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Price System, Microeconomy: Consumer Theory

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Topic Questions (MCQ – EASY): Utility

Topic Questions (MCQ – HARD): Utility

Topic Questions (MCQ – EASY): Indifference curves and budget lines

Topic Questions (MCQ – HARD): Indifference curves and budget lines

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

Topic Questions (MCQ – HARD): Efficiency

Topic Questions (MCQ – EASY): Market failure

Topic Questions (MCQ – HARD): Market Failure

Topic Questions (MCQ – EASY): Private costs and benefits, externalities and social costs and benefits

Topic Questions (MCQ – HARD): Private costs and benefits, externalities and social costs and benefits

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

Topic Questions (MCQ – HARD): Production, Costs, (Dis)Economies of Scale

Topic Questions (MCQ – EASY): Revenue, Profit

Topic Questions (MCQ – HARD): Revenue, Profit

Price System, Microeconomy: Different market structures

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Topic Questions (MCQ – EASY): Market Structure

Topic Questions (MCQ – HARD): Market Structure

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

Topic Questions (MCQ – HARD): Growth (Size), Objectives of Firms

Government MICROeconomic intervention

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Topic Questions (MCQ – EASY): Government policies to correct market failure

Topic Questions (MCQ – HARD): Government policies to correct market failure

Topic Questions (MCQ – EASY): Government policies to promote equity

Topic Questions (MCQ – HARD): Government policies to promote equity

Labour market forces and government intervention

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Topic Questions (MCQ – EASY): Labour market forces, MRP theory

Topic Questions (MCQ – HARD): Labour market forces, MRP theory

Macroeconomy: circular flow of income

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Topic Questions (MCQ – EASY): Circular Flow of Income, Multiplier

Topic Questions (MCQ – HARD): Circular Flow of Income, Multiplier

Macroeconomy: Economic growth and sustainability, Employment, Money and banking

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Topic Questions (MCQ – EASY): Economic growth and sustainability

Topic Questions (MCQ – HARD): Economic growth and sustainability

Topic Questions (MCQ – EASY): Unemployment

Topic Questions (MCQ – HARD): Unemployment

Topic Questions (MCQ – EASY): Money Market

Topic Questions (MCQ – HARD): Money Market

Government MACROeconomic intervention

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Topic Questions (MCQ – EASY): A2 Macro Intervention

Topic Questions (MCQ – HARD): A2 Macro Intervention

International economic issues

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Topic Questions (MCQ – EASY): A2 Balance of Payments, Policies

Topic Questions (MCQ – HARD): A2 Balance of Payments, Policies

Topic Questions (MCQ – EASY): A2 Exchange Rate

Topic Questions (MCQ – HARD): A2 Exchange Rate

Topic Questions (MCQ – EASY): Economic Development, Indicators of Living Standards

Topic Questions (MCQ – HARD): Economic Development, Indicators of Living Standards

Topic Questions (MCQ – EASY): Developing and Developed Countries

Topic Questions (MCQ – HARD): Developing and Developed Countries

Topic Questions (MCQ – EASY): Globalisation, Trading Blocs

Topic Questions (MCQ – HARD): Globalisation, Trading Blocs

CAIE A2 Economics – Topic Questions

Overview
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Content

Check the study notes for this topic.

Which of the following would serve as an indication of productive inefficiency within an economy?

a trade deficit larger than the trade surplus

prices exceeding the marginal costs

limited availability of specific goods and services

unemployment resulting from insufficient aggregate demand

In a perfectly competitive market, what condition would guarantee both productive and allocative efficiency for a firm?

It is in a state of long-run equilibrium.

It is optimizing total revenue.

It is producing at the point where marginal revenue equals marginal cost.

Long-run average costs are declining while sales are increasing.

Alice and Bob, the only inhabitants of a remote island, have access to a limited amount of goods represented by the line HV in the diagram. The line OE shows points of equal distribution of these goods. Which point, compared to the initial point 'Initial', would lead to an enhancement in economic welfare according to the Pareto Efficiency Criterion?

A

B

C

D

1 out of 3

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