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Chapters
1: Meaning and Definition of Economics
2: Basic Economic Entities in an Economy
3: Basic Problems of An Economy
4: Types of Economies
2. An Overview of Indian Economy
5: Characteristics of Indian Economy
6: Main Sectors of Indian Economy : Agriculture
7: Main Sectors of Indian Economy : Industry
8: Main Sectors of Indian Economy : Services
9: Other Sectors of Indian Economy
3. Infrastructure of the Indian Economy
10: Economic Infrastructure
11: Social Infrastructure
4. Consumer Awareness
12: Consumer Awareness
5. Globalization
▶ 13: Globalisation
![J. P. Goel and Kaushal Goel solutions for Economic Applications [English] Class 9 ICSE chapter 13 - Globalisation - Shaalaa.com](/images/economic-applications-english-class-9-icse_6:af534602dfa245b6b0f8aa2f73a180ce.jpg "J. P. Goel and Kaushal Goel solutions for Economic Applications [English] Class 9 ICSE chapter 13 - Globalisation")
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Solutions for Chapter 13: Globalisation
Below listed, you can find solutions for Chapter 13 of CISCE J. P. Goel and Kaushal Goel for Economic Applications [English] Class 9 ICSE.
J. P. Goel and Kaushal Goel solutions for Economic Applications [English] Class 9 ICSE 13 Globalisation QUESTIONS [Pages 179 - 182]
MULTIPLE CHOICE QUESTIONS:
Globalisation shall result in ______.
lesser competition among producers
greater competition among producers
greater competition among buyers
destruction of large-scale producers
The most common route for investments by MNCs in countries around the world is to ______.
set up new factories
buy existing local companies
form partnerships with local companies
none of these
Which one of the following is a major benefit of a joint production between a local company and a multinational company?
MNC can bring the latest technology in the production.
MNC can control the increase in price.
MNC can buy the local company.
MNC can sell the products under their brand name.
Tax on imports is an example of ______.
Terms of trade
Collateral
Trade barriers
Foreign trade
Removing barriers or restrictions set by the government is known as ______.
globalisation
privatisation
liberalisation
fair trade practice
Effect of Chinese toys on Indian toy market is ______.
no effect
making profit
suffering from losses
none of these
Which one of the following is not true regarding the impact of globalisation in India?
It has created jobs in the service sector.
People with education, skill, and wealth have not been benefited.
Benefits of globalisation are not shared equally.
Labour laws are not implemented properly, and workers are denied of their rights.
______ means integrating the domestic economy with the world economy.
Globalisation
Privatisation
Liberalisation
Disinvestment
When was the New Economic Policy announced?
1991
2001
1995
2004
Which of the following is a ‘barrier’ of foreign trade?
Import quota.
Tax on imports.
Tax on local trade.
Both the import quota and the tax on imports.
Why did the government decide to remove barriers on foreign trade and foreign competitor?
To earn the foreign exchange.
To compete with producers in the world market.
To bring faster growth in the economy.
All of these.
Ranbaxy is a multinational company which is associated with ______.
automobiles
cell phones
medicines
none of these
Which of the following describes as a positive impact of globalisation for India?
Greater access to global markets.
High technology.
Increased possibility of large industries of India to become MNCs.
All of these.
Globalisation of the Indian Economy is the outcome of ______.
Rapid growth in IT technology
Liberalisation measures
Both rapid growth in IT technology and liberalisation measures
Outsourcing
WTO was established in the year 1948.
True
False
Can’t say
None of these
Which of the following statements is/are true?
- Globalisation removes inefficiency among industrial firms, which become careless in the absence of competition.
- The activities of MNCs are spread across the countries.
Only I
Only II
Both I and II
None of these
Assertion (A): New Economic Policy (NEP), introduced in 1991, initiated liberalisation of the Indian Economy.
Reason (R): Liberalisation, privatisation, and globalisation are 3 main components of the New Economic Policy.
Alternatives:
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true, and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Assertion (A): Technology has stimulated globalisation process.
Reason (R): The use of computers, internet mobile phones have made contact with each other around the world.
Alternatives:
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true, and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Assertion (A): WTO was established in 1995 to facilitate international trade.
Reason (R): The WTO agreements cover only trade in goods.
Alternatives:
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true, and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Assertion (A): India has become a favourable destination of outsourcing for most of the MNCs.
Reason (R): India has vast, skilled, and cheap manpower, which enhances the faith of MNCs for outsourcing in India.
Alternatives:
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true, and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I:
| Column I | Column II |
| (A) Globalisation | (i) Promotes multilateral trade |
| (B) Privatisation | (ii) Integration of Indian economy with the world economy |
| (C) Liberalisation | (iii) Removal of restrictions on trade and industry |
| (D) WTO | (iv) gives greater role to private sector |
A - (i), (B) - (ii), (C) - (i), (D) - (iii)
A - (iv), (B) - (iii), (C) - (i), (D) - (ii)
A - (ii), (B) - (iv), (C) - (iii), (D) - (i)
A - (ii), (B) - (i), (C) - (iv), (D) - (iii)
SHORT ANSWER TYPE QUESTIONS:
What is meant by ‘liberalisation’?
What is globalisation?
Mention any two factors that have facilitated the globalisation process.
What is the WTO?
Write any two negative impacts of globalisation on the Indian economy.
What is meant by SEZ?
What do you mean by a Multinational Corporation?
Suggest one way to promote foreign investment in India.
LONG ANSWER TYPE QUESTIONS:
Explain how technology has promoted the globalisation process.
How has liberalisation of trade and investment policies helped the globalisation process?
Mention any three positive impacts of globalisation.
Briefly describe the functions & objectives of the WTO.
State the objectives of WTO.
Explain the various liberalisation measures undertaken by the government of India since 1991.
How has globalisation been beneficial to the producers in India?
How has globalisation been beneficial to the consumers in India?
What is globalisation?
Mention any three positive impacts of globalisation.
Write any two negative impacts of globalisation on the Indian economy.
Define outsourcing.
Why has become India a favourite destination for outsourcing?
Globalisation process has resulted in unbalance growth in India. Discuss.
J. P. Goel and Kaushal Goel solutions for Economic Applications [English] Class 9 ICSE 13 Globalisation QUESTION BANK [Pages 182 - 184]
What is globalisation?
What is meant by ‘liberalisation’?
What is meant by trade barrier?
What do you mean by a Multinational Corporation?
What is foreign investment?
Explain the meaning of foreign direct investment.
What is outsourcing?
What is the WTO?
When was the WTO set up?
What is meant by SEZ?
Why are tariffs imposed?
Describe any three ways in which countries can be linked through globalization.
“Foreign trade is an important component of globalisation”. Explain any three points in this regard.
How do MNCs help in the growth of the local companies?
In what ways is an MNC different from other companies? Explain.
India has certain advantages which make it a favourite outsourcing destination. What are these advantages?
Do you think outsourcing is good for India? Why are developed countries opposing it?
“The impact of globalisation has not been uniform.” Explain this statement.
Explain how liberalisation has helped the globalisation process.
Explain how advancement in technology has helped the globalisation process.
Solutions for 13: Globalisation
J. P. Goel and Kaushal Goel solutions for Economic Applications [English] Class 9 ICSE chapter 13 - Globalisation
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