Latest Post

HSC Sociology (Somaj Biggan) Second Paper Model Test Question Paper.

HSC Sociology (Somaj Biggan) Second Paper Model Test Question Paper. HSC Sociology Somaj Biggan Model Test Question Paper is given by Abul Kalam Al Mahmud, Lecturer, Amrito Lal Dey Moha Biddhaloy, Borishal.HSC Sociology Model Test For Dhaka, Chittagong, Khulna, Rangpur, Borishal, Comilla, Sylhet, Rajshahi Board.

HSC Sociology Somaj Biggan Model Test Question Paper is given by Abul Kalam Al Mahmud, Lecturer, Amrito Lal Dey Moha Biddhaloy, Borishal.HSC Sociology Model Test For Dhaka, Chittagong, Khulna, Rangpur, Borishal, Comilla, Sylhet, Rajshahi Board.
Read More

HSC Accounting Model Test For All Board.

HSC Accounting Model Test For All Board. HSC Accounting Model Test is given by Md. Hanif Chowdhury, Lecturer, National Ideal College, Khilgaon Dhaka.HSC Accounting Model Test For Dhaka, Chittagong, Khulna, Rangpur, Borishal, Comilla, Sylhet, Rajshahi Board.

HSC Accounting Model Test give by Md. Hanif Chowdhury, Lecturer, National Ideal College, Khilgaon Dhaka.HSC Accounting Model Test For Dhaka, Chittagong, Khulna, Rangpur, Borishal, Comilla, Sylhet, Rajshahi Board.
Read More

Discuss the Importance of Multiplicity of Wants and Scarcity of Resources in the Study of Economics.

Explain the terms “Want” and “Scarcity” as understood in Economics. Discuss the importance of the multiplicity of wants and shortage of resources in the study of Economics.

Want
Often thought of as a psychological desire which makes life just a little more enjoyable, but which’s not physiologically necessary to live. You need oxygen, but you want a hot fudge sundae. Satisfaction achieved by fulfilling wants. The terms want, and desire is used to mean the same thing. But in economics want leads to the desire which is backed by the ability and willingness to satisfy it. A mere desire for anything does not become a want unless the person can fulfill it and is willing to apply this capability for satisfying the desire. Therefore, human wants may be defined as sufficient desires for particular things which express themselves in the efforts or sacrifices necessary to obtain them. There are four essential elements of human wants.

  • The scarcity of items
  • The desire to get the scarce items
  • Sufficient amount of money to satisfy the want.
  • v. Willingness to spend the money to get the expected things.
  • Human wants are unlimited, varied and diverse. They encourage people to undertake economic activity.

Satisfaction of wants through production and exchange of goods and services is the fundamental aim of business.Wants may classify into two broad categories.
  • Primary or necessary desires, e.g., food, clothing and shelter which are common to all persons; and
  • Secondary or non‐basic wants, e.g., education, traveling, etc., which differ from person to person. A person first of all tries to satisfy his primary wants at all costs.

Satisfied as and when the essential supplies become available.

Scarcity
An economic principle in which a limited amount of real, united with a high need for that good, results in a mismatch between the desired supply and demand equilibrium. In pricing theory, the scarcity principle suggests that the price for a scarce commodity should rise until equilibrium reached Between supply and demand. However, this would result in the restricted exclusion of the real only to those who can afford it. If the scarce resource happens to be grain, for example, individuals will not be able to attain their basic needs. When a product is scarce, consumers are faced with conducting their Cost-benefit analysis, since a product in high demand but low supply will likely be expensive. These means that the user should only take action and purchase the product if he or she sees a greater benefit from having the product than the cost associated with obtaining it.

Importance of multiplicity of demands and scarcity of resources in the study of Economics:
Economic problem, in essence, is issues of lack of resources in comparison with human wants. In everyday life, we encounter many financial difficulties, poverty, unemployment, inflation, etc., but if we start analyzing them, we will find that every problem has it's rooted in the fundamental problem of scarcity of resources.Poverty forces choices in consumption and production of goods. Poverty creates conflicts. Poverty means that not everybody is getting everything he wants, and there will be losers and winners. The debt arises because of two underlying conditions: Physical condition, that is, limited productive resources and a mental state that is unlimited wants. Physical limits do not alone establish scarcity in an economic sense. It is the human desires which make funds insufficient. Wants are unlimited; people want much more than just necessities. So the bitter fact is an economic problem is permanent.
Read More

Final Suggestion of Economics for JAIBB Exam.

