IGCSE Economics (0987) — May–June 2023, Paper 22

5 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.

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Question 1 · 30 marks

Using the Guyana fact file, calculate the number of people living in poverty in Guyana in 2020. Show your working. [1]

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Question 2 · 20 marks

In Thailand, banks have been merging. Identify two influences on a consumer's choice of bank. [2]

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Question 3 · 20 marks

The private sector dominates Canada's economy. Identify two objectives of a private sector firm. [2]

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Question 4 · 20 marks

In Australia, a national minimum wage (NMW) is set by the government. Identify two reasons why a government may set a national minimum wage. [2]

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Question 5 · 20 marks

Identify the opportunity cost of: (i) households spending their income on consumer goods, and (ii) firms exporting goods rather than selling them in the domestic market. [2]

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