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

Market system means

Question # 2

Scarcity means

Question # 3

Economic problems arises because of.

Question # 4

Three basic economics problems are

Question # 5

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

Question # 6

Prof. Marshall thinks

Question # 7

Father of the political economy

Question # 8

Scarcity exists

Question # 9

Which of the following is the subject matter of Economics.

Question # 10

Economics theory means

Question # 11

Marshall is his definition of economics

Question # 12

Which statement is true?

Question # 13

A positive statement

Question # 14

All non materials products which can satisfy human wants are called.

Question # 15

One of the following is not studied in Micro economics.

Question # 16

Economics laws are

Question # 17

Basic economic problem is

Question # 18

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

Question # 19

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

Question # 20

Robbins definition of economics spell out the existence of

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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 One of the following is not a part of macro economics.
A. Public finance
B. International trade.
C. Consumer behaviour.
D. National income.
3 Select the correct statement
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
4 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
5 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
6 Market system means
A. Socialism
B. Capitalism
C. a place where goods are traded
D. all of the above
7 All materials goods which can satisfy humans wants are called.
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
8 He described economics as a science of material welfare
A. Robbins
B. Marshall
C. Ricardo
D. Keyness
9 Who criticized economics as "dismal Science".
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
10 Economics is a science
A. Spiritual
B. Social
C. dismal
D. moral

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