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.
A firm wishes to avoid attracting competition from new entrants. It charges the maximum price that is consistent with this aim.
In which market structure will the industry price be unaffected by a change in the output of one individual firm?
In 2015 the price of oil fell dramatically. As a result, 65000 jobs were lost in the North Sea oil industry.
An actor is paid $100000 a year. The next best paid job he could get is as a lecturer at $60000 a year.
What is not an outcome of the existence of private property rights?
A state-owned concern is privatised as a monopoly.
Which policy is most likely to both increase productivity and improve equity?
Which indicator is least likely to be used when measuring the comparative economic development of a country?
What needs to be removed to improve nominal GDP as a measure of comparative living standards?
The diagram shows the age structure of the Polish population in 2015 and the predicted structure in 2050. Since 2013, the retirement age in Poland ...
The table gives information on differences between females and males in 2013 in the Human Development Index and Gross National Income per capita in...
In an economy with no government sector: C = consumption I = investment X = exports M = imports Y = national income.
The diagram shows a closed economy in which the full employment level of income is YF.
In the Quantity Theory of Money equation, MV = PT, V is defined as the income velocity of circulation.
What moves from households to firms within the circular flow of income?
What is meant by liquidity preference?
What is an appropriate government policy for closing a deflationary gap?
Which policy is most likely to contribute to people ending up in a poverty trap?
During year 1, a government announces a temporary one-year reduction in the level of indirect taxation balanced by an equivalent temporary one-year...
The United States (US) Economy According to the Bureau of Economic Analysis, in the US in the first quarter of 2015, the real Gross Domestic Produc...
Discuss whether privatisation and an increase in competition would hinder or help the achievement of economic efficiency.
Use indifference curves to distinguish between the income and substitution effects of a price change. Discuss whether the distinction might be impo...
Consider whether a firm's marginal cost and average variable cost are significant when a firm wishes to maximise profits.
Explain the relationship in a perfect market between a firm's demand for labour and the wage rate offered.
'The measurement of living standards is problematic. It is never certain that people in one country are better off than those in another. The class...
What differences are there, if any, between fiscal policies, monetary policies and supply side policies?
Economic recovery pains Since the world financial crisis of 2008 the United Kingdom (UK) economy has recovered more quickly than some other advance...
In many countries there is a concern about the rate of unemployment.
Analyse how indifference curve theory explains why a consumer will normally buy more of a good at a lower price than at a higher price.
For some products there has been an increasing dominance of large firms in the last five years. For example, in the telecommunications industry mos...
The merit of the economic theory of wage determination is that it clearly shows what the best level of wage rates should be and thus is evidence th...
Whether a country can be classified as developed depends on the value of its GDP and the higher the GDP the better it is for the country. Consider ...
Section A Answer this question. Big is bad At its best, capitalism should be all about competition and consumer choice. This leads to innovation,...
Section B Answer two questions.
Describe how a firm is said to operate in order to maximise profits. Consider whether it will cease to operate if total revenue fails to cover tota...
The French film industry is subsidised by the government. Some actors receive very high fees. In 2015 it was proposed that, as part of the fee is p...
Analyse what might cause an increase in unemployment in an economy.
The table shows economic growth rates of GDP for selected countries for 2013. Switzerland 1.9% Sweden 1.5% Uganda 6.0% Zimbabwe 4.5% Source: world...
In recent years, many countries have faced economic difficulties. At such a time, discovering the best means of allocating scarce resources becomes...
Which statement by a company is normative?
The diagram shows an economy's production possibility curve for goods X and Y. [Diagram] What is the opportunity cost of moving from point R to poi...
From 1995 to 2000 each of the countries listed below moved towards a market economy through privatisation programmes. [Table: private sector share ...
A businesswoman sets up a charity to provide toys for young children of low income families. Which term most accurately describes these toys?
What will happen to an industry's supply curve if new firms enter the industry?
D1D1 shows an individual's initial demand curve for public transport. [Diagram] What would cause the demand curve to shift to D2D1?
Two goods X and Y have a positive cross-elasticity of demand and upward-sloping supply curves. What will be the effect of a reduction in the price ...
Which statement best describes the meaning of price elasticity of supply?
The diagram shows the market for cocoa, which is a normal good. Initially the market is in equilibrium with price Pe and quantity Qe bought and sol...
Goods X and Y are complements and have upward-sloping supply curves. What will be the effect on the equilibrium price and quantity of good X of an ...
The diagram shows a competitive market in equilibrium with price P and quantity Q sold. [Diagram] Which area represents the producer surplus?