Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal NCERT Solutions | Why is it necessary to became a member o
Why is it necessary to became a member of WTO?
It is important for any country to become a member of WTO (World Trade Organisation) for the following reasons:
i) WTO provides equal opportunities to all its member countries to trade in the international market.
ii) It provides its member countries with larger scope to produce at large scale to cater to the needs of people across the international boundaries. This provides ample scope to utilise world resources optimally and provides greater market accessibility.
iii) It advocates for the removal of tariff and non-tariff barriers, thereby, promoting healthier and fairer competition among different producers of different countries.
iv) The countries of similar economic conditions being members of WTO can raise their voice to safeguard their common interests.
More Questions From Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal
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How is RBI controlling the commercial banks?
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Distinguish between the following
(i) Strategic and Minority sale
(ii) Bilateral and Multi-lateral trade
(iii) Tariff and Non-tariff barriers. - Q:-
Agriculture sector appears to be adversely affected by the reform process. Why?
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Why were reforms introduced in India?
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Those public sector undertakings which are making profits should be privatised. Do you agree with this view? Why?
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Do you think outsourcing is good for India? Why are developed countries opposing it?
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Why did RBI have to change its role from controller to facilitator of financial sector in India?
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Do you think the navaratna policy of the government helps in improving the performance of public sector undertakings in India? How?
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What do you understand by devaluation of rupee?
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Why are tariffs imposed?
Popular Questions of Class 11 Economics - Indian Economic Development
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What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
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What are the two major sources of human capital in a country?
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What do you mean by rural development? Bring out the key issues in rural development.
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Define a plan?
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Who is a worker?
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Explain the term ‘infrastructure’.
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What is meant by environment?
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Why calorie-based norm is not adequate to identify the poor?
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Name some notable economists who estimated India’s per capita income during the colonial period?
Recently Viewed Questions of Class 11 Economics - Indian Economic Development
- Q:-
Match the following:
1. Prime Minister
2. Gross Domestic Product3. Quota
4. Land Reforms
5. HYV Seeds
6. Subsidy
A. Seeds that give large proportion of output
B. Quantity of goods that can be importedC. Chairperson of the planning commission
D. The money value of all the final goods and services produced within the economy in one year.
E. Improvements in the field of agriculture to increase its productivity
F. The monetary assistance given by government for production activities.
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Find the odd man out (i) owner of a saloon (ii) a cobbler (iii) a cashier in Mother Dairy (iv) a tuition master (v) transport operator (vi) construction worker.
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Illustrate the difference between rural and urban poverty. Is it correct to say that poverty has shifted from rural to urban areas? Use the trends in poverty ratio to support your answer.
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Do you think that in the last 50 years, employment generated in the country is commensurate with the growth of GDP in India? How?
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What are the functions of the environment?
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Indicate the volume and direction of trade at the time of independence.
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State any four pressing environmental concerns of India. Correction for environmental damages involves opportunity costs — explain.
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Why was the public sector given a leading role in industrial development during the planning period?
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Suppose you are a resident of a village, suggest a few measures to tackle the problem of poverty.
- Q:-
What problems are being faced by the power sector in India?
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