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

All materials goods which can satisfy humans wants are called.

Question # 2

Economics theory means

Question # 3

Who was the exponent of macro economics in recent times.

Question # 4

Economic principle are also called

Question # 5

Wants are unlimited for:

Question # 6

Prof. Robins wrote a book in 1931 entitled.

Question # 7

Economics problems arise because of

Question # 8

Economic laws can be define as .

Question # 9

Marshall wrote the book

Question # 10

Which statement relates to macroeconomics

Question # 11

Which of the following is the subject matter of Economics.

Question # 12

Scarcity exists

Question # 13

In economics, assumptions

Question # 14

Wealth of Nations was written by

Question # 15

Marshall is his definition of economics

Question # 16

The basic economic problem to all societies is

Question # 17

Which one is the non-economic activity.

Question # 18

According to Alfred Marshall, Economics should be taken as:

Question # 19

Which statement is true?

Question # 20

Economics laws are:

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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 Which statement is true?
A. Economics is a physical and normative science
B. Economics is a social and natural science
C. Economics is physical and positive science
D. Economics is a social and normative science
2 Who was the exponent of welfare economics.
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
3 Market system means
A. Socialism
B. Capitalism
C. a place where goods are traded
D. all of the above
4 In which year Alfred Marshall wrote a book entitled "Principle of economics"
A. 1850
B. 190
C. 1870
D. 1890
5 Which one is the non-economic activity.
A. Service of a doctor
B. Morning walk
C. Service of teacher
D. Service of an advocate
6 Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.
A. 1784
B. 1792
C. 1776
D. 1796
7 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
8 Who criticized economics as "dismal Science".
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
9 One of the following is not a characteristics of economic laws.
A. Economic laws lack exactitude
B. Economic laws lack predictability
C. They are not universa!
D. They are not optional
10 Marshall wrote the book
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics

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