Directions (1 to 10): Read the following passage carefully and answer the questions given below it. Certain words/phrases are given in bold to help you to locate them while answering some of the questions.
According to some economists swadeshi does not mean insulating India’s economy from the world economy. The basic idea of swadesi is to have a calibrated process of opening of the economy so that all segments are enabled to compete with the best in the world after going through intense internal competition leading to mergers, acquisitions and eliminations. This is how Japan had developed its industry and the entire economy.
However, under the present world situation and the dire necessity of mitigating conditions of poverty in the country, the Government has to decide as to how much of free trade is to be allowed in the different segments of economy in order to achieve the rate of growth planned for the economy during the period of Ninth Plan.
All over the world people have been found to be divided on the crucial question of protection and free trade. A recent study has found that the protectionists in the world outnumber free traders and are showing further increase in their number.
The study has been made for The Economist by the Augus-Reid Group, a Canadian pollster. It is based upon an opinion poll carried out among 12741 adults spread over 22 important countries of the world. The leading question asked in the poll was as to which of the following two approaches do you think would be the best way to improve the economic and employment situation in this country :
(i) Protecting our local industries by restricting imports, or (ii) Removing import restrictions to increase our international trade?
Replies received to this question showed that – (a) Protectionists world-wide outnumber free traders 47% to 42% (b) Proportion of people supporting free trade had declined from 43% in 1997 to 42% in 1998.
The trend for a fall in the number of free traders and a rise in the number of protectionists has been called as ‘amazing’ in the study because it has shown a negative result for the stupendous global efforts of the WTO, the World Bank the IMF and the most powerful G – 7 countries for the propagation and promotion of free trade and globalisation in the world.
It is interesting to note that America, Australia, UK, Canada and Italy, who are strong champions of free trade in the world have large majority of their own people still supporting protection! The study says : “A clear majority of Americans (56% to 37%) are protectionists even today”. And over the past one year, the number of free traders in America had declined by 4%. Such decline was much higher in Italy (21%), Canada (13%) and UK (12%).
- The credit of Japan’s industrial and economic development goes to the strategy of …
(1) isolating its own economy from the world economy
(2) effectively facing internal and external economic competition.
(3) merging its industries with those of foreign players.
(4) elimination of loss-making industries and acquisition of profit-making ones.
(5) None of these
- Which of the following is misinterpretation of “Swadesi”, according to some economists?
(1) Intense internal competition leading to mergers etc.
(2) Its equivalence to Japan’s developmental strategies.
(3) Intense competition with the best in the world.
(4) Our own strategies disregarding global economy
(5) None of these
- The finding of the Augus-Reid Group is in favour of…
(A) Protectionists
(B) Advocates of free trade
(1) (A) Only
(2) (B) Only
(3) (A) Only in 8 countries
(4) (A) Only in 4 countries
(5) None of these
- Which one of the following sentences is true in the context of the passage?
(1) Majority is in favour of protectionism.
(2) Not many are in favour of protectionism.
(3) Only G-7 countries are in favour of free trade.
(4) World Trade Organisation and International Monetary Fund, etc. are in favour of protectionism.
(5) None of these
- It can be inferred from the last paragraph of the passage that ..
(1) there is a swing of public opinion in favour of free trade.
(2) advocates of free trade are gradually out-numbering protectionists.
(3) American free traders are on decline very much than any other countries.
(4) most of the people in the countries who are champions of free trade are in favour of free trade.
(5) None of these
- What according to the passage is the effect of promotion of free trade in G7 countries?
(1) Contrary to whatever is desirable
(2) Same as was anticipated
(3) Encouraging, though not perfectly as desired
(4) Not mentioned in the passage
(5) None of these
Directions (7 to 8): Choose the word which is most nearly the SAME in meaning as the word/group of words printed in bold as used in the passage.
- Propagation
(1) realisation
(2) demarcation
(3) formulation
(4) assimilation
(5) dissemination
- Calibrated
(1) influenced by sentiments
(2) gauged with standard
(3) decided arbitrarily
(4) based on conjectures
(5) based on imagination
Directions (9 to 10): Choose the word which is most OPPOSITE in meaning to the word printed in bold as used in the passage.
- Stupendous
(1) enormous
(2) negligible
(3) tiny
(4) marvellous
(5) unprecedented
- Intense
(1) fragile
(2) fierce
(3) unchallenging
(4) unscrupulous
(5) extreme
Directions (11-15): Rearrange the following six sentences (A), (B), (C), (d), (E) and (f) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
(A) For other wishes, it enlists the help of those who make or own what the child desires.
(B) It grants some wishes with its own funds depending upon the availability of funds.
(C) I was deeply moved when I learnt about the activity of “Make-a-Wish Foundation”.
(D) From parents, friends, or hospital attendants, the foundation learns about the child’s wish for anything from a special toy to a visit to Disneyland.
(E) I am sure you also now must have been moved by the noble act of the foundation.
(F) It grants the wishes of children who are terminally ill.
- Which of the following should be the fourth sentence after rearrangement?
(1) F (2) E
(3) D (4) C
(5) B
- Which of the following should be the sixth (last) sentence after rearrangement?
(1) F (2) E
(3) D (4) C
(5) B
- Which of the following should be the second sentence after rearrangement?
(1) F (2) E
(3) D (4) C
(5) B
- Which of the following should be the third sentence after rearrangement?
(1) F (2) E
(3) D (4) C
(5) B
- Which of the following should be the first sentence after rearrangement?
(1) F (2) E
(3) D (4) C
(5) B
Solution
- (2); “The basic idea of swadesi is to have a calibrated process of opening of the economy so that all segments are enabled to compete with the best in the world after going through intense internal competition leading to mergers, acquisitions and eliminations.”
- (5); “According to some economists swadeshi does not mean insulating India’s economy from the world economy.”
- (5); The finding of the Augus-Reid Group is in favor of “The Economist”
- (1); “A clear majority of Americans (56% to 37%) are protectionists even today”
- (4); Most of the people in the countries who are champions of free trade are in favour of free trade.
- (4); It is not mentioned in the passage.
- (5); Propagation means spreading more widely.
Dissemination means spreading widely. So, Propagation is the word which is similar in meaning to Dissemination.
- (2); Calibrate-If you calibrate something you measure it accurately.
Gauge- If you gauge the speed or strength of something you measure or calculate it.
So, Calibrate is the word which is similar in meaning to Gauge with standard.
- (2); Stupendous – is used in the passage to mean very large, grand or impressive.
Negligible- not important because it is too small. So, Stupendous is opposite in meaning to Negligible.
- (1); Intense is used in the passage to mean very great in strength or degree.
Fragile means not strong and healthy, weak. So, Intense is opposite in meaning to fragile.
For questions (11-15): The proper sequence of sentences to form a meaningful paragraph will be CFDBAE
- (5); B
- (2); E
- (1); F
- (3); D
- (4); C
Subscribe Our Youtube Channel click here
Mail us at:- ambitiousbaba1@gmail.com
