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

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

Question # 2

He described economics as a science of material welfare

Question # 3

Economics problems arise because of

Question # 4

The products which are not priced in the market are called .

Question # 5

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

Question # 6

Adam Smith wrote a book entitled "An enquiry into the nature and causes of wealth of nation" in.

Question # 7

Wealth of Nations was written in

Question # 8

Who was the exponent of welfare economics.

Question # 9

All materials goods which can satisfy humans wants are called.

Question # 10

Prof. Robins wrote a book in 1931 entitled.

Question # 11

Which statement is true?

Question # 12

Micro economics concentrates

Question # 13

Basic economic problem is

Question # 14

Everyone should study economics is a

Question # 15

Which one is the non-economic activity.

Question # 16

Economics is a science

Question # 17

Wealth of Nations was written by

Question # 18

Who was the founder of classical school of thought?

Question # 19

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

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 Economics problems arise because of
A. greed
B. scarcity
C. dishonesty
D. laziness
2 Select the correct statement
A. Economics affects politics
B. Economics affects history
C. Geography affects economics
D. all of the above are true
3 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
4 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
5 Economics laws
A. must be followed
B. are hated by people
C. show economic behavior of people
D. are unscientific
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 Scarcity exists
A. in only poor countries
B. in a country that uses resources inefficiently
C. in all countries of the world
D. when society produces unimportant goods
8 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
9 Who was the exponent of welfare economics.
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
10 One of the following is not a part of macro economics.
A. Public finance
B. International trade.
C. Consumer behaviour.
D. National income.

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