4

Economics

Globalisation and the Indian Economy

417+ practice questions available

Sample Practice Questions

5 questions shown — tap “Show Answer” to check yours.

1
Easy

Which of the following is an example of service export from India?

AIndian IT company providing software to a US bank
BIndia buying crude oil from Iraq
CAn Indian tourist visiting France
DIndia importing gold from Dubai
2
Hard

Assertion (A): India withdrew from RCEP (Regional Comprehensive Economic Partnership) in 2019. Reason (R): India feared that RCEP would flood the Indian market with cheap Chinese goods, hurting domestic industry and agriculture. Choose the correct option:

ABoth A and R are true, and R is the correct explanation of A
BBoth A and R are true, but R is NOT the correct explanation of A
CA is true but R is false
DA is false but R is true
3
Medium

How do trade barriers like quotas affect the quantity of imports?

AThey increase the quantity of imports
BThey limit the quantity of imports
CThey have no effect on the quantity
DThey make imports free for everyone
4
Hard

Assertion (A): Globalisation has led to a 'race to the bottom' in labour standards in some industries. Reason (R): Countries and exporters compete to attract MNCs by offering the lowest possible labour costs and most flexible laws.

ABoth A and R are true and R is the correct explanation of A
BBoth A and R are true but R is not the correct explanation of A
CA is true but R is false
DA is false but R is true
5
Medium

How does the WTO resolve trade disputes between member countries?

ABy going to war
BThrough a formal dispute settlement mechanism
CBy ignoring all complaints
DBy asking the UN to decide

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