First Year Principles of Economics Chapter 1 Online MCQ Test for 1st Year Principles of Economics Chapter 1 (Definition of Economics)

This online test contains MCQs about following topics:

. Economics is a Science of wealth . Economics is a Science of Material Welfare . Economics is a Science of Scarcity and Choice . Coparison of the definitions of Marshall and Robbins . Scope of Economics . Subject matter of economics . Individual or collective behaviour . Question of likes or diklikes of wants| . Economics Law

ICOM Part 1 Economics Ch 1 Test
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MCQ's Test For Chapter 1 "Principles of Economics Icom Part 1 English Medium Chapter 1 Online Test"

Try The MCQ's Test For Chapter 1 "Principles of Economics Icom Part 1 English Medium Chapter 1 Online Test"

  • Total Questions15

  • Time Allowed20

Principles of Economics Icom Part 1 English Medium Chapter 1 Online Test

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Question # 1

Who did write the book named "Nature and importance of economics"

Question # 2

Who did name economics as science of satisfying unlimited wants with limited means

Question # 3

Points of Robbins definition are

Question # 4

The conditions which are essentially kept constant for the application of economic laws, are called

Question # 5

Who did write the book named "An enquiry into the nature and causes of the wealth of nations"

Question # 6

Founder of new classical school of thought was

Question # 7

Economics according to its scope is:

Question # 8

Founder of neo-classical school of thought:

Question # 9

Which statement is called subject matter of economics

Question # 10

According to Marshall, Economics is

Question # 11

Inductive method represents:

Question # 12

To derive economic laws deductive method was adopted by

Question # 13

Who did criticise the definition of Robbins

Question # 14

"The nature of significance economics sciences" was written in:

Question # 15

Marshall belonged to the country

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11th Principle of Economics Chapter 1 Test

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ICom Part 1 Principles of Economics ( English Medium) Chapter 1 Important MCQ's

Sr.# Question Answer
1 Who said that you can not become good citizen if you have no economist with you
A. Marshall
B. Pigou
C. Keynes
D. Voton
2 In how many parts professor Adam smith divided his book "Wealth of nations"
A. Two
B. Three
C. Four
D. Five
3 Which is not studied in macro economics
A. National income
B. Money and banking
C. Price theory
D. Public finance
4 Which characteristic is not found in economic laws
A. Not quantitative
B. Cannot be predicted
C. No punishment in case of going against law
D. Definite and universal
5 When was professor Robbins book "Nature and importance of economics" written
A. 1915
B. 1932
C. 1934
D. 1937
6 Founder of modern school of thought:
A. Adam smith
B. Marshall
C. Ricardo
D. Robbins
7 Which economist introduced economics as a science for the first time
A. Adam Smith
B. Robbins
C. Marshall
D. Pigou
8 Who is father of economics
A. Marshall
B. Malthus
C. Adam smith
D. Cannon
9 Economics studies human behaviour from
A. Individual angle
B. Collective angle
C. Individual & Collective angle
D. None
10 Which economist is called Aristotal of economics
A. Marshall
B. Keynes
C. Adam Smith
D. Malthus

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