1. Removing barriers or restrictions set by the government is called_________
2. Rapid integration or interconnection between countries is known as _________
3. True/False
(I) Increase in GNP is a positive impact of liberalisation.
(Ii). Deregulation of industries is a feature of economic reforms introduced in 1991 in India.
(iii) Rapid integration or interconnection between countries is known as socialisation.
(iv) World trade organization was started at the initiative of developing countries.

4. Define a multinational corporation.
5. Why do MNCs set up their offices and factories in those regions where they get cheap labour and other resources.
6. Define investment.
7. What is foreign investment?
8. Mention two benefits that local companies get when they set up production units in association with the MNCs.
9. How are the MNCs spreading their production across the Globe?
10. What happens to the sales of the Indian toys when Chinese toys invade the domestic market?
11. Define Globalization.
12. Due to which reason the latest models of different items are available within our reach?
13. Give one major factor that has stimulated the globalization process.
14. What is meant by trade barrier?
15. How government can use trade barriers?
16. Why had the Indian government put barriers to foreign trade and foreign investment after Independence?
17. Why did the Indian government remove barriers to a large extent on foreign trade and foreign investment?
18. Define Liberalisation.
19. What is the aim of WTO?
20. How many countries of the world were members of the WTO in July 2016?
21. What are SEZ?
22. Which countries have been hit hard by the competition?
23. Give two examples of Indian companies which have emerged as Multinational companies.
24. What are the benefits of goods or products produced by the MNCs?
25. How has globalization benefitted the well-off consumers?
26. Who forced the developing countries to remove the trade barriers?