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CAIE/CIE 2023 May/June A-level
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Course Content
Price System, Microeconomy: Consumer Theory
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Topic Questions (MCQ – EASY): Utility
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Topic Questions (MCQ – HARD): Utility
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Topic Questions (MCQ – EASY): Indifference curves and budget lines
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Topic Questions (MCQ – HARD): Indifference curves and budget lines
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Price System, Microeconomy: Efficiency and market failure, Private costs and benefits, externalities and social costs and benefits
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Topic Questions (MCQ – EASY): Efficiency
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Topic Questions (MCQ – HARD): Efficiency
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Topic Questions (MCQ – EASY): Market failure
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Topic Questions (MCQ – HARD): Market Failure
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Topic Questions (MCQ – EASY): Private costs and benefits, externalities and social costs and benefits
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Topic Questions (MCQ – HARD): Private costs and benefits, externalities and social costs and benefits
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Price System, Microeconomy: Types of cost, revenue and profit, short-run and long-run production
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Topic Questions (MCQ – EASY): Production, Costs, (Dis)Economies of Scale
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Topic Questions (MCQ – HARD): Production, Costs, (Dis)Economies of Scale
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Topic Questions (MCQ – EASY): Revenue, Profit
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Topic Questions (MCQ – HARD): Revenue, Profit
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Price System, Microeconomy: Different market structures
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Topic Questions (MCQ – EASY): Market Structure
00:00
Topic Questions (MCQ – HARD): Market Structure
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Price System, Microeconomy: Growth and survival of firms; Differing objectives and policies of firms
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Topic Questions (MCQ – EASY): Growth (Size), Objectives of Firms
00:00
Topic Questions (MCQ – HARD): Growth (Size), Objectives of Firms
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Government MICROeconomic intervention
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Topic Questions (MCQ – EASY): Government policies to correct market failure
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Topic Questions (MCQ – HARD): Government policies to correct market failure
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Topic Questions (MCQ – EASY): Government policies to promote equity
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Topic Questions (MCQ – HARD): Government policies to promote equity
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Labour market forces and government intervention
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Topic Questions (MCQ – EASY): Labour market forces, MRP theory
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Topic Questions (MCQ – HARD): Labour market forces, MRP theory
00:00
Macroeconomy: circular flow of income
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Topic Questions (MCQ – EASY): Circular Flow of Income, Multiplier
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Topic Questions (MCQ – HARD): Circular Flow of Income, Multiplier
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Macroeconomy: Economic growth and sustainability, Employment, Money and banking
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Topic Questions (MCQ – EASY): Economic growth and sustainability
00:00
Topic Questions (MCQ – HARD): Economic growth and sustainability
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Topic Questions (MCQ – EASY): Unemployment
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Topic Questions (MCQ – HARD): Unemployment
00:00
Topic Questions (MCQ – EASY): Money Market
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Topic Questions (MCQ – HARD): Money Market
00:00
Government MACROeconomic intervention
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Topic Questions (MCQ – EASY): A2 Macro Intervention
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Topic Questions (MCQ – HARD): A2 Macro Intervention
00:00
International economic issues
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Topic Questions (MCQ – EASY): A2 Balance of Payments, Policies
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Topic Questions (MCQ – HARD): A2 Balance of Payments, Policies
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Topic Questions (MCQ – EASY): A2 Exchange Rate
00:00
Topic Questions (MCQ – HARD): A2 Exchange Rate
00:00
Topic Questions (MCQ – EASY): Economic Development, Indicators of Living Standards
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Topic Questions (MCQ – HARD): Economic Development, Indicators of Living Standards
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Topic Questions (MCQ – EASY): Developing and Developed Countries
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Topic Questions (MCQ – HARD): Developing and Developed Countries
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Topic Questions (MCQ – EASY): Globalisation, Trading Blocs
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Topic Questions (MCQ – HARD): Globalisation, Trading Blocs
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CAIE A2 Economics – Topic Questions
Overview
Comments
Content
Check the study notes for this topic.
What condition must be met for productive efficiency to be achieved?
the elimination of all externalities
the reduction of all transaction costs
price equals to marginal cost in all industries
the production of a good at minimum average cost for a given output
What type of efficiency is indicated by the equality of price and marginal cost?
allocative
technical
productive
dynamic
What is the primary reason for an economy to strive for economic efficiency?
to promote income equality
to achieve maximum employment
to improve international competitiveness
to prevent the wastage of resources
Which of the following statements correctly identifies the condition required to achieve Pareto optimality?
All consumers optimize their utility within the constraints of their available income.
It is impossible to produce more output with the available resources.
It is impossible to reallocate resources to make someone better off without making someone else worse off.
The potential losers from any reallocation of resources cannot be fully compensated by those who benefit.
In a two-person economy with given technology and resources, the current distribution of goods between two individuals is at point X. Which point represents increased allocative efficiency based on the Pareto criterion?
A
B
C
D
Which of the following statements is accurate?
Firms in a centralized economy compete to allocate resources efficiently.
Resources in a centralized economy are privated owned.
In a market economy prices are used to signal the value of individual resources.
Resources in a market economy are allocated by government planners.
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