Liberalised Trade Policies to Promote Globalisation

Q.

What Is Liberalisation With Example?

Q.

What Is Liberalisation in India and Its Features?

Q.

Removing barriers or restrictions set by the government is known as

Q. In which year did India introduce the special economic zone (SEZ) initiative?

1. 2005
2. 2002
3. 2000
4. 1991

Q. How does imposing higher taxes on imports help in restricting foreign trades?

1. Imposing a higher tax on imports encourages the importers to make more profit.
2. Imposing a higher tax on imports reduces the expenditure of the government.
3. Imposing a higher tax on imports results in an increase in the market price and reduces the demand for imported goods.
4. Imposing a higher tax on imports impacts the export of goods and services to other countries.

Q. Trade barriers usually refer to the designed to restrict international trade with other countries.

1. trade secrets
2. trade policies
3. trade schemes
4. trade staretegies

Q. Match the special economic zones with their respective locations.

1. Maharashtra
2. Gujarat
3. Kerala
4. West Bengal

Q.

Explain The Effect Of The Appreciation Of Domestic Currency On Imports

Q. Which of the following statement(s) highlight(s) the status of the Indian economy during the British rule in India?

1. Impressive industrial growth
2. Deterioration of Indian agriculture
3. Establishment of large number of industries
4. Degredation of industrial sector

Q. When did India introduce the New Economic Policy?

1. 1992
2. 2000
3. 1993
4. 1991

Q. Which of the following purposes do trade barriers serve?

1. Restrict domestic investment
2. Restrict internationl trade
3. Restrict participation of workers in management
4. Restrict government intervention in businesses

Q.

What Is Liberalisation in Simple Terms?

Q. In April 2005, special economic zones were established in various parts of India.

1. False
2. True

Q. Country X wants to protect their domestic trade and considers placing trade barriers. Which of the following tools can country X use?

1. Revoke permits of domestic companies
2. Import quota
3. Restriction on domestic production
4. Taxation

Q.

What Is the Difference Between Liberalisation and Globalisation?

Q. In which state is the Santa Cruz SEZ located?

1. West Bengal
2. Maharashtra
3. Tamil Nadu
4. Kerala

Q. In which year did the Indian economy witness a major financial crisis?

1. 1980
2. 1991
3. 1997
4. 1978

Q. Which of the following challenges does a domestic producer face in case of unrestricted foreign trade?

1. Shortage of capital
2. Restriction in business expansion
3. Competition from imports
4. More legal scrutiny

Q. Which of the following is an Indian company?

1. IBM
2. Microsoft
3. Ranbaxy
4. Google

Q. Where was Falta SEZ set up?

1. Kerala
2. Maharashtra
3. Andhra Pradesh
4. West Bengal

Q. A Mumbai-based company wants to set up production units in Santa Cruz SEZ in Maharashtra. Which of the following benefits can the company expect in this case?

1. Exemption from paying tax for an initial period of ten years
2. Exemption from paying tax for an initial period of five years
3. Appointment of board members by the state government
4. Flexibility in certain labour laws

Q. Which of the following can impose quota restrictions on imports?

1. MNCs
2. Consortium of companies
3. Government
4. Producers

Q. India has never implemented trade barriers on its imports.

1. False
2. True

Q. What is the meaning of trade barriers?