Final Suggestion of Economics for JAIBB. The Institute of Bankers Bangladesh takes the Jaibb Exams. Here I give the last suggestion for Jaibb Exam.

1. What are the primary goals of macroeconomics?
2. Why does Government borrow?
3. Compare the Definition of Economics offered by Adam Smith and Leonel Robins.
OR
"Economics is a science, which studied human behavior as a relationship between ends and scarce mean, which have alternative uses." - L Robins. Discuss the definition.
OR
"Economics is the science of Wealth" Discuss.
4. "Economics is study of mankind in the ordinary business of life" - Discuss the statement
5. What is unemployment and what its type?
6. What do you mean by a return to scale?
7. Suggest remedies for unemployment in Bangladesh.
8. Explain the difference between 'positive economics' and 'normative economics.'
9. Discuss the subject matter of economics.
10. Define the terms “Want” and “Scarcity” as understood in Economics. Explain the importance of a multiplicity of wants and scarcity of resources in the study of Economics.
11. Is high per capital income is the only measure for economic development?
12. Distinguish between the balance of trade and balance of payment. Discuss the principal items in Bangladesh balance of payments account prepared and published periodically by its central bank.
13. What is money? Discuss the function of money. State and explain the component of money supply in Bangladesh.
14. Critically discuss livings fisher’s “Quantity theory of money ”
15. What is an iso-product curve (isoquant) and what are its properties. Define and draw an isocost curve. Difference between indifference curve and iso-product curve

16. What are the main characteristic/principal features of perfect competition?
17. Why does a demand curve usually slope down to the right? If demand increases both
equilibrium price and quantity increases again supply raises equilibrium price, and quantity
decrease explains the statement using the diagram.
18. What do you mean by a return to scale? Distinguish among increasing “return to scale”, “constant return to scale” and “decreasing return to scale” using a diagram.
19. What is meant by production function?
20. Distinguish between Gross national product and Net national product. What is meant by a problem the double counting in the measurement of national income? How can the double counting problem avoid?
21. Price elasticity of demand when the price per unit of a product falls from Taka 5 to Taka 3, and the quantity purchased rises from 5 to 8 units as a result.
22. Can monetary policy alone control inflation?
23. What do you understand by the law of demand and the law of supply?
24. Describe a production indifference curve and its properties? Use diagram
25. Compare the distinguishing features of the different form of the market structure, viz., perfect competition, monopoly, monopolistic competition and oligopoly.

26. What factors according to you influence a country's economic growth?
27. Show the help of diagram how price/output is determined in monopoly. What is the characteristic of monopoly? In the monopoly there is no supply curve, describe.
28. What should be the goals of monetary policy in developing country?
29. How does foreign direct investment (FDI) help accelerate countries economic development?
30. What should be the objective of monetary policy for a developing country like Bangladesh?
31. The state with the help of diagrams differences between infinitely elastic demand and infinitely inelastic demand.

32. Explain the indifference of monetary policy and fiscal policy.
33. What are the characteristics of Monopoly and illustrate how the price is determined in a monopoly market?
34. What are the methods of computing Gross domestic product of a country?
35. Distinguish between fixed and flexible exchange rates, stating the merits and demerits of each.
36. Critically discuss the importance of Small & Medium Enterprise (SMEs) in Bangladesh?
37. Elaborate on the fundamental economic questions of 'what’,’ how' and 'for whom'. Give specific examples of these questions on the use of a country's limited resources.

