Question : Statement 1: The New Economic Policy of 1991 aimed at liberalizing India's industrial policies.
Statement 2: The New Economic Policy encouraged foreign investment and globalization.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is true. The New Economic Policy of 1991, also known as economic liberalization or economic reforms, was introduced to dismantle the License Raj system and liberalize India's industrial policies. It aimed to reduce government intervention, promote market-oriented reforms, and encourage private sector participation.
Statement 2 is also true. The New Economic Policy of 1991 indeed encouraged foreign investment and globalization. It opened up several sectors to foreign investment, relaxed restrictions on imports and exports, and promoted trade and economic integration with the global market.
Therefore, both statements are true. The New Economic Policy of 1991 aimed at liberalizing India's industrial policies, and it also encouraged foreign investment and globalization.
Question : Statement 1: Top-level management is responsible for day-to-day operations.
Statement 2: Top-level management is responsible for setting organizational objectives and formulating policies.
Option 1: Both statements are true
Option 2: Both are incorrect
Option 3: Statement 1 is true, and Statement 2 is false.
Option 4: Statement 1 is false, and Statement 2 is true.
Question : Statement 1: The primary function of middle-level management is to develop long-term strategies and policies.
Statement 2: They are responsible for coordinating the activities of various departments.
Question : Which of the following statement is correct? Statement 1- Qd Ltd. Is using environment friendly technique for producing goods. The company is trying to achieve social objectives of environment. Statement 2- Drafting departmental policies is the duty of the top level management.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Question : Which of the following statement is correct? Statement 1: The policies adopted by manufacturers to attain success in the market constitute the marketing mix. Statement 2: The firms task is to find the best setting for its marketing decisions variables. This setting constitute its marketing mix.
Option 4: Statement 1 is false and statement 2 is true.
Question : Statement 1: India, Pakistan, and China have implemented measures to reduce income inequality.
Statement 2: Government policies and social welfare programs aim to bridge the income gap in these countries.
Option 3: Statement 1 is true, Statement 2 is false.
Option 4: Statement 2 is true, Statement 1 is false.
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