25 MCQ on Changing Occupational Structure and Impact of liberalization

 1. The changing occupational structure refers to:

a) Shifts in the distribution of employment across different sectors of the economy b) Changes in job titles within a specific industry c) Movement of workers from one region to another d) Changing working hours for employees Answer: a) Shifts in the distribution of employment across different sectors of the economy

2. Which sector typically experienced a decline in employment due to industrialization and technological advancements? a) Agricultural sector b) Manufacturing sector c) Services sector d) Mining sector Answer: a) Agricultural sector

3. The process of liberalization generally involves: a) Opening up markets to more competition and reducing government intervention b) Strict government control over the economy c) Nationalization of key industries d) Promotion of monopolies Answer: a) Opening up markets to more competition and reducing government intervention

4. The impact of liberalization on the job market often includes: a) Increased opportunities for entrepreneurship b) Decreased job opportunities due to increased competition c) Reduced importance of skills and education d) Greater job security for employees Answer: a) Increased opportunities for entrepreneurship

5. "Gig economy" refers to: a) An economy characterized by a large number of temporary or freelance workers b) An economy dominated by large corporations c) An economy with a focus on agriculture d) An economy with a high dependency on the manufacturing sector Answer: a) An economy characterized by a large number of temporary or freelance workers

6. Which industry saw a significant boom due to liberalization and globalization? a) Agriculture b) Information technology (IT) c) Mining d) Traditional handicrafts Answer: b) Information technology (IT)

7. "Brain drain" is the phenomenon where: a) Skilled workers emigrate from a country in search of better opportunities elsewhere b) Unskilled workers migrate to a country in search of better opportunities c) Workers shift from rural to urban areas d) Workers move within the same country for job opportunities Answer: a) Skilled workers emigrate from a country in search of better opportunities elsewhere

8. Which of the following is a characteristic of the post-liberalization era in many countries? a) Increased protectionism b) Decline in foreign investment c) Privatization of state-owned enterprises d) Centralized economic planning Answer: c) Privatization of state-owned enterprises

9. The process of liberalization often results in: a) Diversification of the economy b) Increased government control over industries c) Decline in international trade d) Reduction in foreign investment Answer: a) Diversification of the economy

10. "Invisible hand" is a term often associated with: a) Adam Smith's theory of market forces regulating the economy b) Karl Marx's theory of socialist revolution c) John Maynard Keynes' theory of government intervention d) Friedrich Hayek's theory of central planning Answer: a) Adam Smith's theory of market forces regulating the economy

11. The term "job polarization" refers to: a) The division of jobs into high-skilled and low-skilled categories with a decline in middle-skilled jobs b) The creation of new jobs due to technological advancements c) The equal distribution of jobs across different skill levels d) The elimination of low-skilled jobs in the market Answer: a) The division of jobs into high-skilled and low-skilled categories with a decline in middle-skilled jobs

12. "Laissez-faire" economics advocates for: a) Minimal government intervention in the economy b) Maximum government control over the economy c) Promotion of monopolies d) Nationalization of all industries Answer: a) Minimal government intervention in the economy

13. The term "outsourcing" in the context of changing occupational structure refers to: a) Contracting out specific business functions or processes to external service providers b) Hiring temporary workers for short-term projects c) Shifting workers from one department to another within the same organization d) Replacing manual labor with automation Answer: a) Contracting out specific business functions or processes to external service providers

14. "Reskilling" is essential in the changing occupational structure to: a) Update workers' skills to meet the demands of new job roles and technologies b) Eliminate jobs and reduce labor costs c) Transition workers to retirement d) Encourage early retirement Answer: a) Update workers' skills to meet the demands of new job roles and technologies

15. The "Industrial Policy 1991" in India was a significant step towards: a) Liberalization and opening up of the Indian economy to global markets b) Nationalization of key industries c) Centralized economic planning d) Protectionism and isolation from international trade Answer: a) Liberalization and opening up of the Indian economy to global markets

16. The process of liberalization, privatization, and globalization (LPG) was primarily initiated in India during the year: a) 1975 b) 1985 c) 1991 d) 2000 Answer: c) 1991

17. The impact of liberalization on global trade is often characterized by: a) Increased international trade and global market integration b) Restricted trade barriers and protectionist policies c) Decreased global trade and economic isolation d) Equal distribution of trade benefits among nations Answer: a) Increased international trade and global market integration

18. The term "casualization of labor" refers to: a) A trend where more workers are employed on a temporary or casual basis, lacking job security and benefits b) The strict regulation of working hours and conditions c) The transformation of traditional industries into casual wear manufacturing units d) The increased formality in labor contracts Answer: a) A trend where more workers are employed on a temporary or casual basis, lacking job security and benefits

19. Which sector typically witnessed a rise in employment opportunities due to liberalization and globalization? a) Manufacturing sector b) Information technology (IT) sector c) Traditional handicrafts sector d) Agriculture sector Answer: b) Information technology (IT) sector

20. "Economic liberalization" primarily refers to: a) Opening up the economy to free trade and reducing government intervention in markets b) Government control and regulation of all economic activities c) Prioritizing state-owned enterprises over private businesses d) Encouraging monopolistic practices for economic growth Answer: a) Opening up the economy to free trade and reducing government intervention in markets

21. "Deindustrialization" often refers to: a) A decline in the importance of the manufacturing sector in an economy b) The shift from an agrarian to an industrial economy c) The centralization of industries within a specific region d) The privatization of state-owned industries Answer: a) A decline in the importance of the manufacturing sector in an economy

22. The "digital divide" in the context of changing occupational structures relates to: a) Unequal access to and utilization of digital technologies between different socioeconomic groups b) The increasing reliance on digital skills for all jobs c) The divide between urban and rural areas in terms of digital infrastructure d) The lack of relevance of digital skills in modern workplaces Answer: a) Unequal access to and utilization of digital technologies between different socioeconomic groups

23. Which of the following is an impact of changing occupational structures on income distribution? a) Increased income inequality due to differing wages in different sectors b) Decreased income inequality due to uniform wages across sectors c) Equal income distribution across all sectors d) Stagnation of incomes across all sectors Answer: a) Increased income inequality due to differing wages in different sectors

24. The "brain gain" phenomenon refers to: a) Attracting skilled professionals from other countries to work and contribute to the local economy b) The migration of skilled professionals within a country for better job opportunities c) A decline in the number of skilled professionals in a country due to emigration d) The redistribution of skilled professionals within a country to address regional imbalances Answer: a) Attracting skilled professionals from other countries to work and contribute to the local economy

25. The "gig economy" is characterized by: a) Short-term contracts and freelance work rather than permanent jobs b) Stable and secure long-term employment contracts c) Centralized control of work assignments by the government d) Equal distribution of workload among workers Answer: a) Short-term contracts and freelance work rather than permanent jobs