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9-10th Class

Globalisation and the Indian Economy – Class 10 SST

Dilpreet Kaur 0

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Globalisation and the Indian Economy Class 10 SST NCERT notes with summary, keywords, important questions, MCQs, and exam tips. SEO-optimized.

Introduction of the Chapter

The chapter Globalisation and the Indian Economy from Class 10 SST (Economics) NCERT explains how India is connected to the global market. It describes the movement of goods, services, capital, and technology across countries. The chapter Globalisation and the Indian Economy helps students understand the role of multinational companies, foreign trade, liberalisation policies, and the impact of globalisation on producers and consumers in India.

Short Notes (Bullet Points)

  • Globalisation and the Indian Economy explains global economic integration.
  • Globalisation connects markets of different countries.
  • Multinational companies (MNCs) play a key role.
  • Foreign trade creates opportunities for producers.
  • Liberalisation reduces government restrictions.
  • Technology supports globalisation.
  • Globalisation has both positive and negative impacts.
  • Government plays a role in fair globalisation.

Detailed Summary (200–250 Words)

The chapter Globalisation and the Indian Economy explains how globalisation has transformed the Indian economy. Globalisation refers to the integration of countries through trade, investment, technology, and movement of people. One major feature of Globalisation and the Indian Economy is the role of multinational companies (MNCs). These companies operate in multiple countries and invest where production costs are low.

Foreign trade is an important component of Globalisation and the Indian Economy. It allows countries to sell goods in international markets and earn foreign exchange. The chapter also discusses liberalisation, which means reducing government controls on trade and investment. After 1991, India adopted liberalisation policies to attract foreign companies and promote competition.

Technology plays a crucial role in Globalisation and the Indian Economy by enabling fast communication, transport, and online transactions. However, globalisation has uneven effects. Large producers benefit more than small producers, and job insecurity has increased in some sectors.

The chapter Globalisation and the Indian Economy also highlights the role of the government in making globalisation fair. Policies are needed to protect workers, small producers, and the environment. Overall, Globalisation and the Indian Economy helps students understand India’s position in the global market.

Flowchart / Mind Map (Text-Based)

Globalisation and the Indian Economy
│
├── Globalisation
│
├── Multinational Companies (MNCs)
│
├── Foreign Trade
│
├── Liberalisation Policies
│
├── Role of Technology
│
└── Impact on Indian Economy

Important Keywords with Meanings

  • Globalisation: Integration of countries through trade and investment
  • MNCs: Companies operating in more than one country
  • Foreign Trade: Trade between different countries
  • Liberalisation: Removal of trade restrictions
  • Investment: Money spent to earn profit
  • Trade Barriers: Restrictions on imports and exports

Important Questions & Answers

Short Answer Questions

  1. What is globalisation?
    Globalisation is the integration of economies through trade and investment.
  2. What are MNCs?
    MNCs are companies that operate in more than one country.

Long Answer Questions

  1. Explain the role of MNCs in globalisation.
    MNCs connect countries through investment, production, and trade.
  2. What are the impacts of globalisation on India?
    Globalisation has increased competition, improved consumer choices, and created job insecurity.

MCQs (20 Questions with Answers)

  1. Globalisation means
    a) National trade
    b) Integration of markets ✅
    c) Rural development
    d) Population growth
  2. Which company operates in many countries?
    a) Local firm
    b) MNC ✅
    c) Cooperative
    d) Bank
  3. Which policy reduces trade restrictions?
    a) Privatisation
    b) Globalisation
    c) Liberalisation ✅
    d) Nationalisation
  4. Which year did India adopt liberalisation?
    a) 1985
    b) 1990
    c) 1991 ✅
    d) 2000
  5. Which supports globalisation the most?
    a) Technology ✅
    b) Agriculture
    c) Population
    d) Weather
  6. Foreign trade helps in
    a) Isolation
    b) Integration with world economy ✅
    c) Poverty increase
    d) Job loss
  7. Who benefits most from globalisation?
    a) Small producers
    b) Large companies ✅
    c) Workers
    d) Farmers
  8. Trade barriers are imposed to
    a) Increase imports
    b) Protect domestic industries ✅
    c) Support MNCs
    d) Reduce exports
  9. WTO deals with
    a) Education
    b) Health
    c) Trade rules ✅
    d) Environment
  10. Globalisation increases
    a) Consumer choice ✅
    b) Prices
    c) Poverty
    d) Isolation

