Cambridge IGCSE Economics-0455 Past papers

Cambridge IGCSE Economics-0455 past papers are helpful mediums to prepare topical content to gain high scores in the final examination. With the help of past papers from the IGCSE Economics-0455, I understand the marking scheme and weighting of each component proposed by Cambridge. Past papers helped me analyze the assessment objective and prepare each component according to the mentioned assessment objective. In this way, past papers are key to my success in each subject. I also prepared Design and Technology-0445 Past papers.

The basic economic problem 

The first section of the syllabus introduces the fundamental ideas and concepts that underpin the study of economics including the basic economic problem, factors of production, opportunity cost and production possibility curves. 

The allocation of resources 

The fundamental principles of resource allocation are considered through the price mechanism in a market economy. The market forces of demand and supply, market equilibrium and disequilibrium, and elasticity form the core of this section. 

Microeconomic decision-makers 

The microeconomy is an important area of study, and the approach to learning is taken here through the role of the major decision-makers: banks, households, workers, trade unions and firms. 

Government and the macroeconomy 

Governments have different macroeconomic aims, and conflicts often arise between the choice of measures used to achieve them. Variables must be measured to consider the causes and consequences of change, and appropriate policies applied. 

Economic development 

Population, living standards, poverty, and income redistribution will change as an economy develops. Therefore, the effects of changes in the size and structure of the population and other influences on development in various countries are explored. 

International trade and globalization 

The importance of trade between countries and the growth of globalization is explored. Principles such as specialization, the role of free trade, multinational companies, foreign exchange rates and balance of payments stability are considered.

Cambridge assessed Economics-0455 with the help of two papers. Paper 1 is objective and paper 2 is based on structure and detailed questions. For per1 I prepared the complete syllabus and focused on MCQs. I prepared selective topics that were most likely repeated. For paper 2 I focused on structure questions and past papers helped me prepare for this paper. I also analyzed the marking scheme. 

Paper 1 – Multiple Choice

Multiple-choice paper, 45 minutes, 30 marks

Candidates answer all 30 multiple-choice questions. Candidates indicate their answers on the multiple-choice answer sheet provided. The questions are based on all six sections of the syllabus content. The questions may include calculations.

Calculators may be used in the examination.

The paper assesses the following assessment objectives: AO1: Knowledge and understanding AO2: Analysis

Paper 2 – Structured Questions

Written paper, 2 hours 15 minutes, 90 marks

Candidates answer one compulsory question in Section A and three questions from a choice of four in Section B. Candidates write their answers in the answer booklet provided.

Candidates should be aware of the marks for each part of the question. These are printed on the question paper.

Candidates should use them to guide the amount of detail and length of response expected and to help them manage their time effectively.

Calculators may be used in both sections of the examination.