MCQ Questions for Class 12 Economics Chapter 3 Liberalisation, Privatisation and Globalisation: An Appraisal with Answers

Check the below NCERT MCQ Questions for Class 12 Economics Chapter 3 Liberalisation, Privatisation and Globalisation: An Appraisal with Answers Pdf free download. MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. We have provided Liberalisation, Privatisation and Globalisation: An Appraisal Class 12 Economics MCQs Questions with Answers to help students understand the concept very well.


Q1. In which year did India adopt the economic reforms?

(A) 1991
(B) 1993
(C) 1998
(D) 2001

(A) 1991


Q2. Why there was a need for economic reforms in India?

(A) Due to fiscal deficit
(B) Due to adverse BOP
(C) Rise in prices
(D) All of the above

(D) All of the above


Q3. When did the Gulf Crisis take place?

(A) 1985
(B) 1990-91
(C) 1995
(D) 1975

(B) 1990-91


Q4. How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?

(A) $10 million
(B) $10 billion
(C) $7 billion
(D) $20 billion

(C) $7 billion


Q5. What is the main feature of New Economic Policy?

(A) Liberalisation
(B) Privatisation
(C) Globalisation
(D) All of the above

(D) All of the above


Q6. For how many industries, licensing is still necessary?

(A) 7
(B) 6
(C) 9
(D) 10

(B) 6


Q7. How many industries are entirely reserved for the public sector?

(A) 6
(B) 10
(C) 2
(D) 4

(C) 2


Q8. What is the investment limit in small scale industries?

(A) 50 lakh
(B) 1 crore
(C) 25 lakh
(D) 75 crore

(B) 1 crore


Q9. When was VAT introduced in most of the States of India?

(A) 1995
(B) 2001
(C) 2005
(D) 2006

(C) 2005


Q10. How many countries are the members of WTO?

(A) 164
(B) 120
(C) 96
(D) 48

(A) 164


Q11. When was WTO established?

(A) 1996
(B) 1998
(C) 2000
(D) 1995

(D) 1995


Q12. Where is the headquarters of WTO located?

(A) Italy
(B) Geneva
(C) New York
(D) Washington

(B) Geneva


Q13. India met with an economic crisis in 1991 as it failed to repay its —- from abroad.

borrowings


Q14. —- is the excess of expenditure (borrowings) over income.

Deficit


Q15. To overcome the crisis, India approached IMF and World Bank for—-

loan


Q16. Economic reforms refer to all those measures that aim at rendering the economy more efficient, competitive and—–

developed


Q17. Fiscal policy refers to the revenue and expenditure policy of the government to achieve —- development in the economy.

balanced


Q18. Financial sectors were allowed to take decisions on various matters, without consulting—-

RBI


Q19. Trade policy reforms led to the removal of export duties to _____India’s competitive position.

increase


Q20. India has become an important destination for global ____ since the reforms.

outsourcing


Q21. Trade between two countries is called ____ trade.

bilateral


Q22. The industrial sector has experienced___ _ in growth pattern.

fluctuations


Class 12 Macroeconomics MCQ with Answers: Introductory Macroeconomics

Chapter 1: Introduction to Macroeconomics
Chapter 2: National Income Accounting
Chapter 3: Money and Banking
Chapter 4: Determination of Income and Employment
Chapter 5: Government Budget and the Economy
Chapter 6: Open Economy Macroeconomics

Class 12 Economics Indian Economic Development MCQ with Answers

Chapter 1: Indian Economy on the Eve of Independence
Chapter 2: Indian Economy 1950-1990
Chapter 3: Liberalisation, Privatisation and Globalisation: An Appraisal
Chapter 4: Poverty
Chapter 5: Human Capital Formation in India
Chapter 6: Rural Development
Chapter 7: Employment: Growth, Informalisation and Other Issues
Chapter 8: Infrastructure
Chapter 9: Environment and Sustainable Development
Chapter 10: Comparative Development Experiences of India and its Neighbours

Unit 6: Development Experience (1947-90) and Economic Reforms Since 1991
Unit 7: Current Challenges Facing Indian Economy
Unit 8: Development Experience of India: A Comparison with Neighbours

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