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

The basic economic problem to all societies is

Question # 2

Wants are unlimited for:

Question # 3

Economics laws are

Question # 4

Wealth of Nations was written in

Question # 5

He described economics as a science of material welfare

Question # 6

Which of the following is the subject matter of Economics.

Question # 7

Everyone should study economics is a

Question # 8

Wealth of nations

Question # 9

Economics laws are:

Question # 10

All the products which are priced in the market are.

Question # 11

Marshall wrote the book

Question # 12

All materials goods which can satisfy humans wants are called.

Question # 13

One or more persons living together and having a common budget is called

Question # 14

Wealth of Nations was written by

Question # 15

Economics problems arise because of

Question # 16

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

Question # 17

Prof. Robins wrote a book in 1931 entitled.

Question # 18

Who was the exponent of welfare economics.

Question # 19

Which statement relates to macroeconomics

Question # 20

Basic economic problem is

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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 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
2 Which laws are implemented with an executive authority .
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
3 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
4 Economic problems arises because of.
A. Unlimited wants.
B. Scarcity of resources.
C. Alternative use of resources.
D. All of the above
5 All materials goods which can satisfy humans wants are called.
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
6 Marshall is his definition of economics
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
7 Economics is a science
A. Spiritual
B. Social
C. dismal
D. moral
8 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.
9 Micro economics concentrates
A. on inflation
B. international economics relations
C. individual economics units
D. economics development of Pakistan
10 In which year Alfred Marshall wrote a book entitled "Principle of economics"
A. 1850
B. 190
C. 1870
D. 1890

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