CBSE Class 10 Social Science Important Questions and Answers: Economics Chapter 4 Globalisation and The Indian Economy

CBSE Class 10 Social Science Important Questions:  In this article, we bring to you the important questions and answers from Social Science (SST) Economics 4th Chapter Globalisation and the Indian Economy from the perspective of 2023 board exam. The answers to these important questions will also be attached towards the end of the article.

CBSE Class 10 Social Science Economics Chapter 4 Important Questions and Answers
CBSE Class 10 Social Science Economics Chapter 4 Important Questions and Answers

CBSE Class 10 Social Science Important Questions: In this article, we have discussed some of the most important multiple choice questions and assertion reason questions from the 4th chapter Globalisation and the Indian Economy of CBSE Class 10 SST Economics curriculum. Using these, students will be able to prepare for their examination in the best way.

Globalisation and The Indian Economy is the fourth chapter of the 4th unit Understanding Economic Development. This chapter of CBSE Class 10 Social Science (Economics) syllabus covers the term globalisation in a limited

Sense through the lens of the integration between countries through foreign trade and foreign investments by multinational corporations (MNCs). The topics covered under this chapter are Production across countries, Interlinking production across countries, Foreign Trade and integration of markets, understanding Globalization,  Factors that have enabled Globalization, World Trade Organization, Impact of Globalization in India, The Struggle for a fair Globalisation.

To view the complete syllabus of CBSE Class 10 Social Science Economics Chapter four, visit CBSE Class 10 Social Science Syllabus 2022-2023

ALSO CHECK: CBSE Class 10 Social Science DELETED Syllabus 2022-2023

CBSE Class 10 Social Science Economics Chapter 4 Important Questions 

All the given important questions have been prepared by subject experts after special analysis of the latest NCERT Economics textbook ‘Understanding Economic Development ’, the latest syllabus, sample paper and marking scheme for 2023 and the previous year question papers. 

MULTIPLE CHOICE QUESTIONS

  1. Which one of the following organizations laid stress on liberalisation of foreign trade and foreign investment?
  1. International Monetary Fund
  2. International Labour Organisation
  3. World Health Organisation
  4. World Trade Organisation
  1. Globalisation will result in:

(a) more competition among producers

(b) less competition among producers

(c) no change in competition among producers

(d) none of the above

3. ............ have been a major force in the globalization process connecting distant regions of the world?

  1. Traders
  2. International companies
  3. Multinational corporations
  4. Businesses houses
  1. An important factor causing globalisation is

(a) more income

(b) expansion of markets

(c) technological developments

(d) urbanisation

5. Investment means spending on

  1. Factory building
  2. Machines
  3. Equipments
  4. All the above
  1. Globalisation has led to improvement in living conditions:

(a) of all the people

(b) of people in the developed countries

(c) of workers in the developing coutries

(d) none of the above

  1. The money that is spent to buy assets such as land, building, machines and other equipment by MNCs is called.........?
  1. Investment
  2. Foreign Investment
  3. Domestic investment
  4. International investment

8. The reason due to which multinational companies set up their branches in other countries is

(a) cheap labour and resources

(b) welfare motive

(c) to generate employment

(d) to generate income

9. When did the Indian Government introduced a policy of liberalisation known as ‘New Economic Policy’ ?

(a) 1980

(b) 2000

(c) 1994

(d) 1991

  1. Which of the following industries have been hard hit by foreign competition?
  1. Dairy products
  2. Leather industry
  3. Cloth industry
  4. Vehicle industry
  1. BPOs have benefited growth of:

(a) local companies

(b) national companies

(c) MNCs

(d) none of these

  1. Which one of the following is not true regarding the World Trade Organisation?
  1. It allows free trade to all countries without any trade barriers.
  2. Its aim is to liberalize international trade.
  3. It establishes rules regarding international trade.
  4. WTO rules have forced the developing countries to remove trade barriers.
  1. Liberalisation is .......... :

(a) more trade

(b) removing barriers or restrictions set by the government

(c) checking barriers by the government

(d) help by the government

  1. MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below
  1. Availability of cheap skilled and unskilled labour
  2. Proximity to markets
  3. Presence of a large number of local competitors
  4. Favourable government policies

15. Tata Steel is an:

(a) American MNC

(b) Indian MNC

(c) Chinese MNC

(d) none of these

ASSERTION REASON QUESTIONS

DIRECTION : Mark the option which is most suitable:

(a) If Both assertion and reason are true, and reason is the correct explanation of assertion.

(b) If Both assertion and reason are true, but reason is not the correct explanation of assertion.

(c) If Assertion is true, but reason is false.

(d) If Both assertion and reason are false.

  1. Assertion : Global production has a complex structure.

Reason : Production of one good may take place in different parts of the world. For instance, an equipment may be formed by combining components produced in different countries.

  1. Assertion : A tax on imports makes the market for imported goods lucrative in terms of earning higher profits.

Reason : Taxes are imposed to ensure smooth trade between nations and higher tax revenues for the governments of the countries.

  1. Assertion : Local businesses may set up joint production process with MNCs and earn higher profits.

Reason : MNCs can provide money for additional investments, like buying new machines for faster production.

  1. Assertion : The removal of barriers to trade is known as liberalization.

Reason : federalization of trade allows businesses to freely decide which goods to import and export.

  1. Assertion : MNCs can exert a strong influence on production at distant locations.

Reason : MNCs set up partnerships with local companies, use local companies for supplies, compete with local companies or buy them up.

  1. Assertion : Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.

Reason : Foreign trade expands the choice of goods beyond what is domestically produced.

Download Answers to CBSE Class 10 Social Science Economics Chapter 4 Important Questions

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