Please refer to Chapter 3 Liberalisation Privatisation and Globalisation An Appraisal MCQ Class 11 Economics with answers below. These multiple-choice questions have been prepared based on the latest NCERT book for Class 11 Economics. Students should refer to MCQ Questions for Class 11 Economics with Answers to score more marks in Grade 11 Economics exams. Students should read the chapter Liberalisation Privatisation and Globalisation An Appraisal and then attempt the following objective questions.

MCQ Questions Class 11 Economics Chapter 3 Liberalisation Privatisation and Globalisation An Appraisal

The Liberalisation Privatisation and Globalisation An Appraisal MCQ Class 11 Economics provided below covers all important topics given in this chapter. These MCQs will help you to properly prepare for exams.

Question. __________ refers to the transfer of assets or service functions form public to private ownership.
a) Globalisation
b) Privatisation
c) Liberalisation
d) All of the above

Question. International Bank for Reconstruction And Development (IRBD) is popularly known as:
a) World bank
b) Bank of Tokyo
c) American express
d) HSBC bank

Question. WTO was established in the year
a) 1995
b) 1948
c) 1996
d) 1994

Question. The government has made efforts to improve the efficiency of PSU’s by giving them______ in taking managerial decisions.
a) Money
b) Financial assistance
c) Autonomy
d) none of the above

Question. Which of the following is not a feature of Privatisation:
a) Contraction of public sector
b) Policy of disinvestment
c) policy of memorandum of understanding
d) Tax rates have been reduced

Question. Fiscal policy of the government refers to:
(a) Taxation policy
(b) Government expenditure policy
(c) Both (a) and (b)
(d) Neither (a) nor (b)

Question. India has become one of the favorable destinations for outsourcing because of this reason:
a) High wage rates
b) Availability of skilled manpower and accuracy
c) Low taxes
d) All of these

Question. What was the one major proposal of new industrial policy (1991)?
a) NRI’s will not be allowed for capital investment in India
b) Facility of FDI upto 51 percent in high priority industries
c) Import restrictions on technical knowhow for one year
d) Abolition licensing export for six industries

Question. Financial sector reforms mainly relate to:
a) Banking sector
b) Foreign exchange market
c) Both (a) and (b)
d) Insurance sector

Question. In 1991, India met with an economic crisis relating to its:
a) External debt
b) Internal debt
c) stock exchange
d) none of the above

Question. Quantitative restrictions on imports of manufactured consumer goods and agricultural products were also fully removed from
a) 1980
b) 1991
c) 2001
d) 1995

Question. Under GST, which is not a tax slab
a) 5%
b) 12%
c) 20%
d) 28%

Question. Aim of demonetization not included was
a) Form a less-cash or cash-lite economy
b) Check on tax evasion
c) Reduce the money supply
d) Adding savings into the formal financial system

Question. Economic reforms in India was started on 24th July:
a) 1992
b) 1993
c) 1991
d) 1990

Question. Though the GDP growth rate has increased in the reform period,
a) Employment rate has rise
b) Employment rate has fallen
c) Employment rate remains same
d) Reemployment rate has fluctuates

Question. Reforms have not been able to benefit agriculture because of
a) Public investment in agriculture sector especially in infrastructure has fallen
b) Rise in subsidy
c) Rise in import duties on agricultural products
d) Shift from production of cash crops to food crops

Question. The opening up of the Indian Economy has led to
a) Fall in foreign exchange and rise in FDI
b) Rise in foreign exchange and fall in FDI
c) Rise in foreign exchange and rise in FDI
d) Fall in foreign exchange and Fall i in FDI

Question. During the reform period
a) Agriculture has declined, industrial sector reported fluctuation, and service sector has gone up.
b) Agriculture has gone up., industrial sector reported fluctuation, and service sector has declined
c) Agriculture has declined, industrial sector reported gone up, and service sector reported fluctuation
d) Agriculture sector reported fluctuation, industrial sector gone down, and service sector has gone up.

Question. Stabilization measures were intended to
a) Improving the efficiency of the economy
b) Increasing its international competitiveness
c) Both (a) and (b)
d) Maintain sufficient foreign exchange

Question. The most urgent problem which promoted the introduction of New Economic Policy in 1991 Was:
(a) Bad performance of public sector units.
(b) Foreign exchange crises.
(c) High tax rates leading to tax evasion.
(d) Both A and B

Question. India is seen as a successful exporter of:
a) Auto parts
b) Engineering goods
c) IT software and textiles
d) All of these

Question. Factors that adversely affected Indian farmers are:
a) Removal of MSP and subsidy
b) Lifting of quantitative restrictions
c) Reduction in import duties
d) All of these

Question. Cheaper imported goods was one of the reasons behind:
a) Growing unemployment
b) Unbalanced Growth
c) Low level of industrial growth
d) Spread of consumerism

Question. Rate of which tax was reduced as per the tax reform:
a) Gift tax
b) Corporation tax
c) Income tax
d) Both (b) and (c)

Question. Which of the following industries are reserved for the public sector?
a) Cement
b) Defense equipment
c) Atomic energy generation
d) both (b) and (c)

Question. Import Licensing was abolished except in case of :
a) Hazardous items
b) Environmentally sensitive industries
c) both (a) and (b)
d) none

Question. The process of privatization is where:
a) A company is transferred to a non-profit organization
b) Services that were previously supplies are outsourced
c) A few public sector enterprises are sold to private sector
d) A state industry merges with or takes over a private or publicity owned company

Question. ______means integrating the domestic economy with the world economy.
a) Globalisation
b) Liberalization
c) Privatisation
d) Demonetisation

Question. IMF stands for:
a) International Monetary Foundation
b) Internal Monetary Fund
c) International Monetary Fund
d) International Money Foundation

Question. Government taxation and expenditure policy is known as
a) Trade policy
b) Monetary policy
c) Fiscal policy
d) Taxation policy

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