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

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Economics Ics Part 1 English Medium Chapter 1 Online Test

00:00
Question # 1

Prof. Robins wrote a book in 1931 entitled.

Question # 2

Which statement is true?

Question # 3

Wealth of nations

Question # 4

Which one is the non-economic activity.

Question # 5

Macro economics deals with

Question # 6

Who was the exponent of macro economics in recent times.

Question # 7

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

Question # 8

Select the correct statement

Question # 9

He described economics as a science of material welfare

Question # 10

Scarcity exists

Question # 11

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

Question # 12

All materials goods which can satisfy humans wants are called.

Question # 13

Micro economics concentrates

Question # 14

Wants are unlimited for:

Question # 15

Which of the following is the subject matter of Economics.

Question # 16

Economics

Question # 17

Economics is a science

Question # 18

Which laws are implemented with an executive authority .

Question # 19

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

Question # 20

Father of the political economy

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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 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.
3 Wealth of Nations was written by
A. Adam Smith
B. Malthus
C. Marshall
D. Newton
4 Economics
A. is more important than mathematics
B. is a social science
C. should be made compulsory for every student
D. is difficult to study
5 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
6 One of the following is not studied in Micro economics.
A. Equilibrium to the firm
B. Distribution of rewards to factors of productions
C. Banking system
D. Market equilibrium
7 Who was the exponent of macro economics in recent times.
A. Adam Smith
B. J.M. Keynes
C. Marshall
D. Maithus
8 Wealth of Nations was written in
A. 1976
B. 1876
C. 1776
D. 1676
9 Who was the exponent of welfare economics.
A. Alfred Marshall.
B. Adam smith.
C. Lionel Robbins
D. J.M. Keynes.
10 All non materials products which can satisfy human wants are called.
A. Economic goods
B. Services
C. Non-economics goods
D. Services

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