38. What are the main functions of a commercial bank?
39. How does monopoly hurt the interest of common consumers?
40. Distinguish between price elasticity of demand and income elasticity of demand.
41. How do banks contribute to expediting the country's economic development?
42. Present arguments for welcoming foreign aid to Bangladesh (Book Page-123)
43. Discuss the causes and consequences of inflation.
44. Suggest appropriate measures for controlling inflation?
45. In what ways commercial banks in Bangladesh can help accelerate the country's economic development?
46. What problem encountered calculating GDP State the problem in details?
47. Why is Economics central to an understanding of the problems of development?
48. Does Education promote Economic development and How?
49. Does education lead to the brain drain from developing countries? Why?
50. Critically discuss the importance of Small & Medium Enterprise (SMEs) in Bangladesh?
51. Briefly, discuss the" Financial Inclusion" measure recently taken by Bangladesh Bank?
52. What is fiscal policy and what are its ingredients.
53. The present argument FOR and AGAINST deficit financing in Bangladesh?
54. Why is it important for Banker to know the basic principle of Economics?
55. State what is meant by-
(i) income elasticity of Demand; and (ii) cross elasticity of Demand
56. Explain the relationship between (i) Economics & Political Science (ii) Economics & Statistics
57. Discuss measures considered necessary for correcting the balance of payments deficits.
58. Show with the help of a diagram how equilibrium price changes as a result of changes in demand and supply.

Give your opinion about this suggestion in the comment box below--->
Read More

Suggest Remedies for Unemployment in Bangladesh.

The responsibility of the state. The Constitutional of Bangladesh has the “Directive Principles” of the State and enjoined this duty on the State Government. In Society we have now seen that there is a good deal of unemployment. This removal of unemployment is necessary for the prosperity of the nation. For this, the subsequent steps have to be taken:

Improvement in the agricultural system 
We have already seen that the farming system in Bangladesh is backward and underdeveloped. This backwardness is liable for a lot of unemployment. If the unemployment has to removed, the method of agriculture has to be improved and improved, for this the following measures to be taken:

a) Holding should be consolidated and made economic.

b) Methods of agriculture should change and as far as possible farmers should be freed from dependence on nature.

c) System of crops should be planned accurately and improved. If more plants earned they would provide more employment.

d) The producers should give with good seed, good fertilizer, healthy animals, modern implements and tools etc.

Adequate combination of facilities of irrigation 
In villages the agriculture very much depends on nature. If rains fail, the crops are destroyed. Methods of irrigation should be made more modern. They should also be adequate so that it may be possible for people to water their fields.

Increasing the area of cultivable land
Today in the villages, there is considerable pressure on land. The area under cultivation is not sufficient to provide food to all the people of this country. Barren land should be broken and made fertile. Other methods should also make for improving the area of cultivable land which is not fit for agriculture, also developed and made appropriate.

Setting up and develop the cottage and village industries
In village, people have seasonal employment in agriculture. Apart from it all the persons do not have avenues for the employment. What is needed is to set up of industries so that those who do not have land are employed in it. Apart from it, the agriculturalists during dull season should get employment in these sectors. Women and landless laborers shall also be able to get employment if industries are set up.

Improving the means of transport and communication
In villages there is need to have proper roads and places where offices and stores for seeds etc, .may be set up. Public construction should be undertaken in the villages to provide employment to the idle hands. This would improve the employment position in the community. Apart from it, it would also add to the prosperity of the communities.

Construction of public Transports, Roads etc. 
This would have two-fold advantages. Firstly, the village people shall be able to send their products to markets for sale and secondly, they shall also be able to go to such other places where they can get employment. Apart from it, this would also provide employment to many persons who shall engage themselves in the task of transporting these people.

Organization of the agricultural market
There is need to organize markets for the agricultural product. At present, there is dearth of such market. This situation creates difficulties for the agriculturalists. On the one hand, they are not able to get proper price and on the contrary, they have to suffer from other handicaps. If markets are organized, they would provide employment to individual hands and also help the agriculturalists to get proper price for their labor.

In fact, Bangladesh is such a vast country, and unemployment is so large that “Herculean” efforts shall have to be made to surmount this degree. Various economists and social thinkers have suggested different ways for it. Many of these ways have also incorporated in the Five Year Plans. In spite of these Five-Year, Plans employment position is far from satisfactory.
Read More
আপনার প্রয়জনীয় তথ্যের জন্য কমেন্ট বক্সে কমেন্ট করে আমাদের জানান।
If you need any information please comment in the comment box below.