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

Who was the founder of classical school of thought?

Question # 2

Robbins definition of economics spell out the existence of

Question # 3

Economic problems arises because of.

Question # 4

Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.

Question # 5

Scarcity exists

Question # 6

Economic laws can be define as .

Question # 7

All non materials products which can satisfy human wants are called.

Question # 8

Economics is a science

Question # 9

Economics laws are:

Question # 10

Economics

Question # 11

normative economics

Question # 12

Wealth of Nations was written in

Question # 13

Economics is a science which studies.

Question # 14

Which laws are always subjected to certain conditions.

Question # 15

Wants are unlimited for:

Question # 16

Ceteris paribus means

Question # 17

Scarcity of goods means

Question # 18

Economics laws are

Question # 19

Scarcity means

Question # 20

Who criticized economics as "dismal Science".

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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 Economic laws can be define as .
A. A statement of social behaviour
B. Laws implement by an executive
C. Laws of the state
D. Statement of general economic tendencies
2 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
3 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
4 In which year Alfred Marshall wrote a book entitled "Principle of economics"
A. 1850
B. 190
C. 1870
D. 1890
5 The basic economic problem to all societies is
A. elimination of scarcity
B. what how and for whom to produce
C. equal distribution of wealth
D. to develop agriculture
6 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
7 One or more persons living together and having a common budget is called
A. union
B. organisation
C. household
D. house members
8 Who was the exponent of macro economics in recent times.
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
9 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
10 Basic economic problem is
A. inflation
B. unemployment
C. scarcity
D. lack of money

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