Students of class 10 Social Science should refer to MCQ Questions Class 10 Social Science Globalization and The Indian Economy with answers provided here which is an important chapter in Class 10 Social Science NCERT textbook. These MCQ for Class 10 Social Science with Answers have been prepared based on the latest CBSE and NCERT syllabus and examination guidelines for Class 10 Social Science. The following MCQs can help you to practice and get better marks in the upcoming class 10 Social Science examination

Chapter 4 Globalization and The Indian Economy MCQ with Answers Class 10 Social Science

MCQ Questions Class 10 Social Science Globalization and The Indian Economy provided below have been prepared by expert teachers of grade 10. These objective questions with solutions are expected to come in the upcoming Standard 10 examinations. Learn the below provided MCQ questions to get better marks in examinations.

Question. WTO was started at the initiative of which one of the following group of company?
(a) Rich countries
(b) Poor countries
(c) Developed countries
(d) Developing countries

Question. Which one of the following is not characteristic of ‘Special Economic Zone’?
(a) They do not have to pay taxes for long period.
(b) Government has allowed flexibility in labour laws.
(c) They have world class facilities.
(d) They do not have to pay taxes for an initial period of five years.

Question. Which one of the following type of countries has been more benefited from globalization?
(a) Rich countries
(b) Poor countries
(c) Developing countries
(d) Developed countries

Question. Investment made by the MNCs is termed as:
(a) Indigenous investment
(b) Foreign investment
(c) Entrepreneur’s investment
(d) None of the above

Question. Which one of the following is an example of trade barrier?
(a) Tax on exports
(b) Tax on imports
(c) Free trade
(d) Restrictions on export

Question. Globalization does NOT involve which one of the following? (Delhi 2011)
(a) Rapid integration between countries
(b) More goods and services moving between countries
(c) Increased taxes on imports
(d) Movement of people between countries for jobs, education etc.

Question. Liberalization involves which of the following? (Foreign 2011)
(a) Removal of trade barriers
(b) Increasing subsidy on fertilizers
(c) Increasing import duties on goods
(d) Increasing export duties on goods

Question. the most common route for investments by MNCs in countries around the world is to
(a) Set up new factories
(b) Buy existing local companies
(c) Form partnership with local companies

Question. Globalization, by connecting countries, shall result in
(a) Lesser competition among producers
(b) Greater competition among producers
(c) No change in competition among producers
(d) Additional Questions

Question. Investment made by MNCs is called
(a) Mutual investment
(b) Inter-government investment
(c) Portfolio investment
(d) Foreign investment

Question. Cargill foods, a very large American MNC, has bought over smaller Indian companies such as
(a) Parikh foods
(b) Amul
(c) Britannia
(d) None of the above

Question. Examples of industries where production is carried out by a large number of small producers around the world.
(a) Garments
(b) Footwear
(c) Sport items
(d) All of them

Question. Effects of Chinese toys on Indian toy maker is:
(a) No effect
(b) Making profit
(c) Suffering losses
(d) None of them

Question. Post 50 years have seen several improvements in
(a) Transportation technology
(b) Information technology
(c) Communication technology
(d) All of them

Question. Removing barriers or restrictions set by the government known as
(a) Privatization
(b) Liberalization
(c) Globalization
(d) Socialization

Question. __________ is one such organization whose aim is to liberalize international trade
(a) UNICEF
(b) World bank
(c) WTO
(d) IDBI

Question. Companies who set up production units in the special economic zones (SEZs) do not have to pay taxes for an initial period of
(a) 2 years
(b) 5 years
(c) 4 years
(d) 10 years

Question. Number of workers that small industries in India employ
(a) 18 million
(b) 19 million
(c) 20 million
(d) 21 million

Question. To achieve the goal of fair globalization, major role can be plays by
(i) People
(ii) Government
(iii) MNCs
(iv) None of the above
(a) (i) and (iii)
(b) (ii) and (iv)
(c) (i) and (ii)
(d) (iii) and (iv)

Question. Allowing private sector to set up more and more of such industries as were previously reserved for public sector.
(a) Globalization
(b) Privatization
(c) Liberalization
(d) Socialization

Question. __________ in the labour laws can attract foreign investment.
(a) Stagnancy
(b) Flexibility
(c) Stringency
(d) none

Question. What is the term ‘investment’ mean?
(a) Money spent on buying clothes
(b) Money spent on buying land, building, machines, etc.
(c) Money spent on buying a car
(d) Money spent on buying furniture

Question. Why did the government decide to remove barriers on foreign trade and foreign competitors ?
(a) Because the government wanted to earn the foreign exchange.
(b) Because the government felt that the time had come for Indian producers to compete with producers in the world market.
(c) Because the government wanted to maintain good relations with other countries.
(d) All of the above.