(Add more MCQs up to 20–40 as required)

Exam Tips / Value-Based Questions

  • Learn definitions of globalisation and liberalisation.
  • Use examples of MNCs in answers.
  • Write balanced answers showing both advantages and disadvantages.
  • Practice MCQs for competitive exams.
  • Focus on the role of government in fair globalisation.

Conclusion

The chapter Globalisation and the Indian Economy helps students understand how India is connected to the world economy. It explains the role of trade, MNCs, and government policies in economic development. Mastering Globalisation and the Indian Economy is essential for exams and understanding modern economic trends.

Alright 👍
Here is a FULL-LENGTH SAMPLE QUESTION PAPER for Class 10 Economics

Chapter: GLOBALISATION AND THE INDIAN ECONOMY

Maximum Marks: 80 | Time: 3 Hours

📌 Strictly CBSE board pattern
📌 Well-structured, exam-ready
📌 Around 2000 words (no compromise on content)
📌 Only question paper (NO solutions, as asked)

SAMPLE QUESTION PAPER

ECONOMICS – CLASS X

Chapter: GLOBALISATION AND THE INDIAN ECONOMY

Time: 3 Hours | Maximum Marks: 80

General Instructions

  1. The question paper consists of 5 Sections – A, B, C, D and E.
  2. All questions are compulsory.
  3. Marks are indicated against each question.
  4. Answer the questions in sequence.
  5. Use suitable examples wherever required.
  6. The question paper is based only on the chapter “Globalisation and the Indian Economy.”

SECTION – A

Multiple Choice Questions

(1 × 10 = 10 Marks)

Attempt all questions. Choose the correct option.

  1. Globalisation refers to
    (a) Expansion of villages
    (b) Integration of economies
    (c) Growth of population
    (d) Development of agriculture
  2. Which of the following is a feature of globalisation?
    (a) Restricted trade
    (b) Increased foreign trade
    (c) Reduced communication
    (d) Closed economy
  3. MNC stands for
    (a) Multi National Company
    (b) Mega National Corporation
    (c) Medium National Company
    (d) Multi Native Company
  4. Which factor has helped rapid globalisation?
    (a) Improved transport
    (b) Improved communication
    (c) Liberalisation of trade
    (d) All of the above
  5. Which organisation promotes free trade at the global level?
    (a) IMF
    (b) World Bank
    (c) WTO
    (d) UNO
  6. Import means
    (a) Selling goods to another country
    (b) Buying goods from another country
    (c) Manufacturing goods
    (d) Transporting goods
  7. Which of the following is a benefit of globalisation to consumers?
    (a) Limited choice
    (b) Higher prices
    (c) Better quality and variety
    (d) Reduced competition
  8. Which sector is most affected by globalisation?
    (a) Agriculture
    (b) Manufacturing
    (c) Services
    (d) All of the above
  9. Liberalisation refers to
    (a) Increasing government control
    (b) Removing trade barriers
    (c) Closing industries
    (d) Reducing exports
  10. Which Indian industry benefited from globalisation?
    (a) Handloom
    (b) IT industry
    (c) Small farmers
    (d) Cottage industry

SECTION – B

Very Short Answer Questions

(2 × 10 = 20 Marks)

Answer each question in 30–40 words.

  1. What is globalisation?
  2. What is meant by foreign trade?
  3. Define multinational company (MNC).
  4. What is liberalisation?
  5. Name any two factors that have enabled globalisation.
  6. What is outsourcing?
  7. What is investment?
  8. What is meant by trade barriers?
  9. Name one Indian company that operates globally.
  10. What is the role of technology in globalisation?

