Bangladesh Economy & Industry Basics: questions and answers
Study every question with its correct answer and explanation.
1. In which year was the taka introduced as the currency of Bangladesh?
- A. 1971
- B. 1973
- C. 1972
- D. 1974
Answer: 1972
The taka was introduced on 4 March 1972, replacing the Pakistani rupee. Its symbol is ৳, and one taka is divided into 100 poisha.
2. Bangladesh Bank, the central bank, was established under the Bangladesh Bank Order 1972 with effect from which date?
- A. 16 December 1971
- B. 26 March 1971
- C. 4 March 1972
- D. 1 July 1972
Answer: 16 December 1971
Bangladesh Bank was set up under the Bangladesh Bank Order 1972 (President's Order No. 127), with effect from 16 December 1971. It took over the functions of the Dhaka branch of the State Bank of Pakistan, and its head office is in Motijheel, Dhaka.
3. Which crop is traditionally called the 'golden fibre' of Bangladesh?
- A. Cotton
- B. Jute
- C. Silk
- D. Tea
Answer: Jute
Jute earned the name 'golden fibre' for its golden colour and its importance as a cash crop and export earner. Adamjee Jute Mills in Narayanganj, once among the largest jute mills in the world, closed in 2002.
4. Which sector has for decades been Bangladesh's largest source of export earnings?
- A. Jute goods
- B. Leather
- C. Tea
- D. Ready-made garments
Answer: Ready-made garments
The ready-made garment (RMG) industry, which grew rapidly from the late 1970s and 1980s, has long been Bangladesh's biggest export earner. Desh Garments, set up in 1978 in partnership with South Korea's Daewoo, is widely seen as a pioneer of the export-oriented garment industry.
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5. In which year was the Chittagong Stock Exchange, Bangladesh's second stock exchange, established?
- A. 1995
- B. 1954
- C. 1976
- D. 2005
Answer: 1995
The Chittagong Stock Exchange was established in 1995 in Chattogram. The older Dhaka Stock Exchange traces its origins to 1954, when it was founded as the East Pakistan Stock Exchange Association.
6. Where was Bangladesh's first Export Processing Zone (EPZ) set up?
- A. Savar
- B. Mongla
- C. Chattogram
- D. Ishwardi
Answer: Chattogram
Chattogram EPZ, the country's first, began operating in the early 1980s under the Bangladesh Export Processing Zones Authority (BEPZA), which was created in 1980. EPZs offer investors ready infrastructure and incentives to manufacture goods for export.
7. Which Bangladeshi institution shared the 2006 Nobel Peace Prize with its founder, Muhammad Yunus?
- A. BRAC
- B. Palli Karma-Sahayak Foundation
- C. ASA
- D. Grameen Bank
Answer: Grameen Bank
Grameen Bank and Muhammad Yunus jointly received the 2006 Nobel Peace Prize for their efforts to create economic and social development from below through microcredit. Grameen Bank grew out of a project Yunus started in 1976 in Jobra, a village near the University of Chittagong.
8. Where was the first natural gas field in present-day Bangladesh discovered, in 1955?
- A. Titas
- B. Haripur, Sylhet
- C. Bakhrabad
- D. Kailashtila
Answer: Haripur, Sylhet
Natural gas was first discovered at Haripur in Sylhet in 1955. Since then natural gas has been a key fuel for Bangladesh's power stations and fertiliser factories.
9. The Barapukuria mine in Dinajpur district produces which mineral?
- A. Granite
- B. Limestone
- C. Coal
- D. Natural gas
Answer: Coal
Barapukuria is Bangladesh's first underground coal mine, and most of its coal feeds the power plant built beside it. Also in Dinajpur, the Maddhapara mine produces hard rock (granite) used in construction.
10. Which is the second seaport of Bangladesh, which began operating in 1950?
- A. Mongla
- B. Payra
- C. Chattogram
- D. Teknaf
Answer: Mongla
The port began operating in 1950 at Chalna and was later moved to Mongla on the Pasur river in Bagerhat district. Chattogram is the country's principal seaport and handles most of Bangladesh's sea trade.