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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
Wealth of Nations was written in
Question # 2
Everyone should study economics is a
Question # 3
Economic problems arises because of.
Question # 4
Which one is the non-economic activity.
Question # 5
Which laws are always subjected to certain conditions.
Question # 6
Scarcity means
Question # 7
The products which are not priced in the market are called .
Question # 8
Economics is a science which studies.
Question # 9
Wants are unlimited for:
Question # 10
Economic laws can be define as .
Question # 11
Who was the exponent of macro economics in recent times.
Question # 12
Select the correct statement
Question # 13
Economics problems arise because of
Question # 14
Which one is not doing an economic activity.
Question # 15
Marshall wrote the book
Question # 16
Scarcity of goods means
Question # 17
Economics laws
Question # 18
Marshall is his definition of economics
Question # 19
Micro economics concentrates
Question # 20
Which type of problems are brought under discussion 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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A Anila Zaib 10 - May - 2024 12 Min 27 Sec 15/20
ICS Part 1 Economics Chapter 1 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Ceteris paribus means |
A. other things equal
B. all variable are independent
C. all relationships are inverse
D. that no other assumptions are made
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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 | Three basic economics problems are |
A. what, how and for whom
B. why, where and when
C. what, which and how much
D. what, which and why
|
| 4 | 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
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| 5 | Basic economic problem is |
A. inflation
B. unemployment
C. scarcity
D. lack of money
|
| 6 | Which statement relates to macroeconomics |
A. Oil prices are rising in Pakistan
B. Profit rate is high in textile industry
C. The firms try to make huge profits
D. The government had failed to control inflation
|
| 7 | Economics problems arise because of |
A. greed
B. scarcity
C. dishonesty
D. laziness
|
| 8 | Micro economics concentrates |
A. on inflation
B. international economics relations
C. individual economics units
D. economics development of Pakistan
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| 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 | 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
|
Test Questions