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

According to Alfred Marshall, Economics should be taken as:

Question # 2

Who was the exponent of welfare economics.

Question # 3

Economics is a science

Question # 4

Scarcity means

Question # 5

One of the following is not studied in Micro economics.

Question # 6

Wealth of Nations was written in

Question # 7

Wants are unlimited for:

Question # 8

Which statement is true?

Question # 9

The basic economic problem to all societies is

Question # 10

Which laws are implemented with an executive authority .

Question # 11

Which statement relates to macroeconomics

Question # 12

Which one is the non-economic activity.

Question # 13

Ceteris paribus means

Question # 14

Macro economics deals with

Question # 15

In economics, assumptions

Question # 16

Who was the exponent of macro economics in recent times.

Question # 17

All the products which are priced in the market are.

Question # 18

normative economics

Question # 19

Which one is not doing an economic activity.

Question # 20

Economic laws can be define as .

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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 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.
2 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
3 Who said that "Economics is a science of human welfare"
A. Adam Smith
B. Carlyle and Ruskin
C. Alfred Marshall
D. Malthus
4 He described economics as a science of material welfare
A. Robbins
B. Marshall
C. Ricardo
D. Keyness
5 Prof. Robins wrote a book in 1931 entitled.
A. General Theory of employment. Interest and money.
B. An inquiry into the nature and causes of wealth of nations.
C. Principle of economics.
D. Nature and Significance of economic science.
6 The products which are not priced in the market are called .
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
7 Who was the founder of classical school of thought?
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
8 Wealth of nations
A. is another name for united nations
B. is name of a book
C. indicates total wealth of rich countries
D. contains formulas to earn wealth
9 Ceteris paribus means
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
10 Prof. Marshall thinks
A. Economics studies national welfare
B. Economics studies personal welfare
C. Economics studies total welfare
D. Economics studies material welfare

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