Economic Reforms — Practice Quiz
Gujarat Board · Class 11 · Economics
Try a 4-question quiz on Economic Reforms for Gujarat Board Class 11 Economics: tap an answer to check it and see why.
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Quick Quiz: Economic Reforms
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In which year did India introduce the LPG (Liberalization, Privatization, and Globalization) economic reforms?
What does liberalization mean in the context of economic reforms?
What does privatization mean?
FEMA replaced which act in India's economic reforms?
Sample Questions
Which of the following are components of India's economic reforms? (Select all correct answers)
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Liberalization, Privatization, Globalization
The three main components of India's economic reforms since 1991 are Liberalization, Privatization, and Globalization (LPG). Nationalization and socialization are opposite concepts.
What does FDI stand for?
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Foreign Direct Investment
FDI stands for Foreign Direct Investment, which involves foreign companies directly setting up business operations in India.
Which sectors are currently reserved exclusively for public sector investment in India?
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Atomic energy, Railways, Minerals related to atomic energy
After liberalization, only three areas remain reserved for public sector: atomic energy, minerals related to atomic energy, and railways. Banking and telecommunications have been opened to private sector.
Globalization involves increasing a country's integration with the world economy.
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True
True. Globalization is the process of increasing a country's economic integration with the rest of the world through increased trade, investment, and technology exchange.
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