Cambridge & Pearson Edexcel Past Paper Questions
Browse 35,704 questions from Cambridge O-Level & A-Level and Pearson Edexcel IGCSE & IAL exams. Click any question to practice.
Four students have to complete a table showing the functions of money. Which student is correct?
In which situation is the price elasticity of supply for a product most likely to be relatively low?
The diagram shows supply and demand for a good. If price increases from P₁ to P₂, what will happen to consumer surplus?
What can be concluded about the roles of demand and supply in a free market?
A firm has a successful advertising campaign for a good. Which combination shows the impact on demand or supply and the associated reason?
What would be the most likely reason for a firm's decision to calculate the price elasticity of demand for its product?
The cross-elasticity of demand of good S with respect to the price of good P is +1.5. The cross-elasticity of demand of good S with respect to the ...
Which statement about market disequilibrium is correct?
Which combination of tax changes is most likely to be regressive in a developed economy?
The demand and supply functions for a product are quantity demanded = 1500 + 50P and quantity supplied = 300P – 2000 where P = price. With governme...
To improve the air quality for its citizens, a government introduces a subsidy for the producers of cars powered by batteries charged from the elec...
What is definitely not involved when a transfer payment is made?
What is unlikely to occur with an increase in the provision of public goods?
In 2020, shops reported a fall in sales as domestic demand in an economy fell. However, the impact on the overall economy was not as unfavourable a...
What does a trade-weighted exchange rate attempt to take account of?
What will lead to an improvement in the terms of trade?
The diagram shows the annual inflation rate in an economy. What can be deduced from the graph?
A country operates a fixed exchange rate system. What will put pressure on the country to devalue its currency?
The table gives different combinations of possible values for a country's price elasticity of demand for exports and price elasticity of demand for...
A small country imposes no tariffs and has a perfectly elastic supply of smartphones from the rest of the world. Which statement is correct after t...
In a recent year, Japanese car manufacturers agreed to limit exports of cars to the USA. Which form of protectionism is this?
The diagram shows a shift in a country's short-run aggregate supply curve from SRAS₁ to SRAS₂. The country imports oil. Why might an increase in th...
What, if decreased, will help to reduce the rate of inflation?
What is an example of contractionary fiscal policy?
A country with low unemployment and a managed floating exchange rate has a persistent current account deficit on its balance of payments. Which pol...
Which factor of production is needed first in order to set up a new business?
Assuming nothing else changes, which change in an economy's labour market will cause the production possibility curve to shift to the left?
What is not a characteristic of a mixed economy?
What is not likely to result from the use of division of labour?
Price plays a number of functions in the allocation of resources. Which statement best illustrates the function that relies upon consumer choice (s...
Which pair of products are substitutes both in consumption and production?
There is a worldwide shortage of oil. The diagram shows the consumption and production of oil (billion tonnes) for selected countries. [Figure 7.1]...
The cross elasticity of demand between bus travel and rail travel is +2. A rise in the price of bus fares caused the demand for rail travel to rise...
A change in the price of a good causes an increase in the quantity of the good demanded. What would be the nature of the good and the direction of ...
A specific tax is placed upon each bottle of perfume sold. In the diagram, S is the supply curve before tax, St is the supply curve after tax. [Fig...
The diagram shows the supply curve of a firm. [Figure 11.1] Which statement about the price elasticity of supply (PES) along this curve is correct?
The diagram shows the market for electric cars with X as the initial equilibrium. What will be the new equilibrium when the price of electric car b...
What would cause a market disequilibrium?
In the diagram, area OP₁M1Q₁ is equal to area OP2M2Q2. [Figure 14.1] What is the value of the price elasticity of demand if the price is halved fro...
The table shows changes in a consumer's expenditure on various goods when her income increases from $20000 to $24000. [Table 15.1] Assuming all els...
Which combination of government measures is most likely to increase the consumption of a merit good?
The table contains some figures from the balance of payments account of the United States (US) for a given year. [Table 17.1] What cannot be conclu...
Which change is shown directly by the use of aggregate demand and aggregate supply analysis?
Why might aggregate demand increase when a country's price level falls?
What is used to convert nominal GDP to real GDP?
The diagram shows a basic two-sector circular flow of income. [Figure 21.1] What can be concluded about the direction of flows?
The table shows the types of unemployment and their possible solutions. [Table 22.1] Which combination is not correct?
Which combination of policies would be most effective in reducing a balance of payments current account surplus? [Table 23.1]
If a country is experiencing a period of high inflation, which groups will benefit the most from this? [Table 24.1]
What will definitely change a country's terms of trade? 1 when the price of imported raw materials increases 2 a change in inflation rates 3 an app...