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

Scope of economics is defined as:

Question # 2

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

Question # 3

Economics laws

Question # 4

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

Question # 5

Wealth of nations

Question # 6

Prof. Marshall thinks

Question # 7

Robbins in his definition

Question # 8

A positive statement

Question # 9

Which statement is true?

Question # 10

Robbins definition of economics spell out the existence of

Question # 11

Select the correct statement

Question # 12

Economics is a science which studies.

Question # 13

One or more persons living together and having a common budget is called

Question # 14

All materials goods which can satisfy humans wants are called.

Question # 15

Which of the following is the subject matter of Economics.

Question # 16

Who criticized economics as "dismal Science".

Question # 17

Economics laws are:

Question # 18

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

Question # 19

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

Question # 20

Wants are unlimited for:

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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 Wants are unlimited for:
A. Poor person
B. Rich person
C. All persons
D. None of them
2 Select the correct statement
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
3 Which statement relates to macroeconomics
A. Oil prices are rising in Pakistan
B. Profit rate is high in textile industry
C. The firms try to make huge profits
D. The government had failed to control inflation
4 The products which are not priced in the market are called .
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
5 Wealth of Nations was written by
A. Adam Smith
B. Malthus
C. Marshall
D. Newton
6 Wealth of Nations was written in
A. 1976
B. 1876
C. 1776
D. 1676
7 A positive statement
A. concerns what is
B. is always accurate
C. deals with values and opinions
D. cannot be tested in the real world
8 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
9 Which laws are always subjected to certain conditions.
A. Social
B. Political
C. Moral
D. Economic
10 Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
A. 1776
B. 1998
C. 1931
D. 1936

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