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Learn Extracted exam questions IGCSE Economics 0455 Economics November 2024 Question paper 11

0455 Economics November 2024 Question paper 11

Source PDF on the left, extracted YAML on the right. Compare numbering, marks, options and text.

1 1 mark multiple_choice 1.1

air

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
2 1 mark multiple_choice 1.2

second factor first factor land capital

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
3 1 mark multiple_choice 1.3

capital goods O consumer goods X Y Which cost can be determined as the economy moves along its PPC from point X to point Y? the opportunity cost of producing more capital goods

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
4 1 mark multiple_choice 4.2

a government finance minister

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
5 1 mark multiple_choice 1.4

all resources used to produce consumer goods

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
6 1 mark multiple_choice 2.4

price quantity

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
7 1 mark multiple_choice 2.7

quantity supplied price ($) What is the price elasticity of supply of the good as the price increases from$5 to $10? +2.0

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
8 1 mark multiple_choice 2.10

The government always provides goods more cheaply than private firms.

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
9 1 mark multiple_choice 2.2

for bus passengers for motorists decrease decrease

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
10 1 mark multiple_choice 3.1

medium of exchange

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
11 1 mark multiple_choice 3.3

demand for bus travel national minimum wage (per year) $ increasing 15 000

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
12 1 mark multiple_choice 3.5

What is meant by internal diseconomies of scale?

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
13 1 mark multiple_choice 3.5

average cost for the firm decreases when the output of the firm increases

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
14 1 mark multiple_choice 3.6

fixed costs as a percentage of total cost

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
15 1 mark multiple_choice

electricity

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
16 1 mark multiple_choice 3.6

The firm is allocating a proportion of profit to other business objectives.

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
17 1 mark multiple_choice 4.1

balance of payments equilibrium

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
18 1 mark multiple_choice 4.2

year 2 $bn year 1$bn revenue spending What does the forecast government budget for year 2 show? The budget deficit decreased when compared with year 1.

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
19 1 mark multiple_choice

The graph shows the impact of a tax on the supply of petrol (gas). 19 D quantity S2 S1 price O What can be concluded from this graph? The government will receive no tax revenue. A The impact of the tax will be shared between the consumer and the producer. B The impact of the tax will fall entirely upon the consumer. C The impact of the tax will fall entirely on the producer. D

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
20 1 mark multiple_choice 4.4

What is most likely to result from a successful supply-side policy? a deterioration in the current account of the balance of payments

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
21 1 mark multiple_choice 4.2

year 2 year 1 −1 rate of unemployment (%) rate of real GDP growth (%) Which combination of policy measures would be most effective in returning the economy to the year 1 level of activity? a decrease in direct taxes and an increase in the rate of interest

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
22 1 mark multiple_choice 4.6

year 2 (millions) year 1 (millions) total labour force employed workers long-term unemployed employment in manufacturing employment in services According to the table, what is the most likely type of unemployment in year 2? cyclical

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
23 1 mark multiple_choice 4.7

consumer prices (% change) earnings (% change) +9.5 +12.5

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
24 1 mark multiple_choice 5.2

percentage of GDP received by each 20% of households lowest 20% second lowest 20% middle 20% second highest 20% highest 20% 8.9 14.3 18.0 22.4 36.4 Belgium 5.4 9.4 13.5 20.0 51.7 Mexico 5.1 10.3 15.3 22.4 46.9 US What can be concluded from the table?

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
25 1 mark multiple_choice 4.2

a contractionary fiscal policy

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
26 1 mark multiple_choice 1.2

labour

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
27 1 mark multiple_choice 3.7

decreased prices and better quality

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
28 1 mark multiple_choice 6.2

increased access to modern technology

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
29 1 mark multiple_choice 6.3

O exchange rate quantity of $ S D1 D2 Which change in country X would have caused this? a fall in its international competitiveness

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D
30 1 mark multiple_choice 6.3

lower prices for the country’s exports

  1. A

    A
  2. B

    B
  3. C

    C
  4. D

    D

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