IGCSE Economics (0987) — May–June 2024, Paper 11
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →What is a free good? A free samples of a new product B health services provided by the state C second-hand clothing D sunlight
Answer this question and get it marked →A firm is deciding whether to produce good X or good Y for the next five years. The predicted revenue for good X is $20 000 per year and for good Y is $18 000 per year. What is…
Answer this question and get it marked →The diagram shows a production possibility curve (PPC) for an economy, with good Y on the vertical axis and good X on the horizontal axis. Points M and N both lie on the same PPC,…
Answer this question and get it marked →What is not held constant when drawing a demand curve for a good or service? A consumers' incomes B tastes and preferences C the price of substitutes D the price of the good or…
Answer this question and get it marked →The diagram shows a shift in the supply curve for New Zealand's airlines from S1 to S2, where S2 lies to the right of (below) S1 (price on the vertical axis, quantity on the…
Answer this question and get it marked →What could cause the price of tea to increase? A decrease in the demand for tea B decrease in the price of a substitute good C increase in the price of a substitute good D…
Answer this question and get it marked →A firm changes the price of its product and finds that its revenue increases. Which combination of price change and price elasticity of demand would have caused this? price price…
Answer this question and get it marked →What could not occur in a market economic system? A a monopolist supplying specialist goods to the market B excessive pollution created by power stations C governments setting…
Answer this question and get it marked →What is a correct definition of a demerit good? A a good which generates external benefits B a good with higher private costs than social costs C a good which is more harmful to…
Answer this question and get it marked →Within the same firm, one employee is paid a higher wage than another employee. Which reason for the difference in their wage could be considered discrimination? A They are of…
Answer this question and get it marked →The diagram shows the demand and supply curve of labour for a firm. The initial wage rate is W0 and the equilibrium quantity of labour employed is L0. A trade union representing…
Answer this question and get it marked →A farmer introduces machinery to help workers at harvest time. The farmer also reduces the number of workers by 50%. As a result, the total harvest increases by 25%. What has…
Answer this question and get it marked →A firm has fixed costs of $20 and the following total variable costs. output 10 20 30 40 --- --- --- --- --- total variable costs ($) 40 60 80 100 What happens to average total…
Answer this question and get it marked →The table shows the costs and output of a firm. total cost $10 000 --- --- total variable cost $8000 quantity 10 What is the average fixed cost of the firm? A $200 B $800 C $1000…
Answer this question and get it marked →A clothing manufacturer expands by taking over a clothing retailer. Which type of merger is this? A backward vertical B conglomerate C forward vertical D horizontal
Answer this question and get it marked →What is likely to happen if a previously competitive market becomes a monopoly? barriers to entry economies of scale the size of the firm --- --- --- --- A decrease decrease…
Answer this question and get it marked →Which macroeconomic aim, if achieved, is most likely to increase a government budget surplus? A full employment B income redistribution C low inflation D balance of payments…
Answer this question and get it marked →The table shows the income tax rate paid by workers at different levels of income in selected years for a developed economy. income band ($) tax rate year 1 (%) tax rate year 2…
Answer this question and get it marked →A government attempts to raise economic growth with a policy of reduced interest rates. Which other government objective is most likely to be helped in the short run? A lower…
Answer this question and get it marked →What is the definition of a supply-side policy? A any policy designed to decrease inflation B any policy designed to decrease unemployment C any policy designed to increase…
Answer this question and get it marked →Subsistence farming is the practice of growing crops and raising livestock sufficient only for one's own use without any surplus for trade. Why is it difficult for a government to…
Answer this question and get it marked →What is necessary for a worker to be classified as unemployed? the worker does not have a paid job the worker is prepared to work the worker will accept the current wage rate ---…
Answer this question and get it marked →What is most likely to increase when the rate of inflation gradually changes from 2% to 8% in one year? A the cost of updating existing price lists B the level of business…
Answer this question and get it marked →The introduction of a minimum hourly wage in an industry aims to reduce poverty among low-paid workers. What is an advantage to workers of an effective national minimum wage? A…
Answer this question and get it marked →The chart shows the population pyramid for a country: the bars are widest at the top (older age groups 71-90) and narrowest at the bottom (youngest age groups 0-10), indicating…
Answer this question and get it marked →The table shows information on four countries. Which country is likely to be the most developed? population (million) Gross Domestic Product (GDP) ($ billion) life expectancy…
Answer this question and get it marked →What is an advantage to a firm of specialisation at a national level? A dependency on supplies from other countries B greater competition from overseas firms C greater depletion…
Answer this question and get it marked →What is an intended outcome of protecting infant industries from free trade? A to decrease the competitiveness of domestic firms B to decrease the demand for exported goods C to…
Answer this question and get it marked →In the diagram, curves D1 and S1 relate to the demand and supply of the US dollar ($) against the Chinese yuan (price of $ in yuan on the vertical axis, quantity on the horizontal…
Answer this question and get it marked →Brazil had a balance of payments current account deficit of US$23.5 billion. Which policy is most likely to reduce the current account deficit in Brazil? A depreciate Brazil's…
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