Question 1

A company that owns or controls production in more than one nation is called a:

Accepted Answer

A Multi-National Corporation (MNC) is a company that owns or controls production in more than one nation. MNCs set up offices and factories for production in regions where they can get cheap labour and other resources.

Question 2

Investment made by MNCs is called:

Accepted Answer

Investment made by MNCs is called foreign investment. Any investment is made with the hope that these assets will earn profits.

Question 3

The process of rapid integration or interconnection between countries is known as:

Accepted Answer

Globalisation is the process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process.

Question 4

Removing barriers or restrictions set by the government is known as:

Accepted Answer

Removing barriers or restrictions set by the government is known as liberalisation. With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.

Question 5

Which organization aims to liberalise international trade?

Accepted Answer

World Trade Organisation (WTO) is an organisation whose aim is to liberalise international trade. It establishes rules regarding international trade and sees that these rules are obeyed.

Economics: Globalisation and the Indian Economy — NCERT Class 10 Social Science Important Questions & Revision Notes