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

All materials goods which can satisfy humans wants are called.

Question # 2

Father of the political economy

Question # 3

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

Question # 4

Which one is the non-economic activity.

Question # 5

One of the following is not studied in Micro economics.

Question # 6

Market system means

Question # 7

One of the following is not a characteristics of economic laws.

Question # 8

Basic economic problem is

Question # 9

Select the correct statement

Question # 10

Economics theory means

Question # 11

Everyone should study economics is a

Question # 12

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

Question # 13

Wealth of Nations was written in

Question # 14

Which statement is true?

Question # 15

Ceteris paribus means

Question # 16

Who was the exponent of welfare economics.

Question # 17

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

Question # 18

Validity of economics theories can never be proved with 100 percent certainty, because

Question # 19

All non materials products which can satisfy human wants are called.

Question # 20

Economics laws are:

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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 Economics theory means
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
2 Robbins definition of economics spell out the existence of
A. Economics problem
B. Social problem
C. Political problem
D. Moral problem
3 All materials goods which can satisfy humans wants are called.
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
4 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
5 Scarcity exists
A. in only poor countries
B. in a country that uses resources inefficiently
C. in all countries of the world
D. when society produces unimportant goods
6 Scarcity of goods means
A. non availability of goods
B. high price of goods
C. People don't want to get such goods
D. the good is available but it is not free
7 Economic problems arises because of.
A. Unlimited wants.
B. Scarcity of resources.
C. Alternative use of resources.
D. All of the above
8 All the products which are priced in the market are.
A. Non economic products
B. Economic products
C. Private products
D. Public products
9 Which one is the non-economic activity.
A. Service of a doctor
B. Morning walk
C. Service of teacher
D. Service of an advocate
10 Scarcity means
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms

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