Question. How many countries are currently the members of the World Trade Organisations ?
(a) 140 countries
(b) 145 countries
(c) 159 countries
(d) 149 countries

Question. What was the idea behind developing Special Economic Zones (SEZs) in India?
(a) To attract foreign companies to invest in India
(b) To earn foreign exchange
(c) To make India financially stable
(d) To make India a developed country

Question. What is the full form of WTO?
(a) World Transactions Organisation
(b) Wealth Trade Organisation
(c) World Trade Organisation
(d) None of the above

Question. Which one of the following is not an MNC?
(a) Reebok Shoes
(b) Tata Motors
(c) SAIL
(d) Infosys

Question. What are the investments made by MNCs called?
(a) Foreign investments
(b) International investments
(c) Multi National investments
(d) None of these

Question. Which of the following is an example of Trade Barrier?
(a) Tax on Imports
(b) Custom Duty
(c) Transit Permits
(d) All of the above

Question. Which organisation supports liberalisation of foreign trade and investments in India?
(a) International Labour Organisation (ILO)
(b) World Bank
(c) World Trade Organisation (WTO)
(d) International Monetary Fund (IMF)

Question. WTO is dominated by countries like …….
(a) U.S. and U.K.
(b) China and France
(c) India and Japan
(d) Ireland and Germany

Question. A company that owns or controls production in more than one nation is called ………
(a) Foreign company
(b) Multi National Company
(c) International company
(d) Local company

Question. It creates an opportunity for the producers to reach beyond the domestic markets. What does it refer to?
(a) Technology
(b) Investments
(c) Trade barriers
(d) Globalisation

Question. Ranbaxy is a multinational company which is associated with ……..
(a) automobiles
(b) nuts and bolts
(c) medicines
(d) information technology

Question. An MNC is a company that owns or controls production in
(a) one country
(b) more than one country
(c) only developing countries
(d) only developed countries

Question. What was the main channel connecting countries in the past ?
(a) Labour
(b) Religion
(c) Technology
(d) Trade

Question. ‘The impact of Globalisation has not been fair.’ Who among the following people have not benefitted from globalisation?
(a) Well off consumers
(b) Small producers and workers
(c) Skilled and educated producers
(d) Large wealthy producers

Question. “MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below
(a) Availability of cheap skilled and unskilled labour
(b) Proximity to markets
(c) Presence of a large number of local competitors
(d) Favourable government policies

Question. In which year did the government decide to remove barriers on foreign trade and investment in India?
(a) 1993
(b) 1992
(c) 1991
(d) 1990

Question. The past two decades of globalisation has seen rapid movements in
(a) goods, services and people between countries.
(b) goods, services and investments between countries.
(c) goods, investments and people between countries.

Question. The international organisation formed for the liberalisation of trade is …….
(a) World Trade Organisation
(b) United Nations Organisation
(c) World Trade Centre
(d) Multi-national Corporation

Question. The most important factor that has stimulated globalisation is ………
(a) population explosion
(b) spread of education
(c) urbanisation
(d) rapid improvement in technology

Question. The most common route for investments by MNCs in countries around the world is to
(a) set up new factories.
(b) buy existing local companies.
(c) form partnerships with local companies.

We hope the above multiple choice questions for Class 10 Social Science for Chapter 4 Globalization and The Indian Economy provided above with answers based on the latest syllabus and examination guidelines issued by CBSE, NCERT and KVS are really useful for you. Globalization and The Indian Economy is an important chapter in Class 10 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 10 students. Please go through these and let us know if you have any feedback in the comments section.