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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
MCQ's Test For Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test"
Try The 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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Time Allowed30
Economics Ics Part 1 English Medium Chapter 1 Online Test
00:00
Question # 1
Marshall is his definition of economics
Question # 2
Validity of economics theories can never be proved with 100 percent certainty, because
Question # 3
Everyone should study economics is a
Question # 4
Prof. Marshall thinks
Question # 5
Economics problems arise because of
Question # 6
Who was the exponent of macro economics in recent times.
Question # 7
Who said that "Economics is a science of human welfare"
Question # 8
Which of the following is the subject matter of Economics.
Question # 9
Which type of problems are brought under discussion in micro economics .
Question # 10
Adam smith was a
Question # 11
A positive statement
Question # 12
Robbins in his definition
Question # 13
Basic economic problem is
Question # 14
Wealth of Nations was written by
Question # 15
One or more persons living together and having a common budget is called
Question # 16
Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.
Question # 17
In economics, assumptions
Question # 18
Who criticized economics as "dismal Science".
Question # 19
Which one is the non-economic activity.
Question # 20
Scarcity of goods means
ICS Part 1 Economics Chapter 1 MCQs Test
Top Scorers Of Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test" MCQ`s Test
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L Laiba Muqaddas 25 - Jul - 2024 04 Min 48 Sec 20/20 -
Z Zafar Ali 22 - May - 2024 00 Min 10 Sec 19/20 -
A Ali Jutt 31 - May - 2024 05 Min 02 Sec 18/20 -
S Salman Malik 24 - Jul - 2024 04 Min 12 Sec 17/20 -
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Q Qazi Mohid 09 - Jun - 2026 06 Min 25 Sec 15/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | He described economics as a science of material welfare |
A. Robbins
B. Marshall
C. Ricardo
D. Keyness
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| 2 | The basic economic problem to all societies is |
A. elimination of scarcity
B. what how and for whom to produce
C. equal distribution of wealth
D. to develop agriculture
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| 3 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | Validity of economics theories can never be proved with 100 percent certainty, because |
A. ceteris paribus clause
B. limited number of observation is possible
C. very large number of economic theories proved false in the past
D. b and c
|
| 7 | Macro economics deals with |
A. how to buy groceries
B. aggregate economics activity
C. establishment of a new firm
D. industrial activity
|
| 8 | Economic principle are also called |
A. economic law
B. economic theory
C. economic model
D. all of the above
|
| 9 | One of the following is not studied in Micro economics. |
A. Equilibrium to the firm
B. Distribution of rewards to factors of productions
C. Banking system
D. Market equilibrium
|
| 10 | Economics theory means |
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
|
Test Questions