Skip to content
AssessProPast papers & practice

IGCSE Economics past paper questions by topic

82 syllabus topics · 1,576 real questions from 0455 papers, sorted by the syllabus.
Practise 0455 with marking
  1. 10455.1.1.1 — finite resources and unlimited wants Definition and examples of the economic problem in the contexts of: consumers; workers; producers; and · The basic economic problem23 written
  2. 20455.1.1.2 — economic and free goods The difference between economic goods and free goods. · The basic economic problem19 written
  3. 30455.1.2.1 — definitions of the factors of production and Definitions and examples of land, labour, capital their rewards and enterprise. Examples of the · The basic economic problem48 written
  4. 40455.1.2.2 — mobility of the factors of production The influences on the mobility of the various factors. · The basic economic problem35 written
  5. 50455.1.2.3 — quantity and quality of the factors of The causes of changes in the quantity and quality production of the various factors. · The basic economic problem39 written
  6. 60455.1.3.1 — definition of opportunity cost Definition and examples of opportunity cost in different contexts. · The basic economic problem62 written
  7. 80455.1.4.1 — definition of PPC Definition, drawing and interpretation of appropriate diagrams. · The basic economic problem15 written
  8. 110455.1.4.4 — shifts in a PPC The causes and consequences of shifts in a PPC in terms of an economy’s growth. · The basic economic problem17 written
  9. 10455.2.1.1 — microeconomics The difference between microeconomics and. · The allocation of resources10 written
  10. 60455.2.3.1 — definition of demand Definition, drawing and interpretation of appropriate diagrams. · The allocation of resources16 written
  11. 70455.2.3.2 — price, demand and quantity A demand curve to be drawn and used to illustrate movements along a demand curve with appropriate terminology, fo · The allocation of resources8 written
  12. 90455.2.3.4 — conditions of demand The causes of shifts in a demand curve with appropriate terminology, for example increase and decrease in demand. · The allocation of resources39 written
  13. 100455.2.4.1 — definition of supply Definition, drawing and interpretation of appropriate diagrams. · The allocation of resources11 written
  14. 130455.2.4.4 — conditions of supply The causes of shifts in a supply curve with appropriate terminology, for example increase and decrease in supply. · The allocation of resources10 written
  15. 140455.2.5.1 — market equilibrium Definition, drawing and interpretation of demand and supply schedules and curves used to establish equilibrium price and · The allocation of resources24 written
  16. 150455.2.5.2 — market disequilibrium Definition, drawing and interpretation of demand and supply schedules and curves used to identify disequilibrium price · The allocation of resources8 written
  17. 180455.2.7.1 — definition of PED. · The allocation of resources6 written
  18. 190455.2.7.2 — calculation of PED Calculation of PED using the formula and interpreting the significance of the result. Drawing and interpretation of deman · The allocation of resources8 written
  19. 200455.2.7.3 — determinants of PED The key influences on whether demand is elastic or inelastic. · The allocation of resources11 written
  20. 210455.2.7.4 — PED and total spending on a product/ The relationship between PED and total spending revenue on a product/revenue, both in a diagram and as · The allocation of resources7 written
  21. 230455.2.8.1 — definition of PES. · The allocation of resources5 written
  22. 240455.2.8.2 — calculation of PES Calculation of PES using the formula and interpreting the significance of the result. Drawing and interpretation of suppl · The allocation of resources6 written
  23. 270455.2.9.1 — definition of market economic system. · The allocation of resources12 written
  24. 290455.2.10.1 — definition of market failure The key terms associated with market failure: public good, merit good, demerit good, social benefits, external · The allocation of resources39 written
  25. 300455.2.10.2 — causes of market failure With respect to public goods, merit and demerit goods, external costs and external benefits, abuse of monopoly powe · The allocation of resources23 written
  26. 320455.2.11.1 — definition of the mixed economic system. · The allocation of resources5 written
  27. 330455.2.11.2 — government intervention to address market Definitions, drawing and interpretation of failure appropriate diagrams showing the effects of thr · The allocation of resources43 written