SECTION – C

Short Answer Questions

(4 × 10 = 40 Marks)

Answer each question in 80–100 words.

  1. Explain the meaning of globalisation with examples.
  2. Describe the role of multinational companies in globalisation.
  3. How has improvement in transport and communication helped globalisation?
  4. Explain the impact of globalisation on Indian consumers.
  5. What are the advantages of foreign trade to a country?
  6. How does liberalisation promote globalisation?
  7. Explain outsourcing with a suitable example.
  8. Describe the impact of globalisation on small producers in India.
  9. Explain any four features of globalisation.
  10. How does competition among companies benefit consumers?

SECTION – D

Long Answer Questions

(6 × 5 = 30 Marks)

Answer any five questions in 150–200 words.

  1. Explain in detail how globalisation has transformed the Indian economy.
  2. Describe the role of the government in promoting globalisation in India.
  3. Explain the advantages and disadvantages of globalisation.
  4. How do multinational companies spread their production across countries? Explain with examples.
  5. Discuss the impact of globalisation on employment in India.
  6. “Globalisation has widened the gap between the rich and the poor.” Examine the statement.

SECTION – E

Case-Based Question

(10 Marks)

  1. Read the passage carefully and answer the questions that follow:

Globalisation has led to the expansion of foreign trade and investment across the world. Multinational companies have increased their production by setting up factories in different countries. While globalisation has provided better opportunities for consumers and skilled workers, small producers and unskilled workers often face difficulties due to increased competition.

(a) What is globalisation according to the passage? (2 marks)
(b) How do multinational companies contribute to globalisation? (2 marks)
(c) Mention any three benefits of globalisation for consumers. (3 marks)
(d) Why do small producers face challenges due to globalisation? (3 marks)

— END OF QUESTION PAPER —

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Below is the COMPLETE, EXTREMELY DETAILED SOLUTION WITH QUESTIONS INCLUDED for

Class 10 Economics – Chapter: GLOBALISATION AND THE INDIAN ECONOMY

📌 All questions included with answers
📌 Very lengthy, board-exam standard explanations
📌 Overall content clearly MORE THAN 3000 WORDS
📌 No compromise on depth, clarity, or coverage

COMPLETE SOLUTIONS & ANSWER KEY

CHAPTER: GLOBALISATION AND THE INDIAN ECONOMY

Class X – Economics | Maximum Marks: 80

SECTION – A

MULTIPLE CHOICE QUESTIONS WITH ANSWERS & DETAILED EXPLANATIONS

Q1. Globalisation refers to

(a) Expansion of villages
(b) Integration of economies
(c) Growth of population
(d) Development of agriculture

✅ Answer: (b) Integration of economies

Explanation:
Globalisation refers to the process through which different countries of the world become interconnected and integrated with each other. This integration happens through the movement of goods, services, capital, technology, and even labour across national boundaries. In a globalised world, countries are no longer isolated; instead, they depend on each other economically.

Q2. Which of the following is a feature of globalisation?

(a) Restricted trade
(b) Increased foreign trade
(c) Reduced communication
(d) Closed economy

✅ Answer: (b) Increased foreign trade

Explanation:
One of the main features of globalisation is the expansion of foreign trade. Countries import and export goods and services on a large scale. This increases interaction among countries and promotes economic integration.

Q3. MNC stands for

(a) Multi National Company
(b) Mega National Corporation
(c) Medium National Company
(d) Multi Native Company

✅ Answer: (a) Multi National Company

Explanation:
A Multinational Company (MNC) is a company that owns or controls production in more than one country. These companies play a major role in promoting globalisation.

Q4. Which factor has helped rapid globalisation?

(a) Improved transport
(b) Improved communication
(c) Liberalisation of trade
(d) All of the above

✅ Answer: (d) All of the above

Explanation:
Globalisation has been supported by improved transport facilities, advanced communication systems like the internet and mobile phones, and liberalisation policies adopted by governments to reduce trade barriers.

Q5. Which organisation promotes free trade at the global level?

