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1st Chapter

ICS Part 1 Economics Chapter 1 MCQs Test

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

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

Sr. # Questions Answers Choice
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 Prof. Marshall thinks
  • A. Economics studies national welfare
  • B. Economics studies personal welfare
  • C. Economics studies total welfare
  • D. Economics studies material welfare
3 Who was the founder of classical school of thought?
  • A. Adam Smith
  • B. Marshall
  • C. Keynes
  • D. Maithus
4 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
5 Father of the political economy
  • A. Adam smith
  • B. Malthus
  • C. Marshall
  • D. Samuelson
6 Economics is a science
  • A. Spiritual
  • B. Social
  • C. dismal
  • D. moral
7 Basic economic problem is
  • A. inflation
  • B. unemployment
  • C. scarcity
  • D. lack of money
8 Scarcity means
  • A. non availability of goods
  • B. high price of goods
  • C. less supply than demand
  • D. high profit of the firms
9 Which laws are always subjected to certain conditions.
  • A. Social
  • B. Political
  • C. Moral
  • D. Economic
10 Economic problems arises because of.
  • A. Unlimited wants.
  • B. Scarcity of resources.
  • C. Alternative use of resources.
  • D. All of the above

Top Scorers of Economics Ics Part 1 English Medium Chapter 1 Online Test

S

Shahid Rauf

Lahore16 - Nov - 2022

19/20
03 Mins 28 Sec

Samia Malik

Lahore07 - Jan - 2023

14/20
01 Mins 13 Sec
A

Aliza Fatima

Lahore22 - Jan - 2023

14/20
04 Mins 02 Sec
S

Shahid Rauf

Lahore16 - Nov - 2022

13/20
02 Mins 42 Sec

Samia Malik

Lahore07 - Jan - 2023

13/20
03 Mins 44 Sec
R

Rashid Ali

Lahore12 - Nov - 2022

13/20
05 Mins 28 Sec

Samia Malik

Lahore07 - Jan - 2023

12/20
02 Mins 25 Sec
S

Shahid Rauf

Lahore16 - Nov - 2022

12/20
03 Mins 49 Sec
Z

Zunaira Malik

Lahore05 - Dec - 2022

11/20
05 Mins 56 Sec
7

7Up Legend

Lahore13 - Jan - 2023

10/20
03 Mins 06 Sec
A

Amna

Lahore06 - Jan - 2023

10/20
03 Mins 50 Sec

Samia Malik

Lahore07 - Jan - 2023

10/20
04 Mins 22 Sec

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