Question 1
What is the basic economic problem?
Correct Answer:
Unlimited wants and limited (scarce) resources
Question 2
A student gives up a Saturday job paying $40 to attend a free concert. What is the opportunity cost of attending the concert?
Correct Answer:
The $40 wage forgone
Question 3
Which of the following is classified as the factor of production 'capital'?
Correct Answer:
A factory machine used to make cars
Question 4
Which factor reward is correctly matched with its factor of production?
Correct Answer:
Capital - interest
Question 5
A production possibility curve (PPC) shifts outwards. Which event most likely caused this?
Correct Answer:
An increase in the labour force following migration
Question 1
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About this Exam

Prepare with the IGCSE Economics Practice Questions - Cambridge IGCSE Economics (0455) Exam practice quiz. This question bank includes 100 questions covering price, cost, factor, demand, and good. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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IGCSE Economics Practice Questions - Cambridge IGCSE Economics (0455) Exam

This practice set contains 100 questions from the matching question bank and focuses on price, cost, factor, demand, and good. 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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