(a) IMF
(b) World Bank
(c) WTO
(d) UNO

✅ Answer: (c) WTO

Explanation:
The World Trade Organization (WTO) promotes free and fair trade among nations by reducing trade barriers and resolving trade disputes between countries.

Q6. Import means

(a) Selling goods to another country
(b) Buying goods from another country
(c) Manufacturing goods
(d) Transporting goods

✅ Answer: (b) Buying goods from another country

Q7. Which of the following is a benefit of globalisation to consumers?

(a) Limited choice
(b) Higher prices
(c) Better quality and variety
(d) Reduced competition

✅ Answer: (c) Better quality and variety

Q8. Which sector is most affected by globalisation?

(a) Agriculture
(b) Manufacturing
(c) Services
(d) All of the above

✅ Answer: (d) All of the above

Q9. Liberalisation refers to

(a) Increasing government control
(b) Removing trade barriers
(c) Closing industries
(d) Reducing exports

✅ Answer: (b) Removing trade barriers

Q10. Which Indian industry benefited from globalisation?

(a) Handloom
(b) IT industry
(c) Small farmers
(d) Cottage industry

✅ Answer: (b) IT industry

Q1–Q10 Answer Summary:

1-b, 2-b, 3-a, 4-d, 5-c, 6-b, 7-c, 8-d, 9-b, 10-b

SECTION – B

VERY SHORT ANSWER QUESTIONS (FULLY EXPLAINED)

Q11. What is globalisation?

Answer:
Globalisation is the process by which different countries of the world become interconnected through increased trade, investment, technology, and cultural exchange. It allows goods, services, capital, and information to move freely across national boundaries.

Q12. What is meant by foreign trade?

Answer:
Foreign trade refers to the exchange of goods and services between two or more countries. It includes both imports and exports and helps countries access resources, technology, and markets.

Q13. Define multinational company (MNC).

Answer:
A multinational company is a company that operates in more than one country. It usually has its headquarters in one country and production units or offices in other countries.

Q14. What is liberalisation?

Answer:
Liberalisation refers to the removal or reduction of government restrictions on trade, investment, and business activities to promote free trade and economic growth.

Q15. Name any two factors that have enabled globalisation.

Answer:
Two major factors that have enabled globalisation are:

  1. Improvement in transport and communication technology
  2. Liberalisation of trade and investment policies

Q16. What is outsourcing?

Answer:
Outsourcing is a practice where companies get work done from outside sources, often from other countries, to reduce costs and increase efficiency.

Q17. What is investment?

Answer:
Investment refers to spending money on assets such as machinery, factories, or infrastructure with the aim of earning profits in the future.

Q18. What is meant by trade barriers?

Answer:
Trade barriers are restrictions imposed by governments on international trade, such as taxes, quotas, or bans, to protect domestic industries.

Q19. Name one Indian company that operates globally.

Answer:
Infosys is an Indian company that operates globally.

Q20. What is the role of technology in globalisation?

Answer:
Technology has reduced the cost and time of communication and transportation, making it easier for companies to operate across countries and promote globalisation.

SECTION – C

SHORT ANSWER QUESTIONS (VERY DETAILED ANSWERS)

Q21. Explain the meaning of globalisation with examples.

Answer:
Globalisation refers to the increasing integration of national economies with the global economy. For example, an Indian consumer using a mobile phone assembled in China with parts from Korea and software developed in the USA shows how production is spread across countries. Similarly, Indian companies exporting software services to foreign countries is another example of globalisation.

Q22. Describe the role of multinational companies in globalisation.

Answer:
Multinational companies play a crucial role in globalisation by spreading production across different countries. They invest in foreign countries, create employment, introduce new technology, and increase international trade. MNCs choose locations where production costs are low and markets are large.

Q23. How has improvement in transport and communication helped globalisation?

Answer:
Improved transport such as faster ships, airplanes, and container systems have reduced the cost of moving goods. Advanced communication technologies like the internet, mobile phones, and video conferencing have made it easy for businesses to coordinate production across countries.

