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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
Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
Question # 2
Father of the political economy
Question # 3
One of the following is not a characteristics of economic laws.
Question # 4
Ceteris paribus means
Question # 5
Economics problems arise because of
Question # 6
Who criticized economics as "dismal Science".
Question # 7
Scarcity exists
Question # 8
Which statement relates to macroeconomics
Question # 9
Who was the exponent of welfare economics.
Question # 10
Who said that "Economics is a science of human welfare"
Question # 11
Economic laws can be define as .
Question # 12
Wealth of nations
Question # 13
Economics is a science which studies.
Question # 14
Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.
Question # 15
Scarcity of goods means
Question # 16
Macro economics deals with
Question # 17
Market system means
Question # 18
Economics laws
Question # 19
Who was the exponent of macro economics in recent times.
Question # 20
All materials goods which can satisfy humans wants are called.
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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S Sikander Mughal 17 - Nov - 2024 04 Min 37 Sec 20/20 -
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 -
Z Zaina Ch 10 - May - 2024 02 Min 02 Sec 17/20 -
S Salman Malik 24 - Jul - 2024 04 Min 12 Sec 17/20 -
E Eman 19 - Jul - 2024 02 Min 36 Sec 16/20 -
N Najma Yaqoob 09 - Jan - 2025 03 Min 40 Sec 16/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 58 Sec 16/20 -
A Ahmed Palijo 11 - May - 2024 04 Min 54 Sec 16/20 -
K King Anas 21 - May - 2024 09 Min 29 Sec 16/20 -
H Hassan Raza 14 - May - 2024 02 Min 02 Sec 15/20 -
A Ainan ali 24 - Jul - 2024 02 Min 45 Sec 15/20 -
F Faiqa Shahid 20 - Jul - 2024 03 Min 24 Sec 15/20 -
R rehman khalid 30 - Jun - 2024 04 Min 02 Sec 15/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Father of the political economy |
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
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| 2 | 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
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| 3 | Who criticized economics as "dismal Science". |
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
|
| 4 | Economics is a science |
A. Spiritual
B. Social
C. dismal
D. moral
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| 5 | Which statement relates to macroeconomics |
A. Oil prices are rising in Pakistan
B. Profit rate is high in textile industry
C. The firms try to make huge profits
D. The government had failed to control inflation
|
| 6 | One or more persons living together and having a common budget is called |
A. union
B. organisation
C. household
D. house members
|
| 7 | Everyone should study economics is a |
A. positive statement
B. normative statement
C. true statement
D. nonsense
|
| 8 | Scarcity means |
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
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| 9 | Prof. Marshall thinks |
A. Economics studies national welfare
B. Economics studies personal welfare
C. Economics studies total welfare
D. Economics studies material welfare
|
| 10 | Economics laws are |
A. exact
B. approximate
C. brief
D. definite
|
Test Questions