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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  • Total Questions20

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Economics Ics Part 1 English Medium Chapter 1 Online Test

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Question # 1

Which statement relates to macroeconomics

Question # 2

Father of the political economy

Question # 3

According to Alfred Marshall, Economics should be taken as:

Question # 4

Economics is a science

Question # 5

Which laws are implemented with an executive authority .

Question # 6

Who was the exponent of welfare economics.

Question # 7

Which one is not doing an economic activity.

Question # 8

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

Question # 9

Marshall wrote the book

Question # 10

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

Question # 11

Ceteris paribus means

Question # 12

Economics

Question # 13

Marshall is his definition of economics

Question # 14

Who criticized economics as "dismal Science".

Question # 15

One of the following is not studied in Micro economics.

Question # 16

Basic economic problem is

Question # 17

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

Question # 18

Economics theory means

Question # 19

Three basic economics problems are

Question # 20

All materials goods which can satisfy humans wants are called.

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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 Select the correct statement
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
3 He described economics as a science of material welfare
A. Robbins
B. Marshall
C. Ricardo
D. Keyness
4 Which one is not doing an economic activity.
A. One who is offering prayers.
B. One who works for wage.
C. One who rents out his property .
D. One who is an employee of Government
5 Micro economics concentrates
A. on inflation
B. international economics relations
C. individual economics units
D. economics development of Pakistan
6 Prof. Marshall thinks
A. Economics studies national welfare
B. Economics studies personal welfare
C. Economics studies total welfare
D. Economics studies material welfare
7 normative economics
A. deals solely with the facts
B. is never studied in colleges
C. involves opinions and interpretations
D. is clearly preferable to positive economics
8 Who said that "Economics is a science of human welfare"
A. Adam Smith
B. Carlyle and Ruskin
C. Alfred Marshall
D. Malthus
9 Ceteris paribus means
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
10 According to Alfred Marshall, Economics should be taken as:
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics

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