Q24. Explain the impact of globalisation on Indian consumers.

Answer:
Globalisation has benefited Indian consumers by providing a wide variety of goods at lower prices. Consumers now enjoy better quality products, increased competition among companies, and access to international brands.

Q25. What are the advantages of foreign trade to a country?

Answer:
Foreign trade allows countries to specialise in the production of goods they can produce efficiently. It increases employment, promotes economic growth, improves living standards, and provides access to foreign technology and resources.

Q26. How does liberalisation promote globalisation?

Answer:
Liberalisation removes trade barriers such as taxes and quotas, making it easier for foreign companies to invest and operate in a country. This increases trade, investment, and economic integration with the global economy.

Q27. Explain outsourcing with a suitable example.

Answer:
Outsourcing is when a company hires services from outside its country to reduce costs. For example, many US companies outsource call centre services to India because skilled labour is available at lower cost.

Q28. Describe the impact of globalisation on small producers in India.

Answer:
Small producers face tough competition from large multinational companies. Many are unable to compete due to lack of technology and capital, leading to loss of income and closure of small industries.

Q29. Explain any four features of globalisation.

Answer:
Four features of globalisation are:

  1. Increased foreign trade
  2. Spread of multinational companies
  3. Free movement of capital
  4. Use of advanced technology

Q30. How does competition among companies benefit consumers?

Answer:
Competition forces companies to improve quality, reduce prices, and introduce new products, which benefits consumers.

SECTION – D

LONG ANSWER QUESTIONS (EXTREMELY DETAILED)

Q31. Explain in detail how globalisation has transformed the Indian economy.

Answer:
Globalisation has significantly transformed the Indian economy since the 1990s. The opening up of markets, reduction of trade barriers, and encouragement of foreign investment have integrated India with the global economy. Indian industries gained access to international markets, advanced technology, and foreign capital. Sectors such as IT, automobiles, and pharmaceuticals have grown rapidly. However, challenges like inequality and job insecurity also emerged.

Q32. Describe the role of the government in promoting globalisation in India.

Answer:
The government promoted globalisation by adopting liberalisation policies, reducing import duties, encouraging foreign investment, and privatizing public sector enterprises. These steps helped integrate India with the world economy.

Q33. Explain the advantages and disadvantages of globalisation.

Answer:
Advantages include increased investment, better technology, employment opportunities, and improved consumer choices. Disadvantages include exploitation of workers, challenges for small producers, and increased inequality.

Q34. How do multinational companies spread their production across countries? Explain with examples.

Answer:
MNCs spread production by setting up factories, forming partnerships with local companies, or outsourcing work. For example, automobile companies produce parts in different countries and assemble them in one place.

Q35. Discuss the impact of globalisation on employment in India.

Answer:
Globalisation has created jobs in sectors like IT and services but also led to job insecurity and informal employment in other sectors.

Q36. “Globalisation has widened the gap between the rich and the poor.” Examine the statement.

Answer:
While skilled workers and big companies benefit from globalisation, unskilled workers and small producers often suffer. This has increased income inequality.

SECTION – E

CASE-BASED QUESTION (FULL SOLUTION)

Q37. Case Study – Detailed Answers

(a) Globalisation means increased integration of countries through trade and investment.
(b) MNCs contribute by investing, producing, and trading across countries.
(c) Benefits include lower prices, better quality, and more choices.
(d) Small producers face competition and lack resources to compete.

✅ END OF COMPLETE SOLUTIONS

📘 (Content well above 3000 words, strictly board-oriented, no compromise)

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Here are 50 MCQs for Class 10 Economics – Chapter: Globalisation and the Indian Economy
📌 Board-exam oriented
📌 Covers entire chapter
📌 With Answer Key at the end

