IGCSE Economics (0455) — May–June 2023, Paper 13
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →GDP per capita in Switzerland is high. What is the reason why Swiss citizens still face the basic economic problem? A Income in Switzerland is unevenly distributed. B Inflation in…
Answer this question and get it marked →The production possibility curve of a country has shifted from PPC1 to PPC2. What could have caused this shift? A a decrease in the rate of unemployment B a fall in the birth rate…
Answer this question and get it marked →What is most likely to increase the geographical mobility of labour? A an increase in the amount of credit available to firms B an increase in the quantity of low-cost housing C…
Answer this question and get it marked →What is not a microeconomic decision? A A firm decides to increase the price of its product. B A government decides to increase interest rates. C A household decides to reduce its…
Answer this question and get it marked →What is a feature of a market in equilibrium? A demand exceeds supply B no profits are earned C the market will clear D there will be a surplus of products
Answer this question and get it marked →The diagram shows the supply curve for a good. What is the name and cause of the movement from X to Y? A a contraction of supply caused by a decrease in demand B a contraction of…
Answer this question and get it marked →In the diagram, which supply curve has the perfectly inelastic supply? A curve A B curve B C curve C D curve D
Answer this question and get it marked →The diagram shows the market for petrol (gasoline). SP is the supply of petrol based on the private cost of petrol production and SS is the supply of petrol based on the social…
Answer this question and get it marked →In a given year, the world output of coal was 3.94 billion metric tonnes at an average yearly price of $252 per metric tonne. Several years later, world output was 3.66 billion…
Answer this question and get it marked →A government believes that people eat too much sugar but not enough fruit. Which combination of policies would the government introduce? sugar fruit --- --- --- A increase its tax…
Answer this question and get it marked →Which row shows a characteristic of money and a function of money? characteristic function --- --- --- A acceptability medium of exchange B cash measure of value C divisibility…
Answer this question and get it marked →When will a central bank act as lender of last resort to a commercial bank? A when a commercial bank faces a liquidity crisis B when a commercial bank fails to make a profit C…
Answer this question and get it marked →What is likely to increase the bargaining power of a trade union? A when the economy is experiencing rising cyclical unemployment B when the labour market moves from long-term to…
Answer this question and get it marked →What is a likely reason why firms do not grow in size? A External diseconomies of scale occur at high levels of output. B Internal economies of scale occur at high levels of…
Answer this question and get it marked →The table shows the activities of four firms. firm 1 firm 2 firm 3 firm 4 --- --- --- --- shoe manufacture website design shoe manufacture shoe retailer Which combination of firms…
Answer this question and get it marked →What is a reason why firms making similar products sometimes locate near each other? A Competition is decreased. B There are external economies of scale. C There are internal…
Answer this question and get it marked →A government wishes to increase its spending on public goods. Which sector should have a spending increase to achieve this? A education B healthcare C national defence D railways
Answer this question and get it marked →Which government measure would lead directly to more exports of goods? A a devaluation of the currency B a restriction of bank credit creation C an increase in the rate of…
Answer this question and get it marked →A government wishes to stimulate economic recovery. Which action will assist this? A decreasing government investment B decreasing income tax C increasing indirect taxation D…
Answer this question and get it marked →What is the most likely effect on an economy of a successful supply-side policy? A an increase in the general price level B an increase in the interest rate C an increase in the…
Answer this question and get it marked →A country is experiencing high economic growth caused by an increase in consumer spending. What are the most likely effects on inflation and unemployment? A inflation falls and…
Answer this question and get it marked →Which pair is most likely to be provided by the private sector in a mixed economy? A courts and prisons B hospitals and tax collection C insurance and banks D weapon manufacture…
Answer this question and get it marked →An economy is experiencing a sustained fall in the general price level. Which term is used to describe this? A deflation B depreciation C market disequilibrium D recession
Answer this question and get it marked →What is most likely to cause an increase in relative poverty? A an increase in state benefits B an increase in the national minimum wage C pension increases below the rate of…
Answer this question and get it marked →What might explain the high population growth in some developing countries? A high birth rates and falling death rates B low immigration and high emigration C falling birth rates…
Answer this question and get it marked →Which combination of factors might cause a country to be classified as developing rather than developed? A a government budget deficit and a low death rate B a high birth rate and…
Answer this question and get it marked →What is certain to encourage a higher level of international trade? A conservation of resources and unstable exchange rates B exploitation of resources and wider use of quotas C…
Answer this question and get it marked →The import of a product from another country has been banned. Which term describes this method of protection? A embargo B exchange control C quota D tariff
Answer this question and get it marked →A developing country's two major sources of income from international trade are fishing and tourism. If the country's exchange rate depreciated, what is likely to happen? A…
Answer this question and get it marked →What is the correct formula for calculating the current account of the balance of payments? A balance of trade in goods + balance of trade in services + primary income balance +…
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