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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
Economics laws are
Question # 2
All non materials products which can satisfy human wants are called.
Question # 3
According to Alfred Marshall, Economics should be taken as:
Question # 4
Economics problems arise because of
Question # 5
The products which are not priced in the market are called .
Question # 6
Who said that "Economics is a science of human welfare"
Question # 7
Wealth of nations
Question # 8
Scarcity exists
Question # 9
All materials goods which can satisfy humans wants are called.
Question # 10
Who was the founder of classical school of thought?
Question # 11
Wants are unlimited for:
Question # 12
In which year Alfred Marshall wrote a book entitled "Principle of economics"
Question # 13
A positive statement
Question # 14
One of the following is not a part of macro economics.
Question # 15
Which statement relates to macroeconomics
Question # 16
Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
Question # 17
Robbins in his definition
Question # 18
Economic laws can be define as .
Question # 19
Which statement is true?
Question # 20
Who criticized economics as "dismal Science".
ICS Part 1 Economics Chapter 1 MCQs Test
Top Scorers Of Chapter 1 "Economics Ics Part 1 English Medium Chapter 1 Online Test" MCQ`s Test
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S Sikander Mughal 17 - Nov - 2024 04 Min 37 Sec 20/20 -
L Laiba Muqaddas 25 - Jul - 2024 04 Min 48 Sec 20/20 -
Z Zafar Ali 22 - May - 2024 00 Min 10 Sec 19/20 -
A Ali Jutt 31 - May - 2024 05 Min 02 Sec 18/20 -
S Salman Malik 24 - Jul - 2024 04 Min 12 Sec 17/20 -
E Eman 19 - Jul - 2024 02 Min 36 Sec 16/20 -
N Najma Yaqoob 09 - Jan - 2025 03 Min 40 Sec 16/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 58 Sec 16/20 -
K King Anas 21 - May - 2024 09 Min 29 Sec 16/20 -
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A Ainan ali 24 - Jul - 2024 02 Min 45 Sec 15/20 -
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R rehman khalid 30 - Jun - 2024 04 Min 02 Sec 15/20 -
A Aiman Sadaqet 30 - Apr - 2026 04 Min 32 Sec 15/20 -
A Atiya Zahid 14 - Dec - 2024 02 Min 38 Sec 14/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | A positive statement |
A. concerns what is
B. is always accurate
C. deals with values and opinions
D. cannot be tested in the real world
|
| 2 | Which laws are implemented with an executive authority . |
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
|
| 3 | Scope of economics is defined as: |
A. Individual and aggregate economic behaviour of the people.
B. Subject matter of economics.
C. Welfare Economics.
D. All of the abpove
|
| 4 | Economics theory means |
A. economic policy
B. economic principles
C. descriptive economics
D. economics facts
|
| 5 | Market system means |
A. Socialism
B. Capitalism
C. a place where goods are traded
D. all of the above
|
| 6 | 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
|
| 7 | Economics is a science |
A. Spiritual
B. Social
C. dismal
D. moral
|
| 8 | Basic economic problem is |
A. inflation
B. unemployment
C. scarcity
D. lack of money
|
| 9 | Who criticized economics as "dismal Science". |
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
|
| 10 | Scarcity means |
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
|
Test Questions
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Afzal Rehmani
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jarrar
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28 Apr 2017Good
Mir Abdulrehman
27 Feb 2016Nice web.