CBSE Class 10 Social Science Competency Based Questions Globalization and the Indian Economy avilable here. We have included total 3 set of passage. Each passage has 3 questions. Students who are going to prepare their Board exam please Read the passage below and answer the following questions.
Globalization and the Indian Economy Class 10 Competency Based Questions:
1) Read the passage below and answer the following questions
Colonies such as India exported raw materials and food stuff and imported finished goods. Trade was the main channel connecting distant countries. This was before large companies called multinational corporations (MNCs) emerged on the scene. A MNC is a company that owns or controls production in more than one nation.
1.) Identify the incorrect pair of statements.
1) The production is organised in more simplified ways.
2.) MNCs establish their production unit where they get cheap labour.
3.) MNCs establish their production unit where they get raw materials.
4.) The goods and services are produced nationally.
a) 1, 2, 3, and 4
b) 2 and 3
c) 1 and 4
d) 1 and 3
2.) What India offers to an MNC?
India offers highly skilled engineers who can understand the technical aspects of production. It also has educated English speaking youth who can provide customer care services. Thus, India offers many benefits to any Multinational Company for outsourcing their jobs.
3.) In an MNC-
a) Goods and services are produced globally.
b) The process of production is organized in complex ways.
c) The process of production is simplified.
d) Both a and b
2) Read the passage below and answer the following questions
In general, MNCs set up production where it is close to the markets; where there is skilled and unskilled labour available at low costs; and where the availability of other factors of production is assured. In addition, MNCs might look for government policies that look after their interests.
1.) What are the investments made by any Multinational company?
The money that is invested in buying land, building, machines, and other equipment are the investments made by any multinational company. This investment is also known as foreign investment.
2.) How does a local company benefit from a multinational company?
Many of the times a multinational company set up production units jointly with some of the local companies of a country and in this way the production of the local company is doubled, and it gets benefitted from the multinational company.
3.) What are the benefits of a MNC from the national perspective?
a) Buying of land
b) Clearing of forests
c) Latest technology is introduced in production.
d) Both a and c
3) Read the passage below and answer the following questions
Thus, barriers on foreign trade and foreign investment were removed to a large extent. This meant that goods could be imported and exported easily and also foreign companies could set up factories and offices here.
1.) Which of the following is an example of a trade barrier?
a) Tax on exports
b) Tax on imports
c) Restrictions on foreign trade
d) Both b and c
2.) What is the correct definition of liberalization?
a) Rapid integration and interconnection between countries.
b) Removing barriers from international trade.
c) Promoting only nation made goods.
d) Restricting foreign relations.
3.) How two or more countries are more interconnected today in this globalized world?
Two or more countries are more interconnected today by movement of goods and services, investment and technology transfers, and also through the movement of people in search of better income, education, jobs, tourism etc.
4.) DIRECTIONS for the question: In each of the questions given below, there are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the codes provided below:
Assertion(A): All countries in the world should liberalise their policies.
Reason(R): World Trade Organisation says that all barriers to foreign trade and investment are harmful.
a) A is false but R is true.
B) A is true but R is false.
C) Both A and R are true, and R is the correct explanation of A.
D) Both A and R are true, but R is not the correct explanation of A.
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