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

Prof. Robins wrote a book in 1931 entitled.

Question # 2

Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.

Question # 3

Adam smith was a

Question # 4

Everyone should study economics is a

Question # 5

Robbins in his definition

Question # 6

Which statement relates to macroeconomics

Question # 7

Economics laws are

Question # 8

Which laws are implemented with an executive authority .

Question # 9

A positive statement

Question # 10

Economics is a science which studies.

Question # 11

In economics, assumptions

Question # 12

Scarcity means

Question # 13

Who was the exponent of macro economics in recent times.

Question # 14

Father of the political economy

Question # 15

Which one is the non-economic activity.

Question # 16

Economics

Question # 17

Which laws are always subjected to certain conditions.

Question # 18

Robbins definition of economics spell out the existence of

Question # 19

One of the following is not a part of macro economics.

Question # 20

One of the following is not studied in Micro economics.

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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 Prof. Robins wrote a book in 1931 entitled.
A. General Theory of employment. Interest and money.
B. An inquiry into the nature and causes of wealth of nations.
C. Principle of economics.
D. Nature and Significance of economic science.
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 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
4 All the products which are priced in the market are.
A. Non economic products
B. Economic products
C. Private products
D. Public products
5 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
6 Ceteris paribus means
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
7 Economics is a science which studies.
A. Distribution of income
B. Optimum use of scarce resources.
C. Production of wealth only
D. Exchange of wealth only
8 Which type of problems are brought under discussion in micro economics .
A. Consumer's behaviour
B. International trade
C. Balance of payment
D. Public finance
9 Marshall wrote the book
A. Classical economics
B. Introduction to economics
C. Micro economics theory
D. Principles of economics
10 Economics is a science
A. Spiritual
B. Social
C. dismal
D. moral

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