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Q1-10. Read the following passage carefully and answer the questions given below it.
Globalisation means something which covers or relates the whole world instead of being confined to a particular country. With the development of modern science and technology, whole world has been closely united as a global village. What happens in one country has its impact on others. We are using the term internationalism as a political process. This process highlights increasing political, social, economic and cultural relations among various nations of the world. Now globalisation is advocated as a process aimed at integrating the whole world system. It implies the integration of a nation’s economy with the world economic system.
Globalisation means different things to different people. Economists consider it as a step towards a fully integrated world market. Some political scientists view it as a march away from the conventionally defined concept of the state. The sovereignty of the state is challenged with the emergence of non-governmental power players in the world order. Globalisation is not an event, rather a process which originated with the liberalisation and privatisation of the economic sectors. It aims for the establishment of a borderless world.
Nations having socialistic economic system and mixed economy failed to achieve targeted economic growth. In 1980s, public sectors faced loss due to bureaucratic inefficiency, red-tapism, political interference, corruption and irresponsibility of the managing authority. Where there is ‘monopoly’ there is inefficiency due to lack of competition. Public sectors thus, failed to produce profitable results and created massive financial loss. There was price rise, capital crunch, lack of technical know-how and slow pace in economic growth. The situation demanded Soviet Russia to initiate economic reforms through “Perestroika”. More or less, India faced the same situation. To overcome the situation, Rao government adopted the new economic policy of liberalisation and privatisement.
Before 1970s, industrially develop western countries faced economic crisis. Economic depression lowered down the profit of big industries. Instead of depending on their own market, the entrepreneurs wanted to expand their business in other countries of the world. While these western companies were in search of market in different parts of the world, socialistic states wanted them in the privatisation process of public sectors. Undeveloped third world countries also realized the need of foreign capital and technical knowhow for their economic growth. The process of economic liberalisation began as a precondition of globalisation. Thus, capital, technical knowledge, labour, profit, managerial skill etc. move from one nation to another cutting across the territorial limitation with the primary goal of expanding trade and business.
Globalisation, as a negative process, stands for the abolition of protective economic policies which were previously adopted in the national interest. Governments had created trade barriers by increasing the rate of tariff and through the imposition of restrictions on import of foreign goods. Globalisation stands for the elimination of such negative barriers for the free flow of goods and capital. Positively speaking, globalisation encourages free world trade, free enterprise and market forces. It advocates for the process of integrating the domestic economy with the world economy through increased collaborations among the entrepreneurs. In this process, they can have access to more capital flows, technical knowhow, cheaper imports and larger export markets. India became independent as one of the poorest countries of the world. The British colonial rule had destroyed the self-sufficient agrarian economy.
Q.1. With the development of modern science and technology, whole world has been closely united as-
(A) A global village
(B) A fanciful town
(C) A united country
1. Only (A)
2. Only (B)
3. Only (C)
4. Only (A) and (B)
5. All (A), (B) and (C)
Q.2. What is meant by the word globalisation according to the passage?
(A) It means a general statement or concept obtained by inference from specific cases.
(B) It means something which covers or relates the whole world instead of being confined to a particular country.
(C) It means the changing of something from private to state ownership or control. the organization of a nation of the basis of communism.
1. Only (A)
2. Only (B)
3. Only (A) and (B)
4. Only (B) and (C)
5. All (A),(B) and (C)
Q.3. What does the term internationalism as a political process highlight?
(A) It highlights a process by which an individual or group comes to adopt increasingly extreme political and social aspirations.
(B) It highlights increasing political, social, economic and cultural relations among various nations of the world.
(C) It highlights the stage of human social development and organization which is considered most advanced.
1. Only (A)
2. Only (B)
3. Only (A) and (B)
4. Only (B) and (C)
5. All (A),(B) and (C)
Q.4. Which of the following statements is/are true according to the passage?
(A) The sovereignty of the state is challenged with the emergence of non-governmental power players in the world order.
(B) Globalisation is not an event, rather a process which originated with the liberalisation and privatisation of the economic sectors.
(C) Globalisation aims for the establishment of a borderless world.
(D) Nations having socialistic economic system and mixed economy failed to achieve targeted economic growth.
1. Only (A)
2. Only (B)
3. Only (A) and (B)
4. Only (B) and (C)
5. All (A),(B),(C) and (D)
Q.5. Which of the following is/are encouraged by globalisation?
(A) free world trade
(B) free enterprise
(C) market forces
1. Only (A)
2. Only (B)
3. Only (A) and (B)
4. Only (B) and (C)
5. All (A),(B) and (C)
Q.6. Why did public sectors face the loss in 1980s?
(A) Because of bureaucratic inefficiency and red-tapism.
(B) Because of political interference and corruption.
(C) Because of irresponsibility of the managing authority.
1. Only (A)
2. Only (B)
3. Only (A) and (B)
4. Only (B) and (C)
5. All (A),(B) and (C)
Q.7. What did then government do to overcome the situation, as per the given passage?
(A) The government adopted the new economic policy of liberalisation and privatisement.
(B) The government adopted the economic liberalisation that began as a precondition of globalisation.
(C) The government created the trade barriers.
1. Only (A)
2. Only (B)
3. Only (C)
4. Only (A) and (B)
5. Only (B) and (C)
Q.8. What does Globalisation, as a negative process, stand for according to the passage?
(A) It stands for lack of technical know-how and slow pace in economic growth.
(B) It stands for the situation demanded by Soviet Russia to initiate economic reforms through “Perestroika”.
(C) It stands for the abolition of protective economic policies which were previously adopted in the national interest.
1. Only (A)
2. Only (B)
3. Only (C)
4. Only (A) and (B)
5. All (A), (B) and (C)
Q.9. What does the word ‘Globalisation’ encourage as mentioned in the passage?
(A) Globalisation encourages free world trade
(B) Globalisation encourages free enterprise and market forces.
(C) Globalisation encourages the process of integrating the domestic economy with the world economy.
1. Only (A)
2. Only (B)
3. Only (C)
4. Only (A) and (B)
5. All (A), (B) and (C)
Q.10. Which of the following statements is/are Not true in context of the passage?
1. India became independent as one of the poorest countries of the world.
2. The British colonial rule had destroyed the self-sufficient agrarian economy.
3. Through increased collaborations among the entrepreneurs. In this process, they can have access to more capital flows, technical knowhow, cheaper imports and larger export markets.
4. The process of economic liberalisation began as a precondition of globalisation.
5. The western companies were in search of business locations in different parts of the world.
Answers
Q.1. -(4) Answer lies in the beginning of the passage.
Q.2. -(4) Answer lies in the beginning of the passage.
Q.3. - (2) Answer lies at last of the first paragraph.
Q.4. -(5) Answer lies in the beginning of the second paragraph.
Q.5. -(5) Answer lies in the last paragraph.
Q.6. -(5) Answer lies in the beginning of the third paragraph.
Q.7. -(1) Answer lies at last of the third paragraph.
Q.8. -(3) Answer lies in the beginning of the fourth paragraph.
Q.9. -(4) Answer lies in the mid of the fourth paragraph.
Q.10. -(5)
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