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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Economics Ics Part 1 English Medium Chapter 1 Online Test

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Question # 1

Which laws are always subjected to certain conditions.

Question # 2

Economics laws are:

Question # 3

Select the correct statement

Question # 4

According to Alfred Marshall, Economics should be taken as:

Question # 5

Economics laws are

Question # 6

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

Question # 7

One or more persons living together and having a common budget is called

Question # 8

Wealth of Nations was written in

Question # 9

Wealth of nations

Question # 10

Who was the founder of classical school of thought?

Question # 11

Economics is a science which studies.

Question # 12

Macro economics deals with

Question # 13

Ceteris paribus means

Question # 14

Marshall wrote the book

Question # 15

Market system means

Question # 16

Economic principle are also called

Question # 17

Three basic economics problems are

Question # 18

Robbins in his definition

Question # 19

Micro economics concentrates

Question # 20

The products which are not priced in the market 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 According to Alfred Marshall, Economics should be taken as:
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics
2 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
3 Scarcity means
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
4 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
5 Wealth of Nations was written by
A. Adam Smith
B. Malthus
C. Marshall
D. Newton
6 Select the correct statement
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
7 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
8 Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.
A. 1784
B. 1792
C. 1776
D. 1796
9 Marshall wrote the book
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
10 Three basic economics problems are
A. what, how and for whom
B. why, where and when
C. what, which and how much
D. what, which and why

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