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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
Which one is not doing an economic activity.
Question # 2
Which laws are always subjected to certain conditions.
Question # 3
One of the following is not a part of macro economics.
Question # 4
Economics is a science which studies.
Question # 5
Who said that "Economics is a science of human welfare"
Question # 6
Wealth of Nations was written in
Question # 7
Three basic economics problems are
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
The basic economic problem to all societies is
Question # 11
One or more persons living together and having a common budget is called
Question # 12
Economics laws are:
Question # 13
Scope of economics is defined as:
Question # 14
Economics theory means
Question # 15
Scarcity means
Question # 16
Who was the exponent of macro economics in recent times.
Question # 17
Which statement relates to macroeconomics
Question # 18
The products which are not priced in the market are called .
Question # 19
One of the following is not a characteristics of economic laws.
Question # 20
Which one is the non-economic activity.
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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L Laiba Muqaddas 25 - Jul - 2024 04 Min 48 Sec 20/20 -
Z Zafar Ali 22 - May - 2024 00 Min 10 Sec 19/20 -
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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 | Marshall wrote the book |
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
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| 2 | Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in. |
A. 1784
B. 1792
C. 1776
D. 1796
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| 3 | Who was the founder of classical school of thought? |
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
|
| 4 | Macro economics deals with |
A. how to buy groceries
B. aggregate economics activity
C. establishment of a new firm
D. industrial activity
|
| 5 | Which of the following is the subject matter of Economics. |
A. Optimum use of limited resources for the satisfaction of unlimited human wants.
B. Economic problems of the developing countries.
C. Labour problems.
D. Balance of payment problems.
|
| 6 | Father of the political economy |
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
|
| 7 | Who was the exponent of welfare economics. |
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
|
| 8 | 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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| 9 | Basic economic problem is |
A. inflation
B. unemployment
C. scarcity
D. lack of money
|
| 10 | Which one is the non-economic activity. |
A. Service of a doctor
B. Morning walk
C. Service of teacher
D. Service of an advocate
|
Test Questions
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Mir Abdulrehman
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