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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
All non materials products which can satisfy human wants are called.
Question # 2
The products which are not priced in the market are called .
Question # 3
Scarcity of goods means
Question # 4
Who was the exponent of macro economics in recent times.
Question # 5
Who was the founder of classical school of thought?
Question # 6
One of the following is not studied in Micro economics.
Question # 7
Micro economics concentrates
Question # 8
Wealth of Nations was written in
Question # 9
All the products which are priced in the market are.
Question # 10
Who was the exponent of welfare economics.
Question # 11
Economic problems arises because of.
Question # 12
Economics theory means
Question # 13
Wealth of nations
Question # 14
One of the following is not a characteristics of economic laws.
Question # 15
Wants are unlimited for:
Question # 16
Who said that "Economics is a science of human welfare"
Question # 17
Adam smith was a
Question # 18
Prof. Marshall thinks
Question # 19
Validity of economics theories can never be proved with 100 percent certainty, because
Question # 20
Wealth of Nations was written by
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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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 -
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Q Qazi Mohid 09 - Jun - 2026 06 Min 25 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 | Father of the political economy |
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
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| 2 | Who said that "Economics is a science of human welfare" |
A. Adam Smith
B. Carlyle and Ruskin
C. Alfred Marshall
D. Malthus
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| 3 | 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
|
| 4 | Economics problems arise because of |
A. greed
B. scarcity
C. dishonesty
D. laziness
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| 5 | 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
|
| 6 | Who was the exponent of macro economics in recent times. |
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
|
| 7 | All materials goods which can satisfy humans wants are called. |
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
|
| 8 | 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
|
| 9 | Wealth of nations |
A. is another name for united nations
B. is name of a book
C. indicates total wealth of rich countries
D. contains formulas to earn wealth
|
| 10 | Who was the founder of classical school of thought? |
A. Adam Smith
B. Marshall
C. Keynes
D. Maithus
|
Test Questions
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