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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 is not considered an example of 'market failure'?

Unequal distribution of income

Monopolistic pricing above marginal cost

Overgrazing causing damage to common land

Aircraft noise impacting individuals living near airports

What factor could hinder the attainment of allocative efficiency in a market economy?

Dissent among consumers regarding resource allocation

Disparities in income and wealth distribution

Inability to produce goods that are available for free

Inability to produce goods that are classified as public goods

Under what conditions would the introduction of more fishing boats into the fishing industry lead to a net decrease in societal well-being?

The additional boats decrease the fish catch of existing boats.

The additional boats decrease the profits of existing boat owners.

The value of the increased fish catch is lower than the value lost in output in other sectors of the economy.

The introduction of more boats reduces the total fish population.

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