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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 A positive statement
  • A. concerns what is
  • B. is always accurate
  • C. deals with values and opinions
  • D. cannot be tested in the real world
2 One of the following is not a part of macro economics.
  • A. Public finance
  • B. International trade.
  • C. Consumer behaviour.
  • D. National income.
3 Marshall wrote the book
  • A. Introduction to economics
  • B. Principles of economics
  • C. Classical economics
  • D. Micro economics theory
4 Market system means
  • A. Socialism
  • B. Capitalism
  • C. a place where goods are traded
  • D. all of the above
5 Economics problems arise because of
  • A. greed
  • B. scarcity
  • C. dishonesty
  • D. laziness
6 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
7 In economics, assumptions
  • A. make economics theory useless
  • B. mean other things equal
  • C. enable economics to simplify reality
  • D. used in micro and not in macroeconomics
8 Which laws are implemented with an executive authority .
  • A. Economic laws
  • B. Moral laws
  • C. State laws
  • D. Physical laws
9 Economics laws
  • A. must be followed
  • B. are hated by people
  • C. show economic behavior of people
  • D. are unscientific
10 Which one is the non-economic activity.
  • A. Service of a doctor
  • B. Morning walk
  • C. Service of teacher
  • D. Service of an advocate

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

B

Bano Begum

Lahore09 - May - 2024

20/20
03 Mins 13 Sec
B

Bano Begum

Lahore09 - May - 2024

20/20
03 Mins 40 Sec
B

Bano Begum

Lahore09 - May - 2024

20/20
03 Mins 40 Sec
Z

Zureen Abid

Lahore01 - May - 2024

20/20
04 Mins 10 Sec
Z

Zureen Abid

Lahore01 - May - 2024

19/20
33 Sec
P

Priya Yash

Lahore04 - May - 2024

18/20
02 Mins 32 Sec
T

Taimoor Kayani

Lahore09 - May - 2024

18/20
02 Mins 35 Sec
M

Meerabansari

Lahore28 - Mar - 2024

18/20
03 Mins 42 Sec
H

Hadi Ulhassan

Lahore13 - Mar - 2024

18/20
05 Mins 47 Sec
Z

Zaina Ch

Lahore10 - May - 2024

17/20
02 Mins 02 Sec
B

Bano Begum

Lahore09 - May - 2024

17/20
03 Mins 13 Sec
S

Shahnaz Gondal

Lahore16 - Apr - 2024

17/20
04 Mins 47 Sec
Z

Zafar Ali

Lahore22 - May - 2024

16/20
25 Sec
T

Taimoor Kayani

Lahore09 - May - 2024

16/20
02 Mins 59 Sec
Z

Zafar Ali

Lahore22 - May - 2024

16/20
03 Mins 17 Sec

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  • Afzal Rehmani

    02 Apr 2024

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  • G

    Guest User

    24 Dec 2019

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    Jarrar

    01 Jul 2018

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    Hammad Gujjar

    28 Apr 2017

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  • M

    Mir Abdulrehman

    27 Feb 2016

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