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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 1 Online Test MCQs With Answers
Question # 1
The most clear and comprehensive definition of economics is given by
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Adam Smith
Alfred Marshall
Robbins
A.C. Pigou
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Question # 2
The goods which are directly consumed by the human-being, are called
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Consumer goods
Capital goods
Industrial goods
None of the three
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Question # 3
Methods of deriving economic laws are
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Two
Three
Four
Five
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Question # 4
In macro economics, what kind of problems can be discussed
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International trade
Consumers behavior
Problems of a firm
Determination of price
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Question # 5
According to Marshall, Economics is
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Social Science
Correcting science
Positive science
Moral science
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Question # 6
Micro economics studies related to
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National income
Unemployment
Trade cycle
Consumer's behavior
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Question # 7
Not acting upon economic laws
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One gets punishment
Economy faces loss
Only the people not acting, face loss
No one is influenced
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Question # 8
Who said that economics is science of wealth
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Adam smith
Robbins
Marshall
Pigou
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Question # 9
Micro economics related to
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International trade
Behavior of firm
National income
Personal income
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Question # 10
Founder of neo-classical school of thought:
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Adam Smith
Marshall
Robbins
Keynes
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Question # 11
To derive economic laws inductive method was adopted by
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Classical school of thought
Neo classical school of thought
Historical school of thought
Modern school of thought
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Question # 12
Micro economics studies related to:
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National income
Unemployment
Trade cycle
Consumers behaviour
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Question # 13
Economics is a science:
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Political
Spiritual
Social
Scientific
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Question # 14
The science in which conditions and incidents are checked from a particular point of view, is called
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Positive science
Normative science
Social science
All of three
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Question # 15
Are included in welfare economist
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Ricardo and J.S. Mill
Robbins and Keynes
Cannon and Pigou
Malthus and Keynes
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Question # 16
"Principles of Economics" was written in:
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1776
1890
1932
1930
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