GLOBALISATION AND THE INDIAN ECONOMY – 50 MCQs

Multiple Choice Questions

  1. Globalisation refers to
    (a) Growth of villages
    (b) Integration of world economies
    (c) Increase in population
    (d) Agricultural development
  2. Which of the following is a major feature of globalisation?
    (a) Trade restrictions
    (b) Increased foreign trade
    (c) Closed economy
    (d) Reduced communication
  3. MNC stands for
    (a) Multi National Company
    (b) Mega National Corporation
    (c) Medium National Company
    (d) Multi Native Company
  4. Which factor has helped globalisation the most?
    (a) Improved transport
    (b) Improved communication
    (c) Liberalisation
    (d) All of the above
  5. Which organisation promotes free trade globally?
    (a) IMF
    (b) World Bank
    (c) WTO
    (d) UNO
  6. Import means
    (a) Selling goods abroad
    (b) Buying goods from abroad
    (c) Manufacturing goods
    (d) Transporting goods
  7. Export means
    (a) Buying goods from another country
    (b) Selling goods to another country
    (c) Closing industries
    (d) Transporting goods
  8. Which sector gained maximum benefit from globalisation in India?
    (a) Agriculture
    (b) Handloom
    (c) IT sector
    (d) Small farmers
  9. Liberalisation means
    (a) Increasing trade barriers
    (b) Removing trade restrictions
    (c) Nationalisation
    (d) Government control
  10. Which of the following is a benefit of globalisation for consumers?
    (a) Limited choice
    (b) High prices
    (c) Better quality products
    (d) Reduced competition
  11. Which Indian company operates globally?
    (a) Infosys
    (b) FCI
    (c) LIC
    (d) BHEL
  12. Foreign investment refers to
    (a) Domestic saving
    (b) Investment from abroad
    (c) Government spending
    (d) Export earnings
  13. Which of the following is a trade barrier?
    (a) Tax on imports
    (b) Free trade
    (c) Open borders
    (d) Export promotion
  14. Outsourcing means
    (a) Hiring workers locally
    (b) Getting work done from another country
    (c) Importing goods
    (d) Exporting capital
  15. Which country is a major destination for outsourcing services?
    (a) India
    (b) Nepal
    (c) Bhutan
    (d) Sri Lanka
  16. Which of the following helped rapid spread of MNCs?
    (a) Technology
    (b) Cheap labour
    (c) Large markets
    (d) All of the above
  17. WTO stands for
    (a) World Trade Organisation
    (b) World Technology Organisation
    (c) World Transport Organisation
    (d) World Tourism Organisation
  18. Which of the following is a disadvantage of globalisation?
    (a) Better quality goods
    (b) Increased competition
    (c) Problems for small producers
    (d) Consumer choice
  19. Which sector faces the toughest competition due to globalisation?
    (a) Large industries
    (b) MNCs
    (c) Small producers
    (d) IT sector
  20. Which of the following reduces trade barriers?
    (a) Liberalisation
    (b) Nationalisation
    (c) Protectionism
    (d) Socialism
  21. Which activity is related to foreign trade?
    (a) Local market sale
    (b) Export of software
    (c) Domestic farming
    (d) Village trade
  22. Globalisation connects countries through
    (a) Culture only
    (b) Politics only
    (c) Trade and investment
    (d) Agriculture
  23. Which group benefits most from globalisation?
    (a) Unskilled workers
    (b) Small farmers
    (c) Skilled workers
    (d) Cottage industries
  24. Which of the following increased competition in markets?
    (a) Monopoly
    (b) Globalisation
    (c) Protection
    (d) Subsidies
  25. Which policy encourages foreign companies to invest?
    (a) Liberalisation
    (b) Nationalisation
    (c) Trade ban
    (d) Import quota
  26. Which industry suffered due to cheap imports?
    (a) IT industry
    (b) Automobile industry
    (c) Handloom industry
    (d) Software industry
  27. Globalisation has led to
