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

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Question # 1

Which statement relates to macroeconomics

Question # 2

Wealth of nations

Question # 3

Ceteris paribus means

Question # 4

Economic laws can be define as .

Question # 5

Economics laws

Question # 6

Wealth of Nations was written in

Question # 7

Which laws are always subjected to certain conditions.

Question # 8

Wants are unlimited for:

Question # 9

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

Question # 10

Economics laws are

Question # 11

Market system means

Question # 12

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

Question # 13

All the products which are priced in the market are.

Question # 14

Which of the following is the subject matter of Economics.

Question # 15

Robbins in his definition

Question # 16

One of the following is not studied in Micro economics.

Question # 17

Economic principle are also called

Question # 18

Who criticized economics as "dismal Science".

Question # 19

Economic problems arises because of.

Question # 20

Robbins definition of economics spell out the existence of

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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 Wealth of Nations was written in
A. 1976
B. 1876
C. 1776
D. 1676
2 The products which are not priced in the market are called .
A. Economic goods
B. Non-economic goods
C. Merit goods
D. Social goods
3 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
4 Who criticized economics as "dismal Science".
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
5 Economic laws can be define as .
A. A statement of social behaviour
B. Laws implement by an executive
C. Laws of the state
D. Statement of general economic tendencies
6 All non materials products which can satisfy human wants are called.
A. Economic goods
B. Services
C. Non-economics goods
D. Services
7 Market system means
A. Socialism
B. Capitalism
C. a place where goods are traded
D. all of the above
8 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
9 Everyone should study economics is a
A. positive statement
B. normative statement
C. true statement
D. nonsense
10 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws

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