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

Three basic economics problems are

Question # 2

Father of the political economy

Question # 3

normative economics

Question # 4

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

Question # 5

Economics

Question # 6

Economics is a science which studies.

Question # 7

Economics laws

Question # 8

Who criticized economics as "dismal Science".

Question # 9

Economics laws are

Question # 10

Economic laws can be define as .

Question # 11

One of the following is not studied in Micro economics.

Question # 12

Economics is a science

Question # 13

Which of the following is the subject matter of Economics.

Question # 14

Economics laws are:

Question # 15

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

Question # 16

Adam smith was a

Question # 17

Who was the exponent of welfare economics.

Question # 18

Who was the founder of classical school of thought?

Question # 19

Economics theory means

Question # 20

Everyone should study economics is a

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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 All materials goods which can satisfy humans wants are called.
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
2 Who was the founder of classical school of thought?
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
3 Marshall wrote the book
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
4 The basic economic problem to all societies is
A. elimination of scarcity
B. what how and for whom to produce
C. equal distribution of wealth
D. to develop agriculture
5 Three basic economics problems are
A. what, how and for whom
B. why, where and when
C. what, which and how much
D. what, which and why
6 Who was the exponent of welfare economics.
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
7 Which of the following is the subject matter of Economics.
A. Optimum use of limited resources for the satisfaction of unlimited human wants.
B. Economic problems of the developing countries.
C. Labour problems.
D. Balance of payment problems.
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 Economics
A. is more important than mathematics
B. is a social science
C. should be made compulsory for every student
D. is difficult to study
10 Which laws are always subjected to certain conditions.
A. Social
B. Political
C. Moral
D. Economic

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