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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
MCQ's Test For Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test"
Try The 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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Time Allowed30
Economics Ics Part 1 English Medium Chapter 1 Online Test
00:00
Question # 1
Who was the exponent of macro economics in recent times.
Question # 2
Who was the founder of classical school of thought?
Question # 3
All materials goods which can satisfy humans wants are called.
Question # 4
Economics is a science which studies.
Question # 5
All non materials products which can satisfy human wants are called.
Question # 6
Robbins definition of economics spell out the existence of
Question # 7
Market system means
Question # 8
A positive statement
Question # 9
According to Alfred Marshall, Economics should be taken as:
Question # 10
The basic economic problem to all societies is
Question # 11
The products which are not priced in the market are called .
Question # 12
Wealth of Nations was written by
Question # 13
Which one is the non-economic activity.
Question # 14
normative economics
Question # 15
One of the following is not studied in Micro economics.
Question # 16
Economics
Question # 17
Select the correct statement
Question # 18
Which laws are always subjected to certain conditions.
Question # 19
Everyone should study economics is a
Question # 20
Which type of problems are brought under discussion in micro economics .
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 | 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
|
| 2 | Macro economics deals with |
A. how to buy groceries
B. aggregate economics activity
C. establishment of a new firm
D. industrial activity
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| 3 | The products which are not priced in the market are called . |
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
|
| 4 | In economics, assumptions |
A. make economics theory useless
B. mean other things equal
C. enable economics to simplify reality
D. used in micro and not in macroeconomics
|
| 5 | Adam smith was a |
A. President of France
B. a modern economist
C. good sports man
D. classical economist
|
| 6 | Marshall wrote the book |
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
|
| 7 | Validity of economics theories can never be proved with 100 percent certainty, because |
A. ceteris paribus clause
B. limited number of observation is possible
C. very large number of economic theories proved false in the past
D. b and c
|
| 8 | Which one is the non-economic activity. |
A. Service of a doctor
B. Morning walk
C. Service of teacher
D. Service of an advocate
|
| 9 | Who was the exponent of macro economics in recent times. |
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
|
| 10 | All materials goods which can satisfy humans wants are called. |
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
|
Test Questions