First Year Economics Chapter 1 Online MCQ Test for 1st Year Economics Chapter 1 (Nature and Scope)

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

ICS Part 1 Economics Chapter 1 Test

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ICS Part 1 Economics Chapter Wise Test

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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Economics Ics Part 1 English Medium Chapter 1 Online Test

00:00
Question # 1

Everyone should study economics is a

Question # 2

Wealth of nations

Question # 3

Economics is a science which studies.

Question # 4

Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.

Question # 5

One of the following is not studied in Micro economics.

Question # 6

Basic economic problem is

Question # 7

Marshall is his definition of economics

Question # 8

Which statement relates to macroeconomics

Question # 9

Who was the exponent of macro economics in recent times.

Question # 10

Economics theory means

Question # 11

Which of the following is the subject matter of Economics.

Question # 12

Three basic economics problems are

Question # 13

Father of the political economy

Question # 14

A positive statement

Question # 15

Economics

Question # 16

Micro economics concentrates

Question # 17

Economic problems arises because of.

Question # 18

Scarcity means

Question # 19

Who was the exponent of welfare economics.

Question # 20

One or more persons living together and having a common budget is called

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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 Validity of economics theories can never be proved with 100 percent certainty, because
A. ceteris paribus clause
B. limited number of observation is possible
C. very large number of economic theories proved false in the past
D. b and c
2 Everyone should study economics is a
A. positive statement
B. normative statement
C. true statement
D. nonsense
3 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
4 Economics problems arise because of
A. greed
B. scarcity
C. dishonesty
D. laziness
5 Who was the exponent of macro economics in recent times.
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
6 Robbins in his definition
A. talks of scarcity of resources
B. preached moral values
C. supports Adam smith view
D. none of the above
7 Wealth of Nations was written by
A. Adam Smith
B. Malthus
C. Marshall
D. Newton
8 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
9 One of the following is not studied in Micro economics.
A. Equilibrium to the firm
B. Distribution of rewards to factors of productions
C. Banking system
D. Market equilibrium
10 Economics is a science
A. Spiritual
B. Social
C. dismal
D. moral

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