Basic Concepts of Economics
A monopolist’s Principle is—-Equalize Average revenue(AR) to Marginal revenue(MR)
What is the category of Bangladesh economy?-Mixed
In which market advertising cost is not essential?-Perfect competition
Which market responsible to change it’s quantity of supplied called—-Long term market
In the perfect competition market a firm faces about—-Marginal revenue = price
Which is not property?-Goodwill of the business
Which products are used in production process insted of consumption is called---Intermediate goods
The sector That consumes the most natural gas in Bangladesh is---Power
Which one is the characteristic of an undeveloped country?-expected population
What is GNP deflator?-Nominal GNP/Real GNP
Backward integration is:-A vertical integration in which a consumer of raw materials acquires its supplies.
Savings is a function of---Income
According to the recent report of the world bank, how many districts of Bangladesh are under extreme proverty areas?-15
What is the feature of a natural Monopoly?-Average costs fall over the entire range of output
TIN Stands for---Tax Identification Number
In which market a firm is called price taker?-Perfect competition
Market will be surplus product when---Demand < Supply
The formula of determining per capital income is---.-GNP ÷ population
The monetary value of all the final goods and services produced by an economy over a specified period is called---Gross National Product
'Ceteris paribus' meaning of the word is---Other things remaining constant
The Chittagong Stock Exchange was established in—-1995
The GDP growth rate of Bangladesh in the year 2005-06 was---6.71%
The price elasticity is-- 0.71 means?-an increase in price by Tk 0.71 reduces the demand by Tk 1
What do you mean by the meet want of a good?-Utility
The contribution of the 'Agricultural sector in GDP in Bangladesh in 2005-06 was---21.77%
Who is the writer of 'Das Capital'?-Karl Marx
In which market firm and industry are the same?-Monopoly
Who is the lomgest serving Finance Minister of Bangladesh?-M Saifur Rahman
Who is the writer of 'Principles of Economics'?-Marshall
Which is not to be considered as economic goal?-Perfect competition
Sacrifice of the best possible uses is called to the----Opportunity cost
Who is the pioneer of the consept 'Consumer Surplus'?-Marshall
Normal goods means---Which's quantity demanded falls at the rising price
A rational consumer what does want to maximize?-Total utility
Profit of a firm is equal to—-Total revenue – Total cost
Which of the following is not a factor of production?-money
What is a central assertion of 'Monetarist' economics?-The money supply dominates determination of aggregate monetary expenditure
Market will be deficit product when---Supply < Demand
Which one is the unique determinant of investment?-Interers rate
Which is the principle of capitalist economy?-Private ownership of property
ΔQ = 10, ΔP = 5, p = 12, Q = 6, What will be the value of elasticity?-4
Which sector uses largest volume of gas in Bangladesh?-BPBD
In which year will we achieve Millennium Development Goal(MDG)?-2015
According to ADB/World Bank, the expected GDP growth rate of Bangladesh in the current fiscal year is expected to be close to:-5%
Demand elasticity of salt---Inelastic
When the price of a goods decreases 10% then the quantity demanded of this goods rises 4%, the demand elasticity of this good will be---Inelastic
'Every person will work according to their ability and will consum according to their necessity'. This is the principle of---Communism
Which of the following could result in a monopolist being a price taker?-a maximum price set by the government
The GDP growth rate of Bangladesh in 2004-05 was close to---6%
If the total cost C = 1000 + 0.2s, where 's' is the sales volume, the variable cost on sales of Tk. 1000 will be Taka?-200
'Essay on the principles of population' written by---Malthas
Which sector has the highest contribution to the Gross Domestic Product of Bangladesh?-Industry
Which one is not the main sector of the economy of Bangladesh?-Construction
Which is not a resource?-Air
What is the relation between savings and investment?-Positive
Which kind of cost will become zero when total productivity is equal to zero?-Variable cost
Bangladesh is ---- country.-least developed
What is the main economic problem facing all societies?-how to reduce poverty
Which of the following is most likely to be found in a developing economy?-a low capital : labour ratio
A firm will earn normal profit when—-Marginal cost = Marginal revenue
Who had devided Economics in two partsw (Macro & Micro Economy) at first?-Keynes
HDI is an index that represents development of a country by:-Taking income, education and health under consideration
An inquiary into the Nature and Causes of the wealth of Nation? Who is the writer of this book?-Adam Smith
Alternative name of capitalist economy?-Competetive economy
The GDP Growth rate of Bangladesh is over-----5.6
In which market commodition price is fined?-Perfect competition
Computer hard disc is what kind of product?-Intermediate goods
In 2003-04, Bangladesh received the highest foreign currency remittance from---Saudi Arabia
Which will be included to the GDP?-Buy a T. V for home
The target year of achieving the Millenium Development Goal is---2015
"Capital is the factor produced by productivity", qoutate by---Bom-work
What do you mean by market in Economics?-Demand and supply of a goods
What is cause of downward slopping demand curve?-Diminishing marginal utility
How many gas field have been identified for exploration in Bangladesh?-23
Who is the founder of classical economics?-Adam Smith
Who is the founder of socialism?-Karl Marx
Who is the father of Economics?-Adam Smith
What will cause interest rates to rise?-an increase in the volume of output
What do you mean by total economic cost?-Total explicit cost + Total implicit cost
Gross domistic product - Depreciation cost =?-Net Domestic Product
Demand elasticity of necessary goods will be---Inelastic
Fundamental psylehological law of consumption stated by---Keynes
What would increase the value of the multiplier?-a reduction in the marginal propensity to import
Which is not a property of wealth?-Availability
Which of the following is the apex body of the private sector business community in Bangladesh?-FBCCI
The term 'cost' in 'cost-benefit analysis' is defined as---social cost
A monopolist will earn normal profit when—-Average cost(AC) = Average revenue(AR)
An increase in investment is most likely to be caused by---Lower interest rates
Investment depends mainly on:-Future expected profits
When will a reduction in unemployment result in an increase in inflation?-When the economy reaches its production possibility curve
Which type of unemployment is associated with a deficiency in aggregate demand?-cyclical
Jute market what kind of market it?-International market
Demand elasticity of a straight line in every point---Different
In which market is no hear substitute goods?-Monopoly
What do you mean by demand?-a, b, c combinely correct
In economics production means---Create utility
The Hon'able Minister, Ministry of Finance, Government of the People's Republic of Bangladesh is---Mr. Abul Maal Abdul Muhith
‘Rural electrieity’ is the example of—-Monopoly market
What is likely to cause an increase in atructural unemployment?-more rapid technical change
What kinds of science of Economics is?-Social Science
What is Nominal GNP?-Real GNP × GNP deflator
Which condition makes price discrimination is possible?-Identical elasticities of demand in the market
When income raises then the demand of some goods falls those goods are called---Inferior goods
In which part of the economics Dr. Amartya Sen got noble prize?-Welfare economocs
In which of the following mineral resources is the most important for Bangladesh:-Gas
Devaluation of Taka is likely to increase—-Export
There is no advertising cost in the----Perfect competition
Which one is usually bigger, GNP, GDP or NNP?-GNP
'Everyman will work according to their ability and will get remunaration according to their working capacity'-- this is the characteristics of ---Socialism
Demand curve shows the relation between demand and----Price
In which market perfect mobilization of factor does exisists?-Perfect competition
Resource in an economy---Are limited at any moment in time
When real GDP decreases then the Nominal GDP---Increase or decrease may both occured at the same time
The acronym GDP stands for?-Gross Domestic Product
What is necessary for consumer surplus to be zero?-Demand is perfectly elastic