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

Who was the exponent of welfare economics.

Question # 2

Who said that "Economics is a science of human welfare"

Question # 3

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

Question # 4

Market system means

Question # 5

Validity of economics theories can never be proved with 100 percent certainty, because

Question # 6

Scarcity means

Question # 7

In economics, assumptions

Question # 8

Select the correct statement

Question # 9

Scope of economics is defined as:

Question # 10

Micro economics concentrates

Question # 11

Prof. Marshall thinks

Question # 12

Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.

Question # 13

Marshall wrote the book

Question # 14

The products which are not priced in the market are called .

Question # 15

Wealth of Nations was written by

Question # 16

Economics theory means

Question # 17

Economics problems arise because of

Question # 18

Macro economics deals with

Question # 19

Economics is a science which studies.

Question # 20

Three basic economics problems are

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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 theory means
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
2 Which statement is true?
A. Economics is a physical and normative science
B. Economics is a social and natural science
C. Economics is physical and positive science
D. Economics is a social and normative science
3 Wants are unlimited for:
A. Poor person
B. Rich person
C. All persons
D. None of them
4 Robbins definition of economics spell out the existence of
A. Economics problem
B. Social problem
C. Political problem
D. Moral problem
5 Economic laws can be define as .
A. A statement of social behaviour
B. Laws implement by an executive
C. Laws of the state
D. Statement of general economic tendencies
6 According to Alfred Marshall, Economics should be taken as:
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics
7 Everyone should study economics is a
A. positive statement
B. normative statement
C. true statement
D. nonsense
8 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
9 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
10 Wealth of Nations was written by
A. Adam Smith
B. Malthus
C. Marshall
D. Newton

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