Liberalisation, Privatisation Globalisation: An Appraisal MCQ Class 12 Economics Cha 3

Liberalisation, Privatisation and Globalisation: An Appraisal MCQ Questions for Class 12 Micro Economics Chapter 3 with Answers

We have compiled the NCERT/CBSE chapter-wise Multiple Choice Class 12 Economics Chapter 3 Liberalisation, Privatisation and Globalisation: An Appraisal with Answers by expert subject teacher for latest syllabus and examination. Prepare effectively for the exam taking the help of the Class 12 Economics Objective Questions PDF free of cost from here. Students also can take a free test of the Multiple Choice Questions of Liberalisation, Privatisation and Globalisation: An Appraisal. Each question has four options followed by the right answer. Download the Economics Quiz Questions with Answers for Class 12 Pdf and prepare to help students understand the concept very well.

MCQ Questions for Class 12 Microeconomics with Answers: Indian Economic Development


Question 1.

Make in India programme was launched in

(i) 1991
(ii) 2014
(iii) 2015
(iv) 2016

(ii) 2014


Question 2.

In which year did India adopt the economic reforms?

(i) 1991
(ii) 1993
(iii) 1998
(iv) 2001

(i) 1991


Question 3.

Which of the following replaced MRTP Act?

(i) Competition Act
(ii) Foreign Exchange Management Act
(iii) New Companies Act
(iv) None of these

(i) Competition Act


Question 4.

When did the Gulf Crisis take place?

(i) 1985
(ii) 1990-91
(iii) 1995
(iv) 1975

(ii) 1990-91


Question 5.

At present how many industries are exclusively reserved for the public sector in India?

(i) Two
(ii) Three
(iii) Four
(iv) Five

(ii) Three


Question 6.

What is the main feature of New Economic Policy?

(i) Liberalisation
(ii) Privatisation
(iii) Globalisation
(iv) All of the above

(iv) All of the above


Question 7.

GST has been implemented from

(i) April 1, 2018
(ii) January 1, 2018
(iii) January 1, 2017
(iv) July 1, 2017

(iv) July 1, 2017


Question 8.

How many industries are entirely reserved for the public sector?

(i) 6
(ii) 10
(iii) 2
(iv) 4

(iii) 2


Question 9.

How much loan was provided by World Bank and IMF during the nineties to bail India out of the crisis?

(i) $10 million
(ii) $10 billion
(iii) $7 billion
(iv) $20 billion

(iii) $7 billion


Question 10.

When was VAT introduced in most of the States of India?

(i) 1995
(ii) 2001
(iii) 2005
(iv) 2006

(iii) 2005


Question 11.

For how many industries, licensing is still necessary?

(i) 7
(ii) 6
(iii) 9
(iv) 10

(ii) 6


Question 12.

When was WTO established?

(i) 1996
(ii) 1998
(iii) 2000
(iv) 1995

(iv) 1995


Question 13.

What is the investment limit in small scale industries?

(i) 50 lakh
(ii) 1 crore
(iii) 25 lakh
(iv) 75 crore

(ii) 1 crore


Question 14.

Where is the headquarters of WTO located?

(i) Italy
(ii) Geneva
(iii) New York
(iv) Washington

(ii) Geneva


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