Economics MCQS with Answers 1st Year Chapter 1

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Economics MCQS with Answers 1st Year
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Economics MCQS with Answers 1st Year


Everyone should study economics is a
positive statement
nonsense
true statement
normative statement

One of the following is not a part of macro economics.
Public finance
Consumer behaviour.
National income.
International trade.

Micro economics concentrates
on inflation
economics development of Pakistan
individual economics units
international economics relations

Scarcity of goods means
high price of goods
People don’t want to get such goods
non availability of goods
the good is available but it is not free

Marshall is his definition of economics
dislikes wealth
Praises Robbins
accuses Adam smith
uses the concept of material welfare

Adam smith was a
good sports man
a modern economist
President of France
classical economist

Loinel Robbins wrote a book entitled “Nature and Significance of economic science” in.
1776
1931
1936
1998

The basic economic problem to all societies is
elimination of scarcity
equal distribution of wealth
what how and for whom to produce
to develop agriculture

Three basic economics problems are
why, where and when
what, how and for whom
what, which and why
what, which and how much

Select the correct statement
Economics affects history
Economics affects politics
all of the above are true
Geography affects economics

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