Hi Rahul,
First, your selected value variable should be an identifier of your static entity:

Then you do a query on the static entity you want:

And then you bind the query to the dropdown widget:

OML in attachment.
Given that you are starting with OutSystems, I suggest you watching and learning through Guided Paths so you can be more efficient on using the platform. For example, you might want to take a look at this course of a demo on how to use the dropdown widget.
Hope it helps.
Regards,
João