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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 Economics theory means
  • A. economic policy
  • B. economic principles
  • C. descriptive economics
  • D. economics facts
2 Robbins in his definition
  • A. talks of scarcity of resources
  • B. preached moral values
  • C. supports Adam smith view
  • D. none of the above
3 Ceteris paribus means
  • A. other things equal
  • B. all variable are independent
  • C. all relationships are inverse
  • D. that no other assumptions are made
4 One of the following is not a part of macro economics.
  • A. Public finance
  • B. International trade.
  • C. Consumer behaviour.
  • D. National income.
5 Who criticized economics as "dismal Science".
  • A. Alfred Marshall
  • B. Lionel Robbins
  • C. Carlyle and Ruskin
  • D. J.M. Keynes.
6 Economic principle are also called
  • A. economic law
  • B. economic theory
  • C. economic model
  • D. all of the above
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 In which year Alfred Marshall wrote a book entitled "Principle of economics"
  • A. 1850
  • B. 190
  • C. 1870
  • D. 1890
9 Market system means
  • A. Socialism
  • B. Capitalism
  • C. a place where goods are traded
  • D. all of the above
10 Marshall is his definition of economics
  • A. uses the concept of material welfare
  • B. dislikes wealth
  • C. accuses Adam smith
  • D. Praises Robbins

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

H

Hamza Abid

Abbottabad05 - Nov - 2023

19/20
10 Mins 50 Sec
S

Siddhartha Barua

Lahore14 - Sep - 2023

17/20
09 Mins 32 Sec
H

Hawwa Abbasi

Lahore05 - Nov - 2023

16/20
02 Mins 27 Sec
H

Hawwa Abbasi

Lahore05 - Nov - 2023

16/20
03 Mins 21 Sec
H

Hawwa Abbasi

Lahore05 - Nov - 2023

16/20
03 Mins 35 Sec
H

Hawwa Abbasi

Lahore05 - Nov - 2023

16/20
04 Mins 09 Sec
H

Hamza Abid

Abbottabad05 - Nov - 2023

15/20
10 Mins 50 Sec
H

Hamza Abid

Abbottabad05 - Nov - 2023

15/20
10 Mins 50 Sec
H

Hamza Abid

Abbottabad03 - Nov - 2023

15/20
10 Mins 50 Sec
H

Hamza Abid

Abbottabad03 - Nov - 2023

15/20
10 Mins 50 Sec
U

Usman Ali

Lahore28 - Nov - 2023

14/20
06 Mins 08 Sec
H

Hamza Abid

Abbottabad03 - Nov - 2023

14/20
10 Mins 50 Sec
H

Hamza Abid

Abbottabad05 - Nov - 2023

13/20
10 Mins 50 Sec
F

FAIQA ZAINAB

Lahore01 - Dec - 2023

12/20
03 Mins 26 Sec
H

Hamza Abid

Abbottabad03 - Nov - 2023

12/20
10 Mins 50 Sec

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