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.
The diagram represents the market for diamonds. [Figure 6.1] What could have caused price to change from P₁ to P₂?
How is the market supply of a product in a competitive market obtained?
The diagram shows the demand for a product for which there are only three buyers, Freeman, Hardy and Willis. [Figure 8.1] The table shows the deman...
The diagram shows the demand and supply curves for tractors. The present equilibrium is at X. [Figure 9.1] What could be the new equilibrium if the...
The diagram shows a country's domestic supply of, and demand for, a commodity that it both consumes and exports. [Figure 10.1] The world price chan...
The diagram shows the market for sugar which is in equilibrium at a price of OP. [Figure 11.1] A government then fixes a maximum price of OP₁. What...
A consumer needed a new camera and a new armchair. She was prepared to spend $500 on one item. She discovered that the camera cost $450 and the arm...
In which set of circumstances will prices play no part in determining how resources are allocated between alternative uses but may still have a rol...
A good is produced which consumers are unable to avoid consuming. What type of good is this?
A government introduces a subsidy to reduce the price of heating oil, maximum rents for apartments and a national minimum wage rate. Who is meant t...
In the diagram, D is the demand curve for a commodity. S₁ and S₂ are the supply curves before and after an intervention by the government. [Figure ...
The table shows the ability of two countries, P and Q, to produce two goods, Y and Z. [Table 19.1] Which statement is correct?
What is the least likely outcome for participating countries of a move towards freer trade?
A country joins a trade organisation, where the only requirements are that member countries adopt identical tariff rates towards non-members and no...
In Australia in 2005 a shipload of exported iron ore paid for 2200 imported flatscreen TVs. In 2010 the same size shipload paid for 22 000 imported...
A country has a population of 500 million. 15 million people are unemployed and the country has an unemployment rate of 6%. What is the size of the...
The diagram illustrates what happens to aggregate demand (AD) and aggregate supply (AS) in an economy during a year. [Figure 24.1] What explains th...
What would increase both demand-pull and cost-push inflation?
A UK resident buys shares in a Spanish company. What will be the immediate and subsequent effects on the UK's balance of payments? [Table 26.1]
The table gives details of some parts of a country's balance of payments. [Table 27.1] In which year did the country have its largest trade deficit?
An economy has a high level of unemployment and a large balance of payments deficit on the current account. What would be a suitable policy for the...
Which statement about the problem of scarcity is correct?
A firm is considering whether to buy a piece of capital equipment which will cost $2000. It estimates that the equipment will last for two years. T...
The diagram shows the production possibility curve XX of an economy that produces consumer goods and capital goods. If the economy moves from point...
Arfan and his brother Ben own and run a fishing business together. They have one employee, Cephas, who helps on the days when they fish. They emplo...
The market price of a product rose from $8 to $10 and as a result the market demand fell from 20000 to 8000 a week. Consumer X's demand declined fr...
The price of good X rises by 10%. As a result, the demand for a substitute good Y rises by 20%. What is the cross-elasticity of demand for good Y w...
The diagram shows the supply curve of coffee in an economy. The market equilibrium is initially at point X, but a change moves it to point Y. What ...
In the diagram OS₁ and OS₂ are two straight-line supply curves. As price increases, the elasticity of supply
In which case will a given increase in the supply of a good cause the greatest fall in the price of the good?
Which combination of changes would enable the price mechanism to allocate resources more efficiently in a monopoly market?
A firm wishes to build a factory extension. Permission is required from the government because the extension may increase
The diagram shows the private and social costs and benefits that arise from the consumption and production of a good. If there is no government int...
The diagram shows the demand for and supply of a foreign-made mobile (cell) phone where the initial position in the domestic market is X. Importers...
The government imposes a maximum price of P₂ on a product. What will be the position after this action?
What is an effect on a country of free trade?
What is meant by dumping in international trade?
As a result of a trade agreement, toys produced in Africa can be supplied to European markets. These toys are much cheaper than similar toys produc...
Which international transaction is correctly matched to the part of the balance of payments account in which it is recorded?
The diagram shows annual average labour productivity growth for three groups of countries during two time periods. Which activity in which country ...
The diagram, which shows part of the process that causes the aggregate demand curve to slope downwards to the right, is incomplete. Which words cor...
The graph shows the rate of inflation in a country in a 5 year period. What can be concluded from the graph?
What might explain an increase in the volume of a country's imports?
What is the most likely consequence of an increase in a country's balance of payments deficit?
Which economic change might contribute to both cost-push and demand-pull inflation?
The diagram shows the market for Japanese Yen. What could have caused the change in the supply of Yen from S₁ to S₂?
To reduce a deficit on the current account of the balance of payments, a government introduces a limit on the foreign exchange its people and firms...
Which question does not directly refer to the basic economic problem?
The diagram shows the change in an economy's production possibility curve as it grows in the long run. Which movement from point X is most likely t...
What term is used by economists for the income received by the factor of production enterprise?