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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
Marshall is his definition of economics
Question # 2
Wealth of Nations was written by
Question # 3
Economics theory means
Question # 4
Father of the political economy
Question # 5
Which laws are implemented with an executive authority .
Question # 6
Who said that "Economics is a science of human welfare"
Question # 7
Basic economic problem is
Question # 8
Economics is a science
Question # 9
Wealth of nations
Question # 10
Prof. Robins wrote a book in 1931 entitled.
Question # 11
Marshall wrote the book
Question # 12
Economics laws are:
Question # 13
Which one is not doing an economic activity.
Question # 14
One or more persons living together and having a common budget is called
Question # 15
Who was the exponent of welfare economics.
Question # 16
A positive statement
Question # 17
All non materials products which can satisfy human wants are called.
Question # 18
The basic economic problem to all societies is
Question # 19
Economics laws
Question # 20
Which statement relates to macroeconomics
ICS Part 1 Economics Chapter 1 MCQs Test
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Economics theory means |
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
|
| 2 | Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in. |
A. 1776
B. 1998
C. 1931
D. 1936
|
| 3 | Robbins definition of economics spell out the existence of |
A. Economics problem
B. Social problem
C. Political problem
D. Moral problem
|
| 4 | Everyone should study economics is a |
A. positive statement
B. normative statement
C. true statement
D. nonsense
|
| 5 | Scarcity exists |
A. in only poor countries
B. in a country that uses resources inefficiently
C. in all countries of the world
D. when society produces unimportant goods
|
| 6 | Economics laws are |
A. exact
B. approximate
C. brief
D. definite
|
| 7 | Three basic economics problems are |
A. what, how and for whom
B. why, where and when
C. what, which and how much
D. what, which and why
|
| 8 | Economics laws are: |
A. Statements of tendencies in economic behaviour
B. Unrealistic to deal with real economic problems.
C. Absolute and certain like the laws of physical science
D. Used to forecast the growth rate of an economy.
|
| 9 | 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
|
| 10 | Who was the founder of classical school of thought? |
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
|
| 11 | In which year Alfred Marshall wrote a book entitled "Principle of economics" |
A. 1850
B. 190
C. 1870
D. 1890
|
| 12 | 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
|
| 13 | Father of the political economy |
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
|
| 14 | Wealth of Nations was written in |
A. 1976
B. 1876
C. 1776
D. 1676
|
| 15 | Which laws are always subjected to certain conditions. |
A. Social
B. Political
C. Moral
D. Economic
|
| 16 | Who was the exponent of welfare economics. |
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
|
| 17 | 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
|
| 18 | The products which are not priced in the market are called . |
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
|
| 19 | Which laws are implemented with an executive authority . |
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
|
| 20 | All materials goods which can satisfy humans wants are called. |
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
|
Test Questions
