Students of class 11 Economics should refer to MCQ Questions Class 11 Economics Liberalisation Privatisation and Globalisation An Appraisal with answers provided here which is an important chapter in Class 11 Economics NCERT textbook. These MCQ for Class 11 Economics with Answers have been prepared based on the latest CBSE and NCERT syllabus and examination guidelines for Class 11 Economics. The following MCQs can help you to practice and get better marks in the upcoming class 11 Economics examination

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

MCQ Questions Class 11 Economics Liberalisation Privatisation and Globalisation An Appraisal provided below have been prepared by expert teachers of grade 11. These objective questions with solutions are expected to come in the upcoming Standard 11 examinations. Learn the below provided MCQ questions to get better marks in examinations.

Question. Which is the latest tax introduced by the government of India?
a) Goods and services tax
b) Value added tax
c) Service tax
d) Corporation tax

Question. GST was not introduced for the following purpose
a) Generate additional revenue for the government,
b) Reduce tax evasion
c) To increase direct taxes
d) Create ‘one nation, one tax and one market

Question. India approached which international monetary institution during crisis?
a) IBRD
b) IMF
c) World Bank
d) all of the above

Question. Stabilization measures were intended to correct:
a) Balance of payment problem
b) Inflationary situations
c) depleting foreign exchange reserves
d) all of these

Question. Which of the policy is not initiated under the new economic policy?
a) Liberalization
b) Privatisation
c) Globalisation
d) Urbanization

Question. Taxes imposed on incomes of individuals are :
a) Indirect taxes
b) Tariff barriers
c) Direct taxes
d) All of these

Question. BPO means ___________.
a) Business policy outsource
b) Business process organisation
c) Business process outsourcing
d) None of the above

Question. GATT was established in the year:
a) 1958
b) 1948
c) 1968
d) 1995

Question. Which of the following is not a component of fiscal reforms?
a) Taxation reforms
b) Public expenditure reforms
c) Change in interest rate
d) Control of public debt

Question. ____________refers to relaxation of Government restrictions.
a) Privatisation
b) Globalisation
c) Disinvestment
d) Liberlisation

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

Question. Financial sector in India is regulated by
a) RBI
b) CENTRAL GOVT
c) SEBI
d) both (a) and (b)

Question. When expenditure is more than income, the government borrows to finance the ____from banks.
a) Surplus
b) Deficit
c) Credit
d) Debit

Question. Foreign exchange reforms was done by
a) Devaluating the Rupee against foreign currency
b) Introducing the fixed exchange rate system
c) Determination of the exchange rate by the market forces
d) Both (a) and (c)

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. Financial sector reforms does not include
a) Foreign investment limit in banks was raised to around 50 per cent
b) Foreign Institutional Investors (FII), allowed to invest in Indian financial markets
c) Reduce the role of RBI from regulator to facilitator
d) Removal of licensing procedures for imports

Question. Objectives of privatization are:
a) To improve the government’s financial position
b) To improve the performance of an enterprise
c) To reduce the burden on public administration
d) All the above

Question. Moderate rate of tax was implemented during reforms period to
a) Encourage savings
b) Voluntary disclosure of income.
c) Increasing in foreign exchange reserve
d) Both (a) and (b)

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. In 1991, India met with an economic crisis due to
a) Rise in foreign exchange reserves
b) Low inflation
c) Huge debts burden
d) Political instability

Question. Industry reserved for public sector:
a) Defense equipment
b) Atomic energy generation
c) Railway transport
d) All of these

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. 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. 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

We hope the above multiple choice questions for Class 11 Economics for Chapter 3 Liberalisation Privatisation and Globalisation An Appraisal provided above with answers based on the latest syllabus and examination guidelines issued by CBSE, NCERT and KVS are really useful for you. Liberalisation Privatisation and Globalisation An Appraisal is an important chapter in Class 11 as it provides very strong understanding about this topic. Students should go through the answers provided for the MCQs after they have themselves solved the questions. All MCQs have been provided with four options for the students to solve. These questions are really useful for benefit of class 11 students. Please go through these and let us know if you have any feedback in the comments section.