Principles of Economics and Bangladesh Economy question Paper, May, 2011
Posted by Ripon Abu Hasnat on Tuesday, September 16, 2014 | 0 comments
Banking Diploma Examination— May, 2011
JAIBB
PRINCIPLES OF ECONOMICS & BANGLADESH ECONOMY
JAIBB
PRINCIPLES OF ECONOMICS & BANGLADESH ECONOMY
I. a) what do you mean by Positive Economics and Normative Economics? Indicate differences.
b) Explain the relationship of Economics with (i) Statistics; and (ii) Sociology.
2. a) What is meant by opportunity Cost?
b) What is the implication of the opportunity cost curve being (i) convex: (ii) concave: and (iii) a Straight line?
3. a) What is the Law of Demand? Explain the law with the help of a diagram.
b) What is meant by the phrase "other things remaining the same" used in the Law?
c) State, if any, the exceptions to the Law of Demand.
4. a) Using formulas, distinguish between price elasticity of demand and income elasticity of demand.
b) What is the importance of the concept of price elasticity of demand in real life?
c) Estimate the price elasticity of demand when the price per unit of a product falls from Taka 5 to 3, and the quantity purchased rises from 5 to 8 units as a result.
5. a) State the distinguishing features of perfect competition and monopolistic competition, giving at least one example of a firm in each of these marketsb) How equilibrium price and output a determined by a monopoly firm? Use diagram.
6. a)What does "Production" mean in Economics?
b) Explain what is meant by 'fixed cost' and 'variable cost' and show the correct position of total cost, total fixed cost and total variable cost curves in a diagram.
7. a) What is inflation and why does it occur?
b) Account for the recent increase in the inflationary pressure in Bangladesh and find remedies.
8.a) Distinguish between balance of trade and balance of payments.
b) Following Bangladesh Bank's practice, prepare a hypothetical statement of Bangladesh's balance of payments account and explain the component elements.
9. a) How does foreign direct investment (FDI) help accelerate a country's economic development?
b) Discuss in what ways Bangladesh could attract more FDI in the country.
10. Write short notes on any four of the following:-
a) Giffen Goods; ANS
b) Cross-elasticity of demand;
c) Substitution effect of price change;
d) Gross national product at factor cost;
e) Index number;
t) Terms of trade. ANS
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