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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
Who criticized economics as "dismal Science".
Question # 2
All non materials products which can satisfy human wants are called.
Question # 3
Which of the following is the subject matter of Economics.
Question # 4
Economics laws
Question # 5
Macro economics deals with
Question # 6
Which statement relates to macroeconomics
Question # 7
According to Alfred Marshall, Economics should be taken as:
Question # 8
Who was the exponent of welfare economics.
Question # 9
Everyone should study economics is a
Question # 10
Who was the exponent of macro economics in recent times.
Question # 11
All the products which are priced in the market are.
Question # 12
Which laws are implemented with an executive authority .
Question # 13
Economics problems arise because of
Question # 14
The products which are not priced in the market are called .
Question # 15
Wealth of Nations was written in
Question # 16
Basic economic problem is
Question # 17
Economics
Question # 18
Validity of economics theories can never be proved with 100 percent certainty, because
Question # 19
Adam smith was a
Question # 20
One of the following is not studied in Micro economics.
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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S Sikander Mughal 17 - Nov - 2024 04 Min 37 Sec 20/20 -
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 -
S Salman Malik 24 - Jul - 2024 04 Min 12 Sec 17/20 -
E Eman 19 - Jul - 2024 02 Min 36 Sec 16/20 -
A Abdullah Safdar 23 - Jun - 2026 02 Min 44 Sec 16/20 -
N Najma Yaqoob 09 - Jan - 2025 03 Min 40 Sec 16/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 58 Sec 16/20 -
K King Anas 21 - May - 2024 09 Min 29 Sec 16/20 -
A Ainan ali 24 - Jul - 2024 02 Min 45 Sec 15/20 -
F Faiqa Shahid 20 - Jul - 2024 03 Min 24 Sec 15/20 -
R rehman khalid 30 - Jun - 2024 04 Min 02 Sec 15/20 -
A Aiman Sadaqet 30 - Apr - 2026 04 Min 32 Sec 15/20 -
Q Qazi Mohid 09 - Jun - 2026 06 Min 25 Sec 15/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Marshall is his definition of economics |
A. uses the concept of material welfare
B. dislikes wealth
C. accuses Adam smith
D. Praises Robbins
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| 2 | Which laws are implemented with an executive authority . |
A. Economic laws
B. Moral laws
C. State laws
D. Physical laws
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| 3 | Scarcity means |
A. non availability of goods
B. high price of goods
C. less supply than demand
D. high profit of the firms
|
| 4 | Validity of economics theories can never be proved with 100 percent certainty, because |
A. ceteris paribus clause
B. limited number of observation is possible
C. very large number of economic theories proved false in the past
D. b and c
|
| 5 | 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.
|
| 6 | Who criticized economics as "dismal Science". |
A. Alfred Marshall
B. Lionel Robbins
C. Carlyle and Ruskin
D. J.M. Keynes.
|
| 7 | He described economics as a science of material welfare |
A. Robbins
B. Marshall
C. Ricardo
D. Keyness
|
| 8 | Robbins in his definition |
A. talks of scarcity of resources
B. preached moral values
C. supports Adam smith view
D. none of the above
|
| 9 | Economics laws are: |
A. Statements of tendencies in economic behaviour
B. Unrealistic to deal with real economic problems.
C. Absolute and certain like the laws of physical science
D. Used to forecast the growth rate of an economy.
|
| 10 | Which one is not doing an economic activity. |
A. One who is offering prayers.
B. One who works for wage.
C. One who rents out his property .
D. One who is an employee of Government
|
Test Questions
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