  28. 10455.3.1.1 — money The forms, functions and characteristics of money. · Microeconomic decision makers32 written
  29. 20455.3.1.2 — banking The role and importance of central banks and commercial banks for government, producers and consumers. · Microeconomic decision makers14 written
  30. 40455.3.3.1 — factors affecting an individual’s choice of Wage and non-wage factors. occupation. · Microeconomic decision makers13 written
  31. 50455.3.3.2 — wage determination The influences of demand and supply, relative bargaining power and government policy, including minimum wage. · Microeconomic decision makers20 written
  32. 70455.3.3.4 — division of labour/specialisation Advantages and disadvantages for workers, firms and the economy. · Microeconomic decision makers8 written
  33. 90455.3.4.2 — the role of trade unions in the economy Including engaging in collective bargaining on wages, working hours and working conditions; protecti · Microeconomic decision makers6 written
  34. 110455.3.5.1 — classification of firms In terms of primary/secondary/tertiary sectors and private/public sector, and the relative size of firms. Note: deta · Microeconomic decision makers13 written
  35. 120455.3.5.2 — small firms The advantages and disadvantages of small firms, the challenges facing small firms and reasons for their existence. · Microeconomic decision makers5 written
  36. 140455.3.5.4 — mergers Examples, advantages and disadvantages of different types of mergers: horizontal, vertical, and conglomerate. · Microeconomic decision makers16 written
  37. 150455.3.5.5 — economies and diseconomies of scale How internal and external economies and diseconomies of scale can affect a firm/industry as the scale of · Microeconomic decision makers35 written
  38. 160455.3.6.1 — demand for factors of production Influences to include demand for the product, the price of different factors of production, their availabil · Microeconomic decision makers16 written
  39. 170455.3.6.2 — labour-intensive and capital-intensive The reasons for adopting the different forms production of production and their advantages and. · Microeconomic decision makers9 written
  40. 190455.3.7.1 — definition of costs of production Total cost (TC), average total cost (ATC), fixed cost (FC), variable cost (VC), average fixed cost (AFC), · Microeconomic decision makers32 written
  41. 230455.3.7.5 — objectives of firms Survival, social welfare, profit maximisation and growth. · Microeconomic decision makers7 written
  42. 240455.3.8.1 — competitive markets The effect of having a high number of firms on price, quality, choice, profit. Note: the theory of perfect and imperfect · Microeconomic decision makers33 written
  43. 250455.3.8.2 — monopoly markets Characteristics, advantages and disadvantages of monopoly. Note: diagrams are not required. · Microeconomic decision makers9 written
  44. 1The role of government · Government and the macroeconomy5 written
  45. 20455.4.2.1 — the macroeconomic aims of government Economic growth, full employment/low unemployment, stable prices/low inflation, balance of payments sta · Government and the macroeconomy9 written
  46. 40455.4.3.1 — definition of the government budget. · Government and the macroeconomy9 written
  47. 70455.4.3.4 — classification of taxes Examples of the different classifications of tax; progressive, regressive, proportional; and direct, indirect. · Government and the macroeconomy9 written
  48. 80455.4.3.5 — principles of taxation The qualities of a good tax. · Government and the macroeconomy5 written
  49. 90455.4.3.6 — impact of taxation The impact of taxation on consumers, producers, government and economy as a whole. Continued. · Government and the macroeconomy9 written
  50. 100455.4.3.7 — definition of fiscal policy. · Government and the macroeconomy7 written
  51. 110455.4.3.8 — fiscal policy measures The tax and spending changes, in the form of fiscal policy, that cause budget balance or imbalance. Including calcula · Government and the macroeconomy39 written
  52. 120455.4.3.9 — effects of fiscal policy on government How fiscal policy measures may enable the macroeconomic aims government to achieve its macroeconomic · Government and the macroeconomy8 written
  53. 130455.4.4.1 — definition of money supply and monetary policy. · Government and the macroeconomy28 written
  54. 140455.4.4.2 — monetary policy measures Changes in interest rates, money supply and foreign exchange rates. · Government and the macroeconomy7 written
  55. 150455.4.4.3 — effects of monetary policy on government How monetary policy measures may enable the macroeconomic aims government to achieve its macroecono · Government and the macroeconomy6 written
