Cameroon GCE O-Level Economics Practice Questions - Cameroon General Certificate of Education Ordinary Level - Economics (Subject Code 0525) Exam - Cameroon GCE O-Level Economics Practice Questions - Cameroon General Certificate of Education Ordinary Level

Question 1

What is the fundamental economic problem that faces all societies regardless of their economic system?

The equitable distribution of national income among citizens The scarcity of resources relative to unlimited human wants The continuous rise in the general price level of commodities The rapid growth of the human population over food production

Correct Answer:

The scarcity of resources relative to unlimited human wants

Question 2

How is opportunity cost defined in economics?

The total monetary expenditure incurred when purchasing a commodity The next best alternative forgone when a choice is made The fixed production cost of producing one additional unit of a good The depreciation value of capital equipment over a given financial year

Correct Answer:

The next best alternative forgone when a choice is made

Question 3

A consumer has 5,000 FCFA and lists four wants in order of importance: Textbooks (5,000 FCFA), Shoes (5,000 FCFA), Wristwatch (5,000 FCFA), and Radio (5,000 FCFA). If the consumer buys the Textbooks, what is the opportunity cost of this decision?

Shoes only 5,000 FCFA in cash Shoes, Wristwatch, and Radio combined The utility derived from studying the Textbooks

Correct Answer:

Shoes only

Question 4

What does a point situated inside a country's Production Possibility Frontier (PPF) indicate?

An unattainable level of production given current technology Productive efficiency where all resources are fully utilized Underutilization or unemployment of existing productive resources Rapid economic growth due to technological advancement

Correct Answer:

Underutilization or unemployment of existing productive resources

Question 5

Why is a typical Production Possibility Frontier (PPF) bowed outwards (concave to the origin)?

Because economic resources are perfectly adaptable between different industries Because resources are not perfectly substitutable, leading to increasing opportunity costs Because the government imposes progressive taxes on manufacturing industries Because consumer demand remains perfectly inelastic at all price levels

Correct Answer:

Because resources are not perfectly substitutable, leading to increasing opportunity costs

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About this Exam

Prepare with the Cameroon GCE O-Level Economics Practice Questions - Cameroon General Certificate of Education Ordinary Level - Economics (Subject Code 0525) Exam practice quiz. This question bank includes 100 questions covering price, demand, fcfa, total, and market. 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 O-Level Economics Practice Questions - Cameroon General Certificate of Education Ordinary Level - Economics (Subject Code 0525) Exam

This practice set contains 100 questions from the matching question bank and focuses on price, demand, fcfa, total, and market. 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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Cameroon GCE O-Level Economics Practice Questions - Cameroon General Certificate of Education Ordinary Level - Economics (Subject Code 0525) Exam

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