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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
One of the following is not studied in Micro economics.
Question # 2
Who was the exponent of macro economics in recent times.
Question # 3
Prof. Marshall thinks
Question # 4
Who was the founder of classical school of thought?
Question # 5
Who said that "Economics is a science of human welfare"
Question # 6
Basic economic problem is
Question # 7
In which year Alfred Marshall wrote a book entitled "Principle of economics"
Question # 8
Market system means
Question # 9
All the products which are priced in the market are.
Question # 10
Which one is the non-economic activity.
Question # 11
Three basic economics problems are
Question # 12
Ceteris paribus means
Question # 13
Which of the following is the subject matter of Economics.
Question # 14
All non materials products which can satisfy human wants are called.
Question # 15
Marshall is his definition of economics
Question # 16
Economics laws
Question # 17
Economics laws are
Question # 18
According to Alfred Marshall, Economics should be taken as:
Question # 19
One of the following is not a part of macro economics.
Question # 20
A positive statement
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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ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Adam smith was a |
A. President of France
B. a modern economist
C. good sports man
D. classical economist
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| 2 | 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
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| 3 | Economic problems arises because of. |
A. Unlimited wants.
B. Scarcity of resources.
C. Alternative use of resources.
D. All of the above
|
| 4 | One of the following is not a characteristics of economic laws. |
A. Economic laws lack exactitude
B. Economic laws lack predictability
C. They are not universa!
D. They are not optional
|
| 5 | 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
|
| 6 | Wants are unlimited for: |
A. Poor person
B. Rich person
C. All persons
D. None of them
|
| 7 | 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.
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| 8 | Who was the founder of classical school of thought? |
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
|
| 9 | 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
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| 10 | Ceteris paribus means |
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
|
Test Questions
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