 1. Expansion of Multinational Corporations (MNCs). 2. Advancements in information and communication technology. 3. Nationalisation and trade barriers. 4. Cross-border movement of people for jobs and education. Options: (A) Statements 1 and 2 are appropriate. (B) Statements 1, 2 and 3 are appropriate. (C) Statements 2, 3 and 4 are appropriate (D) Only statement 3 is appropriate Options: (A) Statements 1 and 2 are appropriate. (B) Statements 1, 2 and 3 are appropriate. (C) Statements 2, 3 and 4 are appropriate (D) Only statement 3 is appropriate

   (A)- Statements 1 and 2 are appropriate.

7. Practice · 1 marks

   7. The result of greater foreign investment and greater foreign trade has been _______________________across countries. Find the correct option from below. (A) greater bifurcation of production and markets (B) greater segregation of production and markets (C) greater differentiation of production and markets (D) greater integration of production and markets

   (D)- greater integration of production and markets

8. Important · 3 marks

   8. Highlight the significant three factors that have contributed to the growth of globalisation.

   1. the movements of goods and services, 2. information and communication technology 3. Transportation technology 4. movement of people between countries 5. Liberalisation of foreign trade and foreign investment policy Any other relevant point (any 3 well explained)

9. Practice · 1 marks

   9. In the following question, a statement of Assertion (A) is followed by a statement of Reason(R). Choose the appropriate answer from the options given below as the correct answer: Assertion (A): Multi-National Companies help in integrating production and markets across countries. Reason (R): They set up production units in one country and export goods and components to other countries. Choose the correct option- A. Both A and R are true, and R is the correct explanation of A B. Both A and R are true, but R is not the correct explanation of A C. A is true, but R is false D. A is false, but R is true

   A. Both A and R are true, and R is the correct explanation of A

10. Important · 3 marks

    10. Improvements in technology and liberalization together have accelerated globalization. Evaluate.

    1. Technology (transport, telecom, Internet) allows fast movement of goods, services, and information across countries. 2. Liberalisation reduces trade barriers and allows foreign investments, making it easier for businesses to operate globally. 3. Together, they increase interconnection between countries, integrate markets, and expand opportunities for trade and investment. (Or any other relevant point) – (any 3)