  56. 160455.4.5.1 — definition of supply-side policy. · Government and the macroeconomy6 written
  57. 170455.4.5.2 — supply-side policy measures Possible supply-side policy measures include education and training, labour market reforms, lower direct taxes, · Government and the macroeconomy19 written
  58. 180455.4.5.3 — effects of supply-side policy measures on How supply-side policy measures may enable the government macroeconomic aims government to achieve · Government and the macroeconomy6 written
  59. 190455.4.6.1 — definition of economic growth. · Government and the macroeconomy14 written
  60. 200455.4.6.2 — measurement of economic growth Real Gross Domestic Product (GDP) and how it can be used to measure economic growth. GDP per head (capita). · Government and the macroeconomy20 written
  61. 210455.4.6.3 — causes and consequences of recession Meaning of recession and how a recession moves the economy within its PPC. · Government and the macroeconomy10 written
  62. 220455.4.6.4 — causes of economic growth How changes in total demand may increase the utilisation of resources and GDP – resulting in a movement from insid · Government and the macroeconomy8 written
  63. 250455.4.7.1 — definition of employment, unemployment and full employment. · Government and the macroeconomy19 written
  64. 260455.4.7.2 — changing patterns and level of employment The nature and causes of changes in the pattern of employment, for example increase in proportion · Government and the macroeconomy12 written
  65. 270455.4.7.3 — measurement of unemployment How unemployment is measured – claimant count and labour force survey – and the formula for the unemployment rat · Government and the macroeconomy9 written
  66. 280455.4.7.4 — causes/types of unemployment Frictional, structural and cyclical unemployment. · Government and the macroeconomy8 written
  67. 290455.4.7.5 — consequences of unemployment The consequences of unemployment for the individual, firms and the economy as a whole. · Government and the macroeconomy12 written
  68. 300455.4.7.6 — policies to reduce unemployment The range of policies available to reduce unemployment and how effective they might be. · Government and the macroeconomy11 written
  69. 310455.4.8.1 — definition of inflation and deflation. · Government and the macroeconomy12 written
  70. 320455.4.8.2 — measurement of inflation and deflation Measurement of inflation and deflation using the Consumer Prices Index (CPI). · Government and the macroeconomy8 written
  71. 330455.4.8.3 — causes of inflation and deflation Causes of inflation: demand-pull and cost-push. Causes of deflation: demand-side and supply-side. · Government and the macroeconomy14 written
  72. 340455.4.8.4 — consequences of inflation and deflation The consequences of inflation and deflation for consumers, workers, savers, lenders, firms and the e · Government and the macroeconomy11 written
  73. 5Economic development142 written · 122 multiple choice
  74. 10455.6.1.1 — specialisation at a national level The basis for specialisation at national level in broad terms of: superior resource allocation and/or che · International trade and globalisation22 written
  75. 20455.6.1.2 — advantages and disadvantages of For consumers, firms and the economy. specialisation at a national level. · International trade and globalisation8 written
  76. 30455.6.2.1 — definition of globalisation. · International trade and globalisation5 written
  77. 40455.6.2.2 — role of multinational companies (MNCs) MNCs and the costs and benefits to their host and home countries. · International trade and globalisation9 written
  78. 50455.6.2.3 — the benefits of free trade The benefits for consumers, producers and the economy in a variety of countries. · International trade and globalisation19 written
  79. 60455.6.2.4 — methods of protection Tariffs, import quotas, subsidies and embargoes. · International trade and globalisation23 written
  80. 90455.6.3.1 — definition of foreign exchange rate Floating and fixed systems. · International trade and globalisation36 written
  81. 140455.6.4.1 — structure The components of the current account of the balance of payments – trade in goods, trade in services, primary income and secondary · International trade and globalisation25 written
  82. 150455.6.4.2 — causes of current account deficit and surplus Reasons for deficits and surpluses. · International trade and globalisation8 written

Questions are matched to topics from the official syllabus. Past papers and syllabus © UCLES; AssessPro is independent of Cambridge.

IGCSE Economics 0455 past paper questions by topic | AssessPro