Bangladesh and Global Studies - Chapter 12 (The economic Indicators and the nature of the Economy of Bangladesh)

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The total income of the country is spent in how many ways?

Two ways

Into how many types spenders can be classified?

Three

What are the classifications of spenders?

1. The government of the country

2. The government and non-government organizations

3. Th people

How to get the GNP from goods and services?

The amount of total production of each commodity and each service is to b multiplied with their market price.

How to get GNP from taking the earned income of the factors of production?

The summation of total income of the factors of production is found.

What are the four factors of production?

Land, labour, capital and organization.

What are the incomes of four factors of production?

Rent, wages interest and profit.

GNP

is the summation of the financial values of the amount of the ultimate goods and services produced by the people of any country in a specific period, generally in one year.

GDP

is the summation of the financial values of the goods and services produced at the final phase in a specific time period, generally in one year by all the people residing inside in any country or within its geographical boundary.

The current annual per capita income is ________.

2064 USD

How many sectors the economy of any country of the world is divided into?

Three

How many wider sectors the 15 economic sectors of Bangladesh can be divided into?

Five

Which sectors are included in agriculture sector?

• Agriculture and forestry,

• the resource of fishery.

Which sectors are included in industry sector?

• Industry,

• minerals and excavation,

• electricity,

• gas and water resources,

• and construction.

Which sectors are included in service sector?

• Hotel and restaurant,

• transport,

• preservation and

• communication.

Which sectors are included in ‘social service’ sector?

• Public administration and defense,

• education,

• health and social service,

• community social and personal service.

Which sectors are included in business sector?

• Wholesale and retail trade

• Real estate and other business

Share of agriculture and forest sector in GDP _______.

11.12 %

Share of Fishery resource sector in GDP _______.

3.61%

Share of mineral and excavation sector in GDP _______.

1.80 %

Share of industry sector in GDP _______.

21.74% (The highest)

Share of electricity, gas and water resource sector in GDP _______.

1.52%

Share of whole sale and retail trade sector in GDP _______.

14.01%

Share of Transport, preservation and communication sector in GDP _______.

11.26%

Share of service of financial organization sector in GDP _______.

3.45%

Share of Real estate and other business sector in GDP _______.

6.49%

Share of education sector in GDP _______.

2.48%

Share of health and social service sector in GDP _______.

1.85%

Share of hotel and restaurant sector in GDP _______.

0.75%

What is the main indicator of economic development of any country?

per capita income

Economic profile of USA

GNI (bill $) - 58,270

Pp (mil) - 326.8

PCGNI - 59,531.60 $

Economic profile of Canada

GNI (bill $) - 42,870

Pp (mil) - 37

PCGNI - 45,032.10 $

Economic profile of UK

GNI (bill $) - 40,530

Pp (mil) - 66.60

PCGNI - 39,720 $

Economic profile of Norway (the highest GNI + PCGNI)

GNI (bill $) - 75,990

Pp (mil) - 5.40

PCGNI - 75,504.50 $

Japan (Lowest among the higher income country tier)

GNI (bill $) - 38,550

Pp (mil) - 127.20

PCGNI - 38,428.10 $

Economic profile of China

GNI (bill $) - 8690

Pp (mil) - 1415

PCGNI - 8827 $

Turkey (Highest among the middle income countries)

GNI (bill $) - 10,940

Pp (mil) - 81.90

PCGNI - 10,541 $

Economic profile of India

GNI (bill $) - 1800

Pp (mil) - 1354

PCGNI - 1940 $

Economic Profile Cambodia \((>ω< ))/

GNI (bill $) - 1230

Pp (mil) - 16.20

PCGNI - 1384$

Economic profile Uganda (Lowest Income country)

GNI (bill $) - 600

Pp (mil) - 44.3

PCGNI - 604 $

Indicators of development of a country

1) Whether the country is agriculture oriented or industrialized.

2) Rate of literacy or education

3) Availability of health service to the people

4) Whether the economic infrastructure has undergone upward development or not

5) Whether transport and communication facility -

and the rate of capital formation and investment are in upward trend.

World bank divided the countries into how many divisions based on per capita gross national income?

Three

Range of upper middle income -

3976 - 12275 USD

range of lower middle income -

1006 - 3975 USD

What percent of manpower of Bangladesh is engaged in agricultural sector?

40.60%

Since the very ancient time to the present time,

the economy of Bangladesh has been counted as agriculture based economy.

Current per capita income of Bangladesh (2019-2020)

2064 USD

About the nature of agriculture sector

• Agriculture sector is a main and important sector in the economy of Bangladesh.

• It is like the foundation of economy of Bangladesh.

Limitations of agriculture sector

Limitations

• Process of agricultural production has not yet become fully modern.

• Major portion of land in cultivated in traditional method

• Dependent on nature

• Not possible to give right amount of wages to the labors and farmers.

• Inadequacy of transport and market

What was the contribution of Agriculture sector in GDP in the fiscal year 2016-2017?

15%

What is one of the main produced goods in agricultural sectors?

Food grains.

What was the production of food grain in 2009-10 year? (Lakh Metric Ton)

341.13

What was the production of food grains in 2011-12 year? (Lakh Metric Ton)

348.85

What was the production of food grain in year 2016-2017? (lakh Metric Ton)

386.96

What was the contribution of wider Industrial sector in GDP 2016-2017 fiscal year?

33.66%

What was the contribution of wider Industrial sector in GDP 1980-1981 fiscal year?

17.31%

What kind of industries are required to accelerate economical development?

Basic and heavy industries.

Which one are basic and heavy industries? (test yourself)

1. Fertilizer industry

2. Leather industry

3. Iron and steel industry

4. Jute and textile industries

5. Electricity generation industries

6. Fuel industry.

Answer: 3,5 and 6.

What is one of the main characteristics of the economy of Bangladesh?

Over population.

What was the rate of population growth in 1991?

2.17%

What was the rate of population growth in 2001?

1.48%

What percent of population is below the poverty line?

24.8%

What is the per capita income of Sri Lanka?

4073.74 USD

What is the per capita income of India?

1942.10 USD

What is the rate of savings of the people of Bangladesh?

22.83%

What is the rate of capital formation/investment of the people of Bangladesh?

27.42%

In how many types infrastructure can be divided into?

Two

The ______ ______ is like the foundation of economic development.

Socio-economic infrastructure.

What are the special main problems of the economy of Bangladesh?

Over population, low rate of education and unemployment.

What is the main cause of economic backwardness of Bangladesh?

around 2 hundred years of colonial rule.

Obstacles in agriculture-

i. Decrease in agricultural land and lack of application of advanced agricultural method.

ii. Lack of accessibility to agricultural loans and credits.

iii. Infrastructural weakness.

iv. Domination of brokers and middle mans.

v. Natural calamities.

What is the biggest obstacle to agricultural development?

Infrastructural weakness.

Obstacles in industry-

i ) Inadequate basic and heavy industries.
ii) Weakness to financial infrastructure.

iii) Inadequate bank-loan and credits facility.

iv) Instable socio-political situation.