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1st Chapter

ICS Part 1 Economics Chapter 1 MCQs Test

First Year Economics Chapter 1 Online MCQ Test for 1st Year Economics Chapter 1 (Nature and Scope)

This online test contains MCQs about following topics:

Human Wants,Utility,Scarcity,Defination By Adam Smith,Marshall and Robbins,Modern View of Economics ,Comparison of Defination , Methods of Economics ,Economics Theory, Economic Principle ,Policy Economics , Micro Vs Macroeconomics ,Economics Laws Deductive and Inductive Methods

First Year Economics Chapter 1 Online MCQ Test for 1st Year Economics Chapter 1 (Nature and Scope)

Sr. # Questions Answers Choice
1 Economics laws are
  • A. exact
  • B. approximate
  • C. brief
  • D. definite
2 Scope of economics is defined as:
  • A. Individual and aggregate economic behaviour of the people.
  • B. Subject matter of economics.
  • C. Welfare Economics.
  • D. All of the abpove
3 Wants are unlimited for:
  • A. Poor person
  • B. Rich person
  • C. All persons
  • D. None of them
4 Marshall wrote the book
  • A. Introduction to economics
  • B. Principles of economics
  • C. Classical economics
  • D. Micro economics theory
5 The products which are not priced in the market are called .
  • A. Economic goods
  • B. Non-economic goods
  • C. Merit goods
  • D. Social goods
6 Which type of problems are brought under discussion in micro economics .
  • A. Consumer's behaviour
  • B. International trade
  • C. Balance of payment
  • D. Public finance
7 Who criticized economics as "dismal Science".
  • A. Alfred Marshall
  • B. Lionel Robbins
  • C. Carlyle and Ruskin
  • D. J.M. Keynes.
8 All materials goods which can satisfy humans wants are called.
  • A. Non economic goods
  • B. Economic goods
  • C. Capital goods
  • D. Services
9 Scarcity exists
  • A. in only poor countries
  • B. in a country that uses resources inefficiently
  • C. in all countries of the world
  • D. when society produces unimportant goods
10 Economics is a science which studies.
  • A. Distribution of income
  • B. Optimum use of scarce resources.
  • C. Production of wealth only
  • D. Exchange of wealth only

Top Scorers of Economics Ics Part 1 English Medium Chapter 1 Online Test

N

Noor

Lahore26 - Jun - 2022

20/20
02 Mins 18 Sec
N

Noor

Lahore26 - Jun - 2022

18/20
02 Mins 18 Sec
H

Hanif Wazir

Lahore30 - May - 2022

17/20
06 Mins 19 Sec
H

Hamza Abid

Abbottabad21 - May - 2022

17/20
10 Mins 50 Sec
B

Binte Fazal

Lahore29 - May - 2022

16/20
02 Mins 41 Sec
B

Binte Fazal

Lahore29 - May - 2022

16/20
02 Mins 58 Sec
M

Maria Habib

Lahore15 - May - 2022

16/20
03 Mins 52 Sec
K

Kato C

Lahore27 - May - 2022

16/20
04 Mins 21 Sec
T

Tajammul Hussain

Lahore22 - May - 2022

16/20
05 Mins 38 Sec
R

Rutaba Khan

Lahore15 - May - 2022

15/20
02 Mins 12 Sec
S

Shanzay Maqsood

Lahore16 - Jun - 2022

15/20
03 Mins 31 Sec
W

Wajih 786

Lahore24 - May - 2022

15/20
06 Mins 07 Sec
H

Hamza Abid

Abbottabad15 - May - 2022

15/20
10 Mins 50 Sec
H

Hamza Abid

Abbottabad20 - Jul - 2022

15/20
10 Mins 50 Sec
I

Iqra Tariq 3804-FE/BSECO/F20

Lahore15 - Jun - 2022

14/20
05 Mins 01 Sec

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