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

ICS Part 1 Economics Chapter 1 Test

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ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test"

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  • Total Questions20

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Economics Ics Part 1 English Medium Chapter 1 Online Test

00:00
Question # 1

In which year Alfred Marshall wrote a book entitled "Principle of economics"

Question # 2

Everyone should study economics is a

Question # 3

Scarcity of goods means

Question # 4

The basic economic problem to all societies is

Question # 5

normative economics

Question # 6

Who was the exponent of macro economics in recent times.

Question # 7

Select the correct statement

Question # 8

Economics laws are

Question # 9

Economic problems arises because of.

Question # 10

Marshall is his definition of economics

Question # 11

Which laws are implemented with an executive authority .

Question # 12

Economics

Question # 13

Adam smith was a

Question # 14

Prof. Robins wrote a book in 1931 entitled.

Question # 15

One of the following is not a characteristics of economic laws.

Question # 16

Economic laws can be define as .

Question # 17

One of the following is not studied in Micro economics.

Question # 18

Scarcity means

Question # 19

Wealth of Nations was written by

Question # 20

All materials goods which can satisfy humans wants are called.

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ICS Part 1 Economics Chapter 1 MCQs Test

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ICS Part 1 Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 Economics problems arise because of
A. greed
B. scarcity
C. dishonesty
D. laziness
2 Economics laws are
A. exact
B. approximate
C. brief
D. definite
3 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
4 Scarcity of goods means
A. non availability of goods
B. high price of goods
C. People don't want to get such goods
D. the good is available but it is not free
5 Wealth of nations
A. is another name for united nations
B. is name of a book
C. indicates total wealth of rich countries
D. contains formulas to earn wealth
6 Economics
A. is more important than mathematics
B. is a social science
C. should be made compulsory for every student
D. is difficult to study
7 In which year Alfred Marshall wrote a book entitled "Principle of economics"
A. 1850
B. 190
C. 1870
D. 1890
8 According to Alfred Marshall, Economics should be taken as:
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics
9 Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
A. 1776
B. 1998
C. 1931
D. 1936
10 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

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