IGCSE Economics (0455) — October–November 2024, Paper 13
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →What is the cause of the economic problem facing the global market for gold? A Consumer wants for gold are limited. B Gold is a limited resource. C Only governments can sell gold.…
Answer this question and get it marked →The management of an airline decided to replace its aeroplanes with more technologically advanced aircraft. At the same time, the company retrained its pilots. Which factors of…
Answer this question and get it marked →The diagram shows the choices for an individual between leisure and earnings. What is the opportunity cost to the individual of the extra earnings when moving from position X to…
Answer this question and get it marked →The world price of cocoa has been falling while the prices of products made from cocoa have been rising. Which combination might explain this? market for cocoa advertising…
Answer this question and get it marked →The table shows the amounts demanded and supplied of tomatoes at different prices. The initial equilibrium is at a price of $40. price ($) demand (kg) supply (kg) --- --- --- 10…
Answer this question and get it marked →A fall in which variable would help eliminate a market shortage? A quantity demanded B price C quantity supplied D the number of firms
Answer this question and get it marked →When the price of meat increased from $5 to $6 per kg, Joe decreased his purchase of meat from 40 kg to 20 kg a month. What was Joe's price elasticity of demand for meat? A 0.4 B…
Answer this question and get it marked →In the diagram, which line represents perfectly inelastic supply? A line A B line B C line C D line D
Answer this question and get it marked →What is external benefit? A private benefits minus private costs B private benefits plus social benefits C social benefits minus private benefits D social benefits plus social…
Answer this question and get it marked →What is a function of a commercial bank? A accepting deposits B controlling money supply C issuing notes and coins D lending money to the government
Answer this question and get it marked →Under which circumstances are households more likely to save? inflation rate interest rate unemployment rate --- --- --- --- A high high high B high high low C low high low D low…
Answer this question and get it marked →A country wishes to increase the supply of nurses. What would be the most effective way of achieving this? A extending the training period for nurses B improving the working…
Answer this question and get it marked →Employers based in large cities often pay employees special allowances above standard pay rates. What is the most likely reason for this? A Job security and promotion prospects…
Answer this question and get it marked →Workers in a country have been concerned about their wages not keeping pace with inflation. How can trade unions assist workers in getting a pay rise? A advise the workers to ask…
Answer this question and get it marked →How is total revenue calculated? A price divided by the total output B total output divided by the price C total output multiplied by the price D total output multiplied by total…
Answer this question and get it marked →There is a number of cafés selling snacks and drinks in a city centre. Several of these cafés close due to their owners retiring. What is the likely effect on the prices and…
Answer this question and get it marked →What is a macroeconomic aim of government? A equilibrium prices in markets B high wages C low inflation D profit maximisation
Answer this question and get it marked →The table shows earnings and total income tax paid per year. earnings $ total income tax paid $ --- --- 5000 1000 8000 2000 9000 3000 Which type of tax system does this…
Answer this question and get it marked →What is an example of monetary policy? A an increase in government spending B an increase in indirect taxation C an increase in rules and regulations D an increase in the money…
Answer this question and get it marked →What is Gross Domestic Product (GDP) divided by in order to calculate GDP per head? A the adult population B the dependent population C the total population D the working…
Answer this question and get it marked →What is the consequence of economic growth for individuals and for the economy? individuals the economy --- --- --- A increase in absolute poverty increase in inflation B increase…
Answer this question and get it marked →What does the labour force survey (LFS) measure? A the number of workers on the national minimum wage B the proportion of women in the labour force C the unemployed population D…
Answer this question and get it marked →The table shows the weights allocated to the three items in a Consumer Prices Index (CPI) for two years. item weights year 1 weights year 2 --- --- --- food 30 35 clothing 20 15…
Answer this question and get it marked →A government increases the rate of progressive income tax and its spending on hospitals. What is likely to happen to the distribution of income and to living standards?…
Answer this question and get it marked →The population pyramids for country 1 and country 2 in a given year are shown. What can be deduced from these population pyramids? A Country 1 has a greater population size than…
Answer this question and get it marked →Which country would be classified as the most developed based on the data in the table? gross domestic product per year ($m) population (millions) --- --- --- A 600 3 B 700 2 C 12…
Answer this question and get it marked →What encourages international specialisation? A a foreign exchange shortage B diseconomies of scale C free trade D quotas
Answer this question and get it marked →A country wants to limit the number of imported cars to a maximum of 100 000 in a year. Which measure is most likely to achieve this objective? A an embargo B an import quota C an…
Answer this question and get it marked →The diagram shows a change in the exchange rate for the Indian rupee against the US$. What could cause the change in the exchange rate? A a decrease in the rate of inflation in…
Answer this question and get it marked →Country X records these selected items in the current account of its balance of payments. - Country X exports $200m of goods. - Country X imports $50m of services. - Country Y's…
Answer this question and get it marked →← October–November 2024 Paper 21 · October–November 2024 Paper 12 →