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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
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Question # 1
Marshall is his definition of economics
Question # 2
Which of the following is the subject matter of Economics.
Question # 3
Prof. Marshall thinks
Question # 4
Which one is not doing an economic activity.
Question # 5
Economics laws are:
Question # 6
Which statement is true?
Question # 7
The products which are not priced in the market are called .
Question # 8
Economic laws can be define as .
Question # 9
Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
Question # 10
Scarcity of goods means
Question # 11
Everyone should study economics is a
Question # 12
Which type of problems are brought under discussion in micro economics .
Question # 13
According to Alfred Marshall, Economics should be taken as:
Question # 14
Economic problems arises because of.
Question # 15
Basic economic problem is
Question # 16
One of the following is not studied in Micro economics.
Question # 17
Market system means
Question # 18
Economics
Question # 19
Which laws are implemented with an executive authority .
Question # 20
Prof. Robins wrote a book in 1931 entitled.
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 -
S Salman Malik 24 - Jul - 2024 04 Min 12 Sec 17/20 -
E Eman 19 - Jul - 2024 02 Min 36 Sec 16/20 -
A Abdullah Safdar 23 - Jun - 2026 02 Min 44 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 -
K King Anas 21 - May - 2024 09 Min 29 Sec 16/20 -
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 -
A Aiman Sadaqet 30 - Apr - 2026 04 Min 32 Sec 15/20 -
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 | One of the following is not a characteristics of economic laws. |
A. Economic laws lack exactitude
B. Economic laws lack predictability
C. They are not universa!
D. They are not optional
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| 2 | The products which are not priced in the market are called . |
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
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| 3 | Economics laws are: |
A. Statements of tendencies in economic behaviour
B. Unrealistic to deal with real economic problems.
C. Absolute and certain like the laws of physical science
D. Used to forecast the growth rate of an economy.
|
| 4 | 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
|
| 5 | Economics theory means |
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
|
| 6 | In economics, assumptions |
A. make economics theory useless
B. mean other things equal
C. enable economics to simplify reality
D. used in micro and not in macroeconomics
|
| 7 | All materials goods which can satisfy humans wants are called. |
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
|
| 8 | 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
|
| 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
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| 10 | Marshall wrote the book |
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
|
Test Questions
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