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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
He described economics as a science of material welfare
Question # 2
Marshall is his definition of economics
Question # 3
Which laws are implemented with an executive authority .
Question # 4
Economics laws are
Question # 5
The basic economic problem to all societies is
Question # 6
All materials goods which can satisfy humans wants are called.
Question # 7
Economics problems arise because of
Question # 8
Which statement relates to macroeconomics
Question # 9
All non materials products which can satisfy human wants are called.
Question # 10
Scarcity of goods means
Question # 11
Scope of economics is defined as:
Question # 12
Micro economics concentrates
Question # 13
The products which are not priced in the market are called .
Question # 14
Father of the political economy
Question # 15
Economics is a science
Question # 16
normative economics
Question # 17
Macro economics deals with
Question # 18
Ceteris paribus means
Question # 19
All the products which are priced in the market are.
Question # 20
Validity of economics theories can never be proved with 100 percent certainty, because
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 -
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M Mohammad Akhlaq 17 - Oct - 2024 03 Min 58 Sec 16/20 -
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A Aiman Sadaqet 30 - Apr - 2026 04 Min 32 Sec 15/20 -
A Atiya Zahid 14 - Dec - 2024 02 Min 38 Sec 14/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Marshall wrote the book |
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
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| 3 | Which statement is true? |
A. Economics is a physical and normative science
B. Economics is a social and natural science
C. Economics is physical and positive science
D. Economics is a social and normative science
|
| 4 | A positive statement |
A. concerns what is
B. is always accurate
C. deals with values and opinions
D. cannot be tested in the real world
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| 5 | Economics laws are |
A. exact
B. approximate
C. brief
D. definite
|
| 6 | 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
|
| 7 | Robbins in his definition |
A. talks of scarcity of resources
B. preached moral values
C. supports Adam smith view
D. none of the above
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| 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 | According to Alfred Marshall, Economics should be taken as: |
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics
|
| 10 | 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
|
Test Questions
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Afzal Rehmani
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