Economic Liberalization and Globalization — Practice Quiz
Gujarat Board · Class 10 · Social Science
Try a 4-question quiz on Economic Liberalization and Globalization for Gujarat Board Class 10 Social Science: tap an answer to check it and see why.
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Quick Quiz: Economic Liberalization and Globalization
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In which year did India introduce economic reforms including Liberalization, Privatization and Globalization?
What does economic liberalization mean?
Privatization means transferring ownership from which sector to which sector?
What is globalization?
Sample Questions
Which of the following are advantages of liberalization? (Select all correct answers)
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Increase in production, Increase in global trade, Increase in foreign exchange reserves, Improvement in internal infrastructure
Liberalization led to increased production as private sector got opportunities for unconstrained development, boosted global trade, increased foreign exchange reserves, and improved internal infrastructural facilities.
When was the World Trade Organization (WTO) established?
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1st January, 1995
The World Trade Organization was established on 1st January, 1995 by the member Nations of United Nations with its headquarters located in Geneva, Switzerland.
Where is the headquarters of World Trade Organization (WTO) located?
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Geneva
The headquarters of the World Trade Organization is located in Geneva, Switzerland. This is where the main operations and decision-making of WTO takes place.
Which of the following are objectives of WTO? (Select all correct answers)
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Remove obstacles in global trading, Remove protection policy for industries, Coordinate global trade and economic policy, Solve trade-related disputes
WTO aims to remove trading obstacles, eliminate protectionist policies, coordinate global trade policies, and resolve trade disputes to promote free and fair international trade.
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