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LPG Model (or New Economic Policy) Economics - LPG Model (or New Economic Policy)

ICSE - STD 9 - Economics (ICSE - English Medium). 48 questions in this chapter.

Question types

LPG Model (or New Economic Policy) question types

48 questions across 6 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.

48
Questions
6
Question groups
5
Question types
Sample Questions

LPG Model (or New Economic Policy) questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Q 1MCQ1 Mark
Globalisation of the Indian Economy is the outcome of :
  • A
    Rapid Growth in IT technology
  • B
    Liberalisation measures
  • ✓
    Both (a) and (b)
  • D
    Outsourcing

Answer: C.

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Q 2MCQ1 Mark
Which of the following describes as a positive impact of globalisation for India?
  • A
    Greater access to global markets
  • B
    High technology
  • C
    Increased possibility of large industries of India to become MNC
  • ✓
    All of these

Answer: D.

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Q 3MCQ1 Mark
Ranbaxy is a multinational company which is associated with
  • A
    automobiles
  • B
    cell phones
  • ✓
    medicines
  • D
    none of these

Answer: C.

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Q 4MCQ1 Mark
Why did the government decide to remove barriers on foreign trade and foreign competitor?
  • A
    To earn the foreign exchange
  • B
    To complete with producers in the world market
  • C
    To bring faster growth in the economy
  • ✓
    All of these

Answer: D.

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Q 5MCQ1 Mark
Which of the following is a 'barrier' of foreign trade?
  • A
    Import quota
  • B
    tax on imports
  • C
    Tax on local trade
  • ✓
    Both (a) and (b)

Answer: D.

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Q 6Assertion (A) & Reason (B) MCQ1 Mark
Statement (1): Globalisation has brought huge growth of Indian agriculture.
Statement (2): New reforms were introduced to promote economic growth and improve India's foreign exchange situation.
  • A
    Both statements are true.
  • B
    Both statements are false.
  • C
    Statement 1 is true, Statement 2 is false.
  • ✓
    Statement 2 is true, Statement 1 is false.

Answer: D.

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Q 7Assertion (A) & Reason (B) MCQ1 Mark
Statement (1): Globalisation has created jobs in the service sector.
Statement (2): Removing restrictions on trade and trade by the government is known as globalisation.
  • A
    Both statements are true.
  • B
    Both statements are false.
  • ✓
    Statement 1 is true, Statement 2 is false.
  • D
    Statement 2 is true, Statement 1 is false.

Answer: C.

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Q 8Assertion (A) & Reason (B) MCQ1 Mark
Assertion(A): LPG policy was introduced in 1991.
Reason(R): LPG stands for liberalisation, privatisation and globalisation.
  • ✓
    Both Assertion(A) and Reason(R) are true and Reason(R) is the correct explanation of Assertion(A).
  • B
    Both Assertion(A) and Reason(R) are true and Reason(R) is not the correct explanation of Assertion(A).
  • C
    Assertion(A) is true but Reason(R) is false.
  • D
    Assertion(A) is false but Reason(R) is true.

Answer: A.

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