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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  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 1 Online Test

00:00
Question # 1

Which statement is true?

Question # 2

Scarcity of goods means

Question # 3

Economics theory means

Question # 4

normative economics

Question # 5

Economics is a science

Question # 6

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

Question # 7

Adam smith was a

Question # 8

Robbins in his definition

Question # 9

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

Question # 10

Select the correct statement

Question # 11

Micro economics concentrates

Question # 12

He described economics as a science of material welfare

Question # 13

Ceteris paribus means

Question # 14

A positive statement

Question # 15

Scope of economics is defined as:

Question # 16

All non materials products which can satisfy human wants are called.

Question # 17

According to Alfred Marshall, Economics should be taken as:

Question # 18

Marshall is his definition of economics

Question # 19

Which statement relates to macroeconomics

Question # 20

One of the following is not a part of macro 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 One of the following is not a part of macro economics.
A. Public finance
B. International trade.
C. Consumer behaviour.
D. National income.
2 Who was the exponent of macro economics in recent times.
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
3 Which of the following is the subject matter of Economics.
A. Optimum use of limited resources for the satisfaction of unlimited human wants.
B. Economic problems of the developing countries.
C. Labour problems.
D. Balance of payment problems.
4 Father of the political economy
A. Adam smith
B. Malthus
C. Marshall
D. Samuelson
5 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
6 Loinel Robbins wrote a book entitled "Nature and Significance of economic science" in.
A. 1776
B. 1998
C. 1931
D. 1936
7 All materials goods which can satisfy humans wants are called.
A. Non economic goods
B. Economic goods
C. Capital goods
D. Services
8 Wealth of Nations was written in
A. 1976
B. 1876
C. 1776
D. 1676
9 Scarcity means
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
10 According to Alfred Marshall, Economics should be taken as:
A. Positive economics
B. Normative economics
C. Welfare economics
D. Applied economics

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