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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
Who criticized economics as "dismal Science".
Question # 2
Scarcity means
Question # 3
Economics is a science
Question # 4
Economics
Question # 5
In economics, assumptions
Question # 6
Wealth of Nations was written in
Question # 7
Marshall is his definition of economics
Question # 8
Economic principle are also called
Question # 9
According to Alfred Marshall, Economics should be taken as:
Question # 10
One of the following is not studied in Micro economics.
Question # 11
Economics laws are
Question # 12
The basic economic problem to all societies is
Question # 13
Validity of economics theories can never be proved with 100 percent certainty, because
Question # 14
One of the following is not a part of macro economics.
Question # 15
Which one is the non-economic activity.
Question # 16
All materials goods which can satisfy humans wants are called.
Question # 17
normative economics
Question # 18
Which type of problems are brought under discussion in micro economics .
Question # 19
Prof. Marshall thinks
Question # 20
Which statement is true?
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 -
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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 | 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
|
| 2 | 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.
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| 3 | Economics laws are |
A. exact
B. approximate
C. brief
D. definite
|
| 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
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| 5 | Father of the political economy |
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
|
| 6 | Prof. Marshall thinks |
A. Economics studies national welfare
B. Economics studies personal welfare
C. Economics studies total welfare
D. Economics studies material welfare
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| 7 | 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
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| 8 | 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
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| 9 | Who was the exponent of welfare economics. |
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
|
| 10 | Basic economic problem is |
A. inflation
B. unemployment
C. scarcity
D. lack of money
|
Test Questions
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