Economics 0455 · Cambridge O Level / IGCSE
Paper 1: Multiple Choice
1 hour · 40 marks · 30%
- Duration
- 1 hour
- Marks
- 40
- Practice here
- 150
What is on this paper
- Candidates answer 40 multiple-choice questions.
- Externally assessed
How it is weighted
- 30%
Which papers you sit
All candidates take two papers. Candidates will be eligible for grades A* to G.
Assessment details are taken from the official Cambridge Economics 0455 syllabus for 2027-2029. Read the syllabus ↗
Practise the topics on Paper 1
All Economics topics →150 original questions, each with a full worked solution. Free to read, no account needed.
Demand, Supply and How Markets Work
Explain how markets allocate resources through buyers and sellers; draw and interpret individual and market demand and…
Price Elasticity of Demand and Supply
Calculate and interpret price elasticity of demand and supply; identify the main determinants of elastic and inelastic…
Market Equilibrium and Price Changes
Find equilibrium price and quantity from demand and supply schedules or diagrams; identify shortages and surpluses in…
Scarcity and Opportunity Cost
Define the basic economic problem of finite resources and infinite wants; apply the concept of opportunity cost to…
Economic Growth, Unemployment and Inflation
Define and measure economic growth, unemployment and inflation; distinguish frictional, structural, cyclical and…
Factors of Production and the PPC Diagram
Identify the factors of production and their rewards; draw and interpret a production possibility curve, including…
International Trade, Globalisation and Exchange Rates
Explain the basis for specialisation and free trade, the causes and effects of globalisation, methods and reasons for…
Economic Systems and Market Failure
Compare market, mixed and planned resource allocation; explain the causes and consequences of market failure (public…
Government Aims and Fiscal Policy
State the macroeconomic aims of government and the conflicts between them; define the government budget, budget…
Firms: Types, Production and Costs
Classify firms by sector and size and compare mergers; distinguish labour-intensive from capital-intensive production…
Monetary and Supply-Side Policy
Define monetary policy and supply-side policy; explain how changes in interest rates, the money supply and the…
Workers, Wages and the Labour Market
Explain the wage and non-wage factors affecting occupational choice; analyse wage determination through demand for and…
Living Standards, Poverty and Population
Compare living standards using real GDP per head and the Human Development Index; distinguish absolute from relative…
Money, Banking and Households
Describe the forms and functions of money and the roles of central and commercial banks; explain how income, interest…
Market Structures: Competition and Monopoly
Compare the characteristics of competitive markets with monopoly markets and evaluate the effect of the number of…