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

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Question # 1

Adam smith was a

Question # 2

Micro economics concentrates

Question # 3

All the products which are priced in the market are.

Question # 4

Economics theory means

Question # 5

Economic laws can be define as .

Question # 6

Which one is the non-economic activity.

Question # 7

Wealth of nations

Question # 8

Market system means

Question # 9

Which type of problems are brought under discussion in micro economics .

Question # 10

Economics problems arise because of

Question # 11

Which laws are always subjected to certain conditions.

Question # 12

Economics laws are

Question # 13

Which of the following is the subject matter of Economics.

Question # 14

Which laws are implemented with an executive authority .

Question # 15

Economics is a science

Question # 16

Scarcity means

Question # 17

Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.

Question # 18

Father of the political economy

Question # 19

Economic principle are also called

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 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
2 Economics theory means
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
3 Robbins in his definition
A. talks of scarcity of resources
B. preached moral values
C. supports Adam smith view
D. none of the above
4 Prof. Marshall thinks
A. Economics studies national welfare
B. Economics studies personal welfare
C. Economics studies total welfare
D. Economics studies material welfare
5 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
6 Wants are unlimited for:
A. Poor person
B. Rich person
C. All persons
D. None of them
7 Basic economic problem is
A. inflation
B. unemployment
C. scarcity
D. lack of money
8 Ceteris paribus means
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
9 Scope of economics is defined as:
A. Individual and aggregate economic behaviour of the people.
B. Subject matter of economics.
C. Welfare Economics.
D. All of the abpove
10 Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.
A. 1784
B. 1792
C. 1776
D. 1796

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