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Question 1
Which of the following fundamental economic concepts is illustrated by a movement from one point to another along a downward-sloping Production Possibility Frontier (PPF)?
Correct Answer:
Opportunity cost, whereby producing more of one good necessitates sacrificing units of another good.
Question 2
In microeconomic analysis, which of the following scenarios will cause a rightward shift of the market demand curve for beef, rather than a downward movement along the existing demand curve?
Correct Answer:
A significant rise in the market price of fish, a close substitute for beef.
Question 3
If the prevailing market price of palm oil in Douala is set strictly below the market-clearing equilibrium price, what condition arises in the market and how does the price mechanism restore equilibrium in a free market?
Correct Answer:
An excess demand (shortage) emerges, causing buyers to bid up the price until quantity demanded equals quantity supplied.
Question 4
The market demand equation for a consumer good is given by $Q_d = 400 - 5P$, where $P$ is the price in FCFA and $Q_d$ is the quantity demanded in units. What is the point price elasticity of demand ($PED$) at a price of 40 FCFA?
Correct Answer:
-1.00
Question 5
When the price of a standard bag of cement in Yaoundé increases from 4,000 FCFA to 5,000 FCFA, the quantity demanded decreases from 120 bags to 80 bags per day. Using the midpoint (arc) formula, what is the price elasticity of demand ($PED$)?
Correct Answer:
-1.80
Question 1
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About this Exam

Prepare with the Cameroon GCE A-Level Economics Practice Questions - Cameroon General Certificate of Education Advanced Level - Economics (0725) Exam practice quiz. This question bank includes 100 questions covering price, fcfa, market, demand, and total. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Cameroon GCE A-Level Economics Practice Questions - Cameroon General Certificate of Education Advanced Level - Economics (0725) Exam

This practice set contains 100 questions from the matching question bank and focuses on price, fcfa, market, demand, and total. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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