ICSE Class 9 Economics by Pavan | Practice Test to Test Your Knowledge
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ICSE Class 9 Economics

ICSE Class 9 Economics

Detailed mock test covering Basic Economic Concepts and Economic Systems. Includes theoretical and application-based questions.

2025-07-19
Pavan Pavan
Economics ICSE Grade 9 Class 9

Duration

30 min

Questions

30

Marking

Negative

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Questions Preview

According to Adams, Economics is the study of?

A
Wealth and its distribution
B
Human behavior in society
C
Scarcity and choice
D
The production and consumption of goods

According to Robbins, Economics is the study of?

A
Wealth
B
Human behavior as a relationship between ends and scarce means
C
The production of goods
D
The allocation of resources

Keynes' definition of economics is?

A
Study of wealth
B
Study of how resources are allocated
C
Study of income and employment
D
Study of the business cycle

According to Samuelson, Economics is the study of?

A
Production, distribution, and consumption
B
How people and society use limited resources
C
The national economy
D
Behavioral economics

What is Microeconomics concerned with?

A
Study of the economy as a whole
B
Study of individual markets and consumers
C
Study of government policies
D
Study of international trade

Macroeconomics deals with?

A
Individual markets and firms
B
The overall economic activity
C
Consumer behavior
D
Government expenditure

Which of the following is a type of economic activity?

A
Production
B
Consumption
C
Exchange
D
All of the above

Which of the following is NOT an example of productive activity?

A
Farming
B
Teaching
C
Banking
D
Playing sports

The Primary Sector of the economy involves?

A
Agriculture, fishing, and mining
B
Manufacturing and construction
C
Banking and finance
D
Retail and wholesale trade

The Secondary Sector of the economy involves?

A
Agriculture and mining
B
Manufacturing and construction
C
Education and healthcare
D
Trade and commerce

The Tertiary Sector of the economy involves?

A
The production of raw materials
B
Manufacturing of goods
C
Services like healthcare, education, and finance
D
Transport and communication

Which of the following is a basic economic term?

A
Opportunity cost
B
Utility
C
Scarcity
D
All of the above

What does the term 'scarcity' refer to?

A
An abundance of goods
B
A shortage of resources
C
Equitable distribution of wealth
D
High demand for goods

What does 'opportunity cost' refer to?

A
The cost of the next best alternative foregone
B
The cost of producing goods
C
The cost of resources used in production
D
The cost of living

What does 'utility' refer to in economics?

A
The satisfaction or benefit derived from consuming goods and services
B
The total income of an individual
C
The cost of producing goods
D
The rate of return on investment

What does 'demand' refer to in economics?

A
The quantity of a good that consumers are willing and able to purchase at different prices
B
The total supply of goods in the market
C
The quantity of goods produced
D
The rate at which goods are consumed

Which of the following is NOT a type of economic entity?

A
Households
B
Firms
C
Governments
D
Welfare societies

In economics, the term 'firm' refers to?

A
An individual consumer
B
A government agency
C
A business organization that produces goods or services
D
A nonprofit organization

Which of the following is an example of a public sector entity?

A
Private businesses
B
National banks
C
Retailers
D
Multinational corporations

In economics, a market is?

A
A physical location where goods are sold
B
A system for the exchange of goods and services
C
A group of consumers
D
A network of manufacturers

Which sector involves the exchange of raw materials and semi-finished goods?

A
Primary sector
B
Secondary sector
C
Tertiary sector
D
Quaternary sector

What is a key feature of the tertiary sector?

A
Production of raw materials
B
Manufacturing of goods
C
Provision of services
D
Consumption of goods

The term 'microeconomics' primarily refers to the study of?

A
The behavior of individual consumers and firms
B
The overall performance of the economy
C
International trade
D
Monetary policy

Which of the following is a basic economic problem?

A
Unemployment
B
Scarcity of resources
C
Inflation
D
International trade deficits

What does 'economic growth' refer to?

A
Increase in the production of goods and services
B
Decrease in inflation rates
C
Increase in government spending
D
Decrease in unemployment

What does 'opportunity cost' refer to in economics?

A
The benefit of the next best alternative foregone
B
The total cost of production
C
The cost of government intervention
D
The cost of consumer behavior

Which of the following describes a market economy?

A
An economy controlled by the government
B
An economy where goods and services are produced based on supply and demand
C
An economy that focuses only on industrial production
D
An economy based on barter

Which of the following is an example of a public sector entity?

A
Private businesses
B
National banks
C
Retailers
D
Multinational corporations

Which of the following is an example of a private sector entity?

A
Government departments
B
Banks and financial institutions
C
Private businesses and companies
D
Public corporations

Which sector primarily involves the extraction of raw materials?

A
Primary sector
B
Secondary sector
C
Tertiary sector
D
Quaternary sector