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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Economics Ics Part 1 English Medium Chapter 1 Online Test

00:00
Question # 1

Who was the exponent of welfare economics.

Question # 2

Scope of economics is defined as:

Question # 3

The basic economic problem to all societies is

Question # 4

Ceteris paribus means

Question # 5

Economics is a science

Question # 6

Prof. Robins wrote a book in 1931 entitled.

Question # 7

Economics laws are:

Question # 8

Micro economics concentrates

Question # 9

One of the following is not studied in Micro economics.

Question # 10

Select the correct statement

Question # 11

Prof. Marshall thinks

Question # 12

Economics laws are

Question # 13

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

Question # 14

The products which are not priced in the market are called .

Question # 15

In economics, assumptions

Question # 16

Robbins definition of economics spell out the existence of

Question # 17

Which statement relates to macroeconomics

Question # 18

Scarcity means

Question # 19

In which year Alfred Marshall wrote a book entitled "Principle of economics"

Question # 20

Who said that "Economics is a science of human welfare"

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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 All the products which are priced in the market are.
A. Non economic products
B. Economic products
C. Private products
D. Public products
2 Who was the exponent of macro economics in recent times.
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
3 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
4 Father of the political economy
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
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 One or more persons living together and having a common budget is called
A. union
B. organisation
C. household
D. house members
7 One of the following is not studied in Micro economics.
A. Equilibrium to the firm
B. Distribution of rewards to factors of productions
C. Banking system
D. Market equilibrium
8 Micro economics concentrates
A. on inflation
B. international economics relations
C. individual economics units
D. economics development of Pakistan
9 Everyone should study economics is a
A. positive statement
B. normative statement
C. true statement
D. nonsense
10 In economics, assumptions
A. make economics theory useless
B. mean other things equal
C. enable economics to simplify reality
D. used in micro and not in macroeconomics

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