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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
Economic principle are also called
Question # 2
Which one is the non-economic activity.
Question # 3
Marshall wrote the book
Question # 4
Three basic economics problems are
Question # 5
In economics, assumptions
Question # 6
Economics problems arise because of
Question # 7
The basic economic problem to all societies is
Question # 8
Ceteris paribus means
Question # 9
Economics laws
Question # 10
Who was the founder of classical school of thought?
Question # 11
Validity of economics theories can never be proved with 100 percent certainty, because
Question # 12
Marshall is his definition of economics
Question # 13
According to Alfred Marshall, Economics should be taken as:
Question # 14
Everyone should study economics is a
Question # 15
Economic problems arises because of.
Question # 16
Economic laws can be define as .
Question # 17
Economics laws are
Question # 18
Scarcity of goods means
Question # 19
Scarcity means
Question # 20
Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
ICS Part 1 Economics Chapter 1 MCQs Test
Top Scorers Of Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test" MCQ`s Test
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L Laiba Muqaddas 25 - Jul - 2024 04 Min 48 Sec 20/20 -
Z Zafar Ali 22 - May - 2024 00 Min 10 Sec 19/20 -
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ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Wealth of Nations was written in |
A. 1976
B. 1876
C. 1776
D. 1676
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| 2 | One or more persons living together and having a common budget is called |
A. union
B. organisation
C. household
D. house members
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| 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
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| 4 | Which one is the non-economic activity. |
A. Service of a doctor
B. Morning walk
C. Service of teacher
D. Service of an advocate
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| 5 | Select the correct statement |
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
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| 6 | Economics problems arise because of |
A. greed
B. scarcity
C. dishonesty
D. laziness
|
| 7 | Scarcity means |
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
|
| 8 | Market system means |
A. Socialism
B. Capitalism
C. a place where goods are traded
D. all of the above
|
| 9 | Marshall wrote the book |
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
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| 10 | Who criticized economics as "dismal Science". |
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
|
Test Questions