IGCSE Economics (0455) — May–June 2025, 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 not a factor of production? A a 10 dollar note B a farm labourer C a farm shop D a tractor
Answer this question and get it marked →A person works at home making small cakes. She can make 30 cakes an hour and works for four hours a day. The total cost of the ingredients is $50 and she sells the cakes for $2…
Answer this question and get it marked →An economy produces different types of goods using its limited resources. This can be illustrated by a production possibility curve (PPC). The diagram shows a PPC with consumer…
Answer this question and get it marked →What is the function of the price mechanism in a market economy? A allocating resources and guiding choices B allowing governments to provide price stability C enabling markets to…
Answer this question and get it marked →The table shows the demand and supply schedules for rice. The current price is $2.00 per kilo. price per kilo $ quantity demanded (million tonnes) quantity supplied (million…
Answer this question and get it marked →The diagram shows the market for cherries in Chile. The diagram has price on the vertical axis and quantity on the horizontal axis. An upward-sloping supply curve S and two…
Answer this question and get it marked →A German car producer estimates the price elasticity of demand (PED) for its cars is -2.0. What can be concluded from this information? A its cars are price elastic B its cars are…
Answer this question and get it marked →The diagrams show the supply curves of four firms. Which firm has a price elasticity of supply of greater than zero but less than one? Each option shows price on the vertical axis…
Answer this question and get it marked →Which combination correctly describes features of a market economic system? resource allocation ownership of land and capital --- --- --- A by government private sector B by…
Answer this question and get it marked →A country's central bank raised the rate of interest from 1% to 4% per year. How would this change have affected the amount saved and the cost of borrowing by individuals? amount…
Answer this question and get it marked →What is a non-wage factor influencing an individual's choice of occupation? A the availability of overtime work B the hourly rate of pay C the opportunity to get a financial bonus…
Answer this question and get it marked →Workers in the secondary sector of an economy earn more on average than workers in the tertiary sector. Which combination will most likely increase differences in wages between…
Answer this question and get it marked →A manufacturing firm increases the scale of its production. Its average total cost (ATC) curve in the long run is shown below. The diagram shows cost on the vertical axis and…
Answer this question and get it marked →What is most likely to increase the demand for labour in an industry? A a decrease in the price of capital used by the industry B a decrease in the productivity of labour in the…
Answer this question and get it marked →A firm has fixed costs of $100 for its daily output. The table shows its daily total variable costs. output (units) 1 2 3 4 --- --- --- --- --- total variable costs ($) 200 360…
Answer this question and get it marked →A market changes from being very competitive to being a monopoly. What is likely to happen to output and price in this market? output price --- --- --- A decrease decrease B…
Answer this question and get it marked →What is the most likely reason for a government to aim for price stability? A to improve international competitiveness B to increase workers' wage demands C to reduce consumer…
Answer this question and get it marked →A country's unemployment rate increased from 3.6% to 4.2% in one year. What might be the consequences for tax revenues and welfare payments? tax revenues welfare payments --- ---…
Answer this question and get it marked →In a country, some highly-paid workers reduce their working hours because of very high income tax rates at higher levels of income. What is a disadvantage of this income taxation?…
Answer this question and get it marked →What is most likely to be a reason for taxing oil? A to conserve oil resources B to create employment C to encourage economic growth D to reduce oil prices
Answer this question and get it marked →Brazil's real GDP fell by 3.8% in a year. What might have caused this? A a decrease in imports B a decrease in income tax C an increase in interest rates D an increase in output…
Answer this question and get it marked →Factory owners invest in technologically-advanced industrial production by building new large-scale, energy-efficient factories. What is a negative consequence of this for local…
Answer this question and get it marked →Country X measures unemployment by counting the number of people claiming unemployment benefit. Why might this method underestimate the level of unemployment? A Some benefit…
Answer this question and get it marked →What is likely to cause deflation? A higher employment B higher production costs C increased money supply D technological advances
Answer this question and get it marked →What is the most likely reason that an improved standard of education will alleviate poverty? A It will decrease the productivity of workers. B It will decrease the rate of…
Answer this question and get it marked →What will increase a country's population, all other things being equal? A a rise in emigration B a rise in immigration C death rates higher than birth rates D decreased life…
Answer this question and get it marked →Country Y decides to specialise in the domestic mining of rare metals required in the production of electric-car batteries. What is a likely benefit of this for country Y? A…
Answer this question and get it marked →The UK government increases the price of steel imported from Germany by increasing an existing tariff. Assuming steel has price-inelastic demand, what would be the effect on the…
Answer this question and get it marked →The table shows the value of the UK pound (£) against the US dollar ($) in June and September. June September --- --- £1 = $1.48 £1 = $1.32 What will be the likely consequence for…
Answer this question and get it marked →The table shows a selection of economic data for a country. $m --- --- primary income 1000 secondary income -500 total value of exported goods 1000 total value of imported goods…
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