Matching Type MCQs of Liberalisation Privatisation Globalisation (IED Class 12)
Looking for Matching Type MCQs of Liberalisation Privatisation Globalisation Chapter of Indian Economic Development (IED) Book of Class 12 CBSE, ISC, UPSC and state Boards.
We have compiled very important matching type Multiple choice Questions with answers of chapter 3 of the Indian Economic Development Book of Class 12.
Matching Type MCQs of Liberalisation Privatisation Globalisation chapter of Indian Economic Development class 12
Let’s Practice
From the set of statements given in Column I and Column II, choose the correct pair of statements.
In the pairing question, Just compare the correct pair, do not match.
| Column – I | Column II |
| A – Financial Sector reforms | i) Reduction in Taxes |
| B – Foreign Exchange Reforms | ii) Devaluation of Rupee |
| C – Industrial Sector Reforms | iii) Change in Role of RBI |
| D – Tax Reforms | iv) Removal of Export Duties |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – b)
Select the correct combination between the following Columns.
| Column – A | Column – B |
| A – Trade barriers | i) Reduction in the value of the domestic currency in comparison to foreign currencies as a result of market forces. |
| B – Devaluation | ii) Tariff and quota |
| C – Depreciation | iii) Selling part of the equity of PSEs to the public |
| D – Disinvestment | iv) Deliberate downward adjustment of domestic currency with respect to foreign currencies. |
Options
a) A -iii), B – i), C – iv), D – ii)
b) A – ii), B – i), C – iii), D – iv)
c) A – ii), B – iv), C – i), D – iii)
d) A – ii), B – iii), C – i), D – iv)
Ans – c)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Trade and Investment Policy Reforms | A – Reforms in Indirect Taxes |
| B – Removal of Quantitative restrictions on imports and exports |
Optoins
a) i) – A
b) i) – B
Ans – b)
Match the statements given under A with the correct options given under B.
| Column – I | Column – II |
| i) Liberalisation | A – Refers to integrating the National Economy with the World Economy. |
| ii) Globalisation | B – Refers to the removal of Entry and Growth restrictions on the Private Sector |
Options
a) i) – A, ii) – B
b) i) – B, ii) – A
Ans – b)
Select the correct combination between the following columns:
| Column – A | Column – B |
| A – Disinvestment | i) Trade between two countries |
| B – Minority Sale | ii) Trade between more than two countries |
| C – Bilateral trade | iii) To bring about financial discipline and modernization of PSUs |
| D – Multilateral trade | iv) Sale of 49% or less of the equity of PSUs |
Options
a) A -iv), B – iii), C – ii), D – i)
b) A – iii), B – iv), C – ii), D – i)
c) A – iii), B – iv), C – i), D – ii)
d) A – iv), B – iii), C – i), D – ii)
Ans – d)
Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I.
| Column – I | Column – II |
| A – Establishment of General Agreement of Trade and Tariff. | i) 2017 |
| B – Foundation of world Trade Organisatoin | ii) 2016 |
| C – Demonetisation by Indian Government | iii) 1948 |
| D – Goods and Services Tax Act came into effect. | iv) 1995 |
Options
a) A – i), B – iv), C – ii), D – iii)
b) A – ii), B – iv), C – iii), D – i)
c) A – iii), B – iv), C – i), D – ii)
d) A – iii), B – iv), C – ii), D – i)
Ans – d)
Select the correct combination between the following Columns.
| Column – A | Column – B |
| A – Bilateral trade | i) Make imports relatively costlier |
| B – Unilateral Trade | ii) Trade between two countries |
| C – Tariff barriers | iii) Barriers imposed on the quantity of imports and exports |
| D – Non-tariff barriers | iv) One-sided, non-reciprocal trade preferences often granted by developed countries |
Options
a) A – iv), B – ii), C – i), D – iii)
b) A – ii), B – iv), C – i), D – iii)
c) A – ii), B – iv), C – iii), D – i)
d) A – iv), B – ii), C – iii), D – i)
Ans – b)
Identify the correct pair from Column I and Column II and choose the correct alternative:
| Column – I | Column – II |
| A – New Economic Policy | i) It was initiated in 1990. |
| B – Goods and Services tax | ii) It was introduced in 2018. |
| C – Demonetisation | iii) Recently, it was done in 2016 |
| D – GATT | iv) It was established in 1950. |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – c)
Explanation:- New Economic Policy was introducted 1991, Goods and service tax was introduced in 2017, The GATT was established in 1947 and Demonetisation in India began on 8 November 2016.
Identify and match the correct sequence of alternatives of organizations are given in Column I with their respective functions in Column II:
| Column – I | Column – II |
| A – WTO | i) Provides short term loans to solve the Balance of Payments problem |
| B – RBI | ii) is a multilateral trade negotiating body. |
| C – IMF | iii) Facilitates lending for reconstruction and development |
| D – IBRD | iv) is the Central Bank of India |
Options
a) A – ii), B – i) C – iii), D – iv)
b) A – ii), B – iv), c – iii), D – i)
c) A – ii), B – iii), C – iv), D – i)
d) A – ii), B – iv), C – i), D – iii)
Ans – d)
Identify the correct sequence of alternatives given in Column II by Matching them with respective terms in Column I and, choose the correct alternative:
| Column – I | Column – II |
| A – Fiscal Policy | i) to administer multilateral agreements. |
| B – Direct taxes | ii) an important outcome of globalization. |
| C – Outsourcing | iii) Government’s taxation and public expenditure policy. |
| D – GATT was formed in 1948 | iv) Taxes and incomes of individuals. |
Options
a) A – iii), B – iv), C – ii), D – i)
b) A – iv), B – ii), C – iii), D – i)
c) A – i), B – iii), C – iv), D – ii)
d) A -iii), B – i), C – ii), D – iv)
Ans – a)
which of the given pair is incorrectly matched?
| Column – A | Column – B |
| A – Strategic sale | i) Sale of 51% or more equity of the PSUs |
| B – Minority Sale | ii) Sale of 49% or less equity of the PSUs |
| C – Quota | iii) Trade Promoter |
| D – Foreign Investment | iv) FDI + FII |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – c)
Identify the correct pair from Column I and Column II and choose the correct alternative:
| Column – I | Column – II |
| A – Privatisation | i) Removing trade barriers |
| B – Disinvestment | ii) Includes strategic and minority sale |
| C – Gloablisation | iii) It is an outcome of outsourcing |
| D – Outsourcing | iv) Get the work done by employees in the organisation itself. |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – b)
Identify the correct pair from Column I and Column II and choose the correct alternative:
| Column – I | Column – II |
| A – Indian Oil Corporation Limited | i) Navratnas |
| B – Mahanagar Telephone Nigam Limited | ii) Miniratnas |
| C – Airport Authority of India | iii) Maharatnas |
| D – Hindustan Aeronautics Limited | iv) Navratnas |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – d)
Explanation:- Indian Oil Corporation Limited is a Maharatna, Mahanagar Telephone Nigam Ltd is a Navratna, Airports Authority of India is a Miniratna, Hindustan Aeronautics Limited is a Navratnas.
