12th Standard CBSE - Economics - Liberalisation, Privatisation and Globalisation

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Question - 1

When was New Economic Policy announced?

  • A In july,1991
  • B In june, 1991
  • C In july, 1996
  • D In june, 1992

Question - 2

_____ means the excess of anticipated expenditures over estimated revenue.

  • A Surplus
  • B Deficit
  • C Loss
  • D Profit

Question - 3

Public sector not performed as much as it was expected under economic reforms due to

  • A lack of competition
  • B huge lossesof PSU
  • C managerial inefficiency
  • D All of the above

Question - 4

The origin of the financial crisis can be traced from the inefficient management of the Indian economy, which of the following reasons are responsible?

  • A Government did not able to generate sufficient revenue
  • B Government expenditure began to exceed its revenue
  • C Government borrowed money for meeting consumption needs
  • D All of the above

Question - 5

Which of the following polkies were taken under structural reform measures?
(i) Correcting BoP
(ii) Controlling inflation
(iii) Improving economic efficiency
(lv) Increasing international competitiveness
Choosefrom the options below:

  • A Both (i) and (ii)
  • B Both (ii) and (iii)
  • C Both (iii) and (iv)
  • D Both (ii), (iii) and (iv)

Question - 6

Which of the following is not true about economic crisis of India in 1990?

  • A India was highly indebted country, pay Rs. 10,000 crore as interest payment
  • B Foreign exchange reserves showed a marginal rise owing to policies between 1950 to 1990
  • C Inflation rate was very high at 16.8% per annum
  • D BOPwas in deficit of Rs. 30,000 crore

Question - 7

Deregulation of the economy and to introduce the policy of laissez-faire can be achieved through

  • A liberalisation
  • B globalisation
  • C privatisation
  • D None of these

Question - 8

____refers to an electronic device that allows an individual to make financial transactions electronically

  • A e-wallets
  • B Plastic cards
  • C Cheques
  • D None of the above

Question - 9

The pre-condition of privatisation to be successful requires

  • A liberalisation and de-regulation of the economy
  • B capital markets should be sufficiently developed
  • C Both (a) and (b)
  • D None of these

Question - 10

______ refers to the sale of equity of public sector units in the market.

  • A Liberalisation
  • B Globalisation
  • C Disinvestment
  • D Privatisation
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