The allocation of resources — IGCSE Economics (0987) questions by topic
How markets allocate scarce resources is tested here through price and quantity shifts, occupational immobility, and price elasticity of supply, mostly via single-mark multiple-choice items. Identify and calculate dominate the 12 questions on this page, drawn from 2025 papers, and every mark is a discrete fact or figure rather than a developed argument.
Because typical marks sit at just 1, there is no room to drift off the exact point being tested. Submit each answer for instant marking and you will see immediately whether your reasoning about supply, demand or mobility matches the mark scheme's precise wording.
May–June 2025, Paper 11
Good weather results in an increase in the demand for and supply of peaches. How will this affect the price and quantity traded in the market for peaches? price of peaches…
Answer this question and get it marked →The diagram shows demand and supply curves for a product at its equilibrium price P. The diagram has price on the vertical axis and quantity on the horizontal axis. There is an…
Answer this question and get it marked →The table shows the quantity demanded at different prices. price $ quantity demanded --- --- 6 3 5 4 4 5 3 7 2 9 For which fall in price is the demand price-inelastic? A from $6…
Answer this question and get it marked →The price elasticity of supply (PES) of coffee is calculated as +0.2 for the current year and +2.0 in the long run. Why is the PES of coffee higher in the long run? A Coffee…
Answer this question and get it marked →What would a person believe who wished to encourage the use of the market system? A people should have equal living standards B people should have freedom of action C profit…
Answer this question and get it marked →What will increase the level of specialisation in an economy? A A computer manufacturer takes over an advertising company. B A retail store issues its own credit card. C A travel…
Answer this question and get it marked →May–June 2025, Paper 12
Sanjay, a coal miner, became unemployed when the only local mine closed. He lives in a village near family and friends and would like to stay in the same village. What is the…
Answer this question and get it marked →The table shows the quantity of coffee demanded per day and the quantity supplied per day. price ($) per kilo demand (kilos) supply (kilos) --- --- --- 12 16 26 11 18 23 10 20 20…
Answer this question and get it marked →The diagrams show the demand curves for the only two buyers in a market. The first buyer's demand curve is a single straight downward-sloping line. The second buyer's demand curve…
Answer this question and get it marked →The diagram shows the market for ice cream and the effects of very hot weather. Demand shifts to the right from D1 to D2 along an upward-sloping supply curve S1; the equilibrium…
Answer this question and get it marked →The supply of which good is likely to be most price elastic? the good is easily stored time taken to produce the good --- --- --- A no one day B no one year C yes one day D yes…
Answer this question and get it marked →What is a characteristic of a demerit good? A it is more beneficial to the consumer than they realise B it is overconsumed in the free market C it is underproduced in the free…
Answer this question and get it marked →