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

ICS Part 1 Economics Chapter 1 Test

Start Chapter 1 Test

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

Sr. # Questions Answers Choice
1 Economics is a science which studies.
  • A. Distribution of income
  • B. Optimum use of scarce resources.
  • C. Production of wealth only
  • D. Exchange of wealth only
2 Select the correct statement
  • A. Economics affects politics
  • B. Economics affects history
  • C. Geography affects economics
  • D. all of the above are true
3 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.
4 All non materials products which can satisfy human wants are called.
  • A. Economic goods
  • B. Services
  • C. Non-economics goods
  • D. Services
5 One or more persons living together and having a common budget is called
  • A. union
  • B. organisation
  • C. household
  • D. house members
6 Wealth of Nations was written by
  • A. Adam Smith
  • B. Malthus
  • C. Marshall
  • D. Newton
7 Ceteris paribus means
  • A. other things equal
  • B. all variable are independent
  • C. all relationships are inverse
  • D. that no other assumptions are made
8 Macro economics deals with
  • A. how to buy groceries
  • B. aggregate economics activity
  • C. establishment of a new firm
  • D. industrial activity
9 Prof. Marshall thinks
  • A. Economics studies national welfare
  • B. Economics studies personal welfare
  • C. Economics studies total welfare
  • D. Economics studies material welfare
10 All materials goods which can satisfy humans wants are called.
  • A. Non economic goods
  • B. Economic goods
  • C. Capital goods
  • D. Services

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

A

Abdul Haleem

Lahore05 - May - 2025

20/20
45 Sec
A

Abdul Haleem

Lahore05 - May - 2025

20/20
45 Sec
F

FAIZA RASHID

Lahore21 - May - 2025

20/20
01 Mins 35 Sec
F

FAIZA RASHID

Lahore21 - May - 2025

20/20
01 Mins 55 Sec
F

FAIZA RASHID

Lahore21 - May - 2025

19/20
02 Mins 11 Sec
J

Jaweria Zarmeen

Lahore16 - Apr - 2025

19/20
03 Mins 24 Sec
A

Abdul Haleem

Lahore05 - May - 2025

18/20
45 Sec
U

Umme Ruman

Lahore26 - May - 2025

18/20
02 Mins 09 Sec
A

Ajmal Khan

Lahore10 - Apr - 2025

18/20
04 Mins 34 Sec
A

Abdul Haleem

Lahore05 - May - 2025

17/20
45 Sec
A

Abdul Haleem

Lahore05 - May - 2025

17/20
45 Sec
M

Malik Waqas

Lahore21 - May - 2025

17/20
01 Mins 01 Sec
M

Muhammad Hassan

Lahore06 - May - 2025

17/20
01 Mins 34 Sec
U

Umme Ruman

Lahore26 - May - 2025

17/20
01 Mins 44 Sec
M

Muhammad Hassan

Lahore06 - May - 2025

17/20
01 Mins 46 Sec

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  • Afzal Rehmani

    02 Apr 2024

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    24 Dec 2019

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    28 Apr 2017

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    27 Feb 2016

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