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Basic Concepts of Economics

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Question: Which market responsible to change it’s quantity of supplied called—

  1. a.
    Goods market
  2. b.
    Short term market
  3. c.
    Long term market
  4. d.
    National market
  5. e.
    None of them
Answer: c

Question: According to ADB/World Bank, the expected GDP growth rate of Bangladesh in the current fiscal year is expected to be close to:

  1. a.
    9%
  2. b.
    8%
  3. c.
    7%
  4. d.
    5%
  5. e.
    None of these
Answer: d

Question: Backward integration is:

  1. a.
    A vertical integration in which a consumer of raw materials acquires its supplies.
  2. b.
    A horizontal integration in which a consumer of raw materials acquires its supplies.
  3. c.
    Ensuring that factory is located near a river at its backward
  4. d.
    Ensuring that factory is pollution free
  5. e.
    Engaging in selling of finished goods through new means.
Answer: a

Question: Demand elasticity of necessary goods will be--

  1. a.
    Zero
  2. b.
    Infinitive
  3. c.
    Elastic
  4. d.
    Inelastic
  5. e.
    None of the above
Answer: d

Question: Which is not property?

  1. a.
    Land
  2. b.
    Goodwill of the business
  3. c.
    Bank's cheque
  4. d.
    Shop
  5. e.
    None of the above
Answer: b

Question: In which of the following mineral resources is the most important for Bangladesh:

  1. a.
    Oil
  2. b.
    Gold
  3. c.
    Hard Rock
  4. d.
    Gas
  5. e.
    Lime Stone
Answer: d

Question: HDI is an index that represents development of a country by:

  1. a.
    Taking income, education and health under consideration
  2. b.
    Taking income, environment and corruption under consideration
  3. c.
    Taking income, growth and inflation under consideration
  4. d.
    Taking income, education and child mortality under consideration
Answer: a

Question: The GDP growth rate of Bangladesh in the year 2005-06 was--

  1. a.
    5.88%
  2. b.
    5.91%
  3. c.
    6.71%
  4. d.
    8.81%
  5. e.
    None of these
Answer: c

Question: Market will be deficit product when--

  1. a.
    Demand ≤ Supply
  2. b.
    Supply ≥ Demand
  3. c.
    Supply = Demand
  4. d.
    Supply < Demand
  5. e.
    None of the above
Answer: d

Question: The GDP Growth rate of Bangladesh is over----

  1. a.
    4.6
  2. b.
    3.6
  3. c.
    5.6
  4. d.
    None of them
Answer: c

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