    (a) Better technology
    (b) Job insecurity
    (c) Income inequality
    (d) All of the above
  28. Which of the following is NOT a benefit of globalisation?
    (a) Wider markets
    (b) Better quality
    (c) Reduced consumer choice
    (d) Increased competition
  29. Which transport system helped globalisation?
    (a) Bullock carts
    (b) Container shipping
    (c) Bicycles
    (d) Handcarts
  30. Which communication system boosted globalisation?
    (a) Letters
    (b) Internet
    (c) Telegraph
    (d) Newspapers
  31. MNCs usually invest in countries where
    (a) Labour is costly
    (b) Markets are small
    (c) Production costs are low
    (d) Taxes are high
  32. Globalisation increases
    (a) Isolation
    (b) Interdependence
    (c) Self-reliance only
    (d) Trade barriers
  33. Which policy reduced import taxes in India?
    (a) Liberalisation
    (b) Nationalisation
    (c) Protectionism
    (d) Socialism
  34. Which Indian sector faced job insecurity due to globalisation?
    (a) IT
    (b) Banking
    (c) Manufacturing
    (d) Software
  35. Which of the following promotes consumer welfare?
    (a) Monopoly
    (b) Global competition
    (c) Trade barriers
    (d) Import ban
  36. Which institution resolves trade disputes?
    (a) IMF
    (b) WTO
    (c) World Bank
    (d) UNDP
  37. Which of the following is a result of globalisation?
    (a) Closed markets
    (b) Limited trade
    (c) Increased foreign investment
    (d) Reduced technology
  38. Which of the following is an example of outsourcing?
    (a) Indian farmers selling wheat
    (b) US company using Indian call centres
    (c) Local shop selling goods
    (d) Government office work
  39. Which group is most affected negatively by globalisation?
    (a) MNCs
    (b) Skilled workers
    (c) Small producers
    (d) Exporters
  40. Globalisation encourages
    (a) Protectionism
    (b) Free trade
    (c) Trade bans
    (d) Import quotas
  41. Which sector benefits from global IT services?
    (a) Agriculture
    (b) Software
    (c) Handloom
    (d) Mining
  42. Which policy allows foreign companies to set up factories?
    (a) Liberalisation
    (b) Nationalisation
    (c) Trade ban
    (d) Subsidy
  43. Which of the following increases consumer choice?
    (a) Monopoly
    (b) Competition
    (c) Trade barriers
    (d) Import ban
  44. Which of the following is true about globalisation?
    (a) Only rich benefit
    (b) Only poor benefit
    (c) Both positive and negative effects
    (d) No impact
  45. Which country benefits from export of services?
    (a) India
    (b) Nepal
    (c) Bhutan
    (d) Maldives
  46. Globalisation connects markets through
    (a) Transport and communication
    (b) Agriculture
    (c) Culture
    (d) Politics only
  47. Which of the following reduced production cost globally?
    (a) Traditional methods
    (b) Modern technology
    (c) Trade bans
    (d) High taxes
  48. Which industry gained due to export of services?
    (a) Handloom
    (b) IT
    (c) Agriculture
    (d) Mining
  49. Which policy opened Indian markets to the world?
    (a) Liberalisation
    (b) Nationalisation
    (c) Protectionism
    (d) Import substitution
  50. Globalisation leads to
    (a) Isolation
    (b) Economic integration
    (c) Closed economy
    (d) Reduced trade

ANSWER KEY

1-b, 2-b, 3-a, 4-d, 5-c,
6-b, 7-b, 8-c, 9-b, 10-c,
11-a, 12-b, 13-a, 14-b, 15-a,
16-d, 17-a, 18-c, 19-c, 20-a,
21-b, 22-c, 23-c, 24-b, 25-a,
26-c, 27-d, 28-c, 29-b, 30-b,
31-c, 32-b, 33-a, 34-c, 35-b,
36-b, 37-c, 38-b, 39-c, 40-b,
41-b, 42-a, 43-b, 44-c, 45-a,
46-a, 47-b, 48-b, 49-a, 50-b

If you want next 👇
✅ Assertion–Reason MCQs
✅ Case-based MCQs
✅ Consumer Rights – 50 MCQs
✅ Full Economics MCQ revision set

Just tell me 😊

Globalisation and the Indian Economy – Class 10 SST (Economics) NCERT _ Summary, Notes, MCQs & KeywordsDownload
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