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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
Economics laws are:
Question # 2
Economics is a science
Question # 3
Everyone should study economics is a
Question # 4
Robbins in his definition
Question # 5
The basic economic problem to all societies is
Question # 6
Scarcity means
Question # 7
Economic problems arises because of.
Question # 8
Which of the following is the subject matter of Economics.
Question # 9
Wealth of nations
Question # 10
Which statement is true?
Question # 11
He described economics as a science of material welfare
Question # 12
Economic principle are also called
Question # 13
normative economics
Question # 14
Who said that "Economics is a science of human welfare"
Question # 15
All the products which are priced in the market are.
Question # 16
Prof. Marshall thinks
Question # 17
Ceteris paribus means
Question # 18
Prof. Robins wrote a book in 1931 entitled.
Question # 19
Basic economic problem is
Question # 20
Validity of economics theories can never be proved with 100 percent certainty, because
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 | 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
|
| 2 | Wealth of Nations was written by |
A. Adam Smith
B. Malthus
C. Marshall
D. Newton
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| 3 | Who was the founder of classical school of thought? |
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
|
| 4 | Which one is not doing an economic activity. |
A. One who is offering prayers.
B. One who works for wage.
C. One who rents out his property .
D. One who is an employee of Government
|
| 5 | 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
|
| 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 | 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
|
| 8 | 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
|
| 9 | Economic problems arises because of. |
A. Unlimited wants.
B. Scarcity of resources.
C. Alternative use of resources.
D. All of the above
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| 10 | Who was the exponent of macro economics in recent times. |
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
|
Test Questions
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Afzal Rehmani
02 Apr 2024How to make selected ch mcqz test
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Hammad gujjar
28 Apr 2017Good
Mir Abdulrehman
27 Feb 2016Nice web.