Microeconomics and macroeconomics — Paper 1 · IGCSE Economics 0455

4 Which topic is included in microeconomics? A economic growth B elasticity of demand C inflation D the balance of payments

1 marks

Answer: B

This question in 0455/11 May/June 2020

4 Microeconomics analyses choices in various situations. Which area of economic study does it not include? A costs and revenues of a firm B individual consumer behaviour C policies for economic growth D wages for different occupations

1 marks

Answer: C

This question in 0455/12 May/June 2020

4 Which are both macroeconomic decisions? decision 1 decision 2 A a school recruits more teachers a firm sets the prices for its products B a central bank reduces money supply a government spends more on defence C a government increases tax rates a farmer decides which crops to grow D a household cuts its energy use a worker accepts an offer of overtime

1 marks

Answer: B

This question in 0455/13 May/June 2020

4 Which person makes macroeconomic decisions? A a bank manager B a government finance minister C a shareholder in a firm D a worker

1 marks

Answer: B

This question in 0455/11 Oct/Nov 2020

4 Economics is divided into two: microeconomics and macroeconomics. statement 1 When the price of oil falls there is an expansion in demand. statement 2 The Organization of the Petroleum Exporting Countries (OPEC) can influence the price of oil. Which combination correctly describes these two statements? statement 1 statement 2 A macroeconomic statement macroeconomic statement B macroeconomic statement microeconomic statement C microeconomic statement macroeconomic statement D microeconomic statement microeconomic statement

1 marks

Answer: D

This question in 0455/13 Oct/Nov 2020

4 What is included in macroeconomics? A the causes of a change in the price of one product B the causes of a market failure C the causes of determinants of price elasticities of supply D the causes of economic growth

1 marks

Answer: D

This question in 0455/12 Feb/March 2021

4 What is included in microeconomics? A the calculation of national income and expenditure B the effects of a change in exchange rates on the trade balance of an economy C the effects of an increase in the price of a good or service D the factors leading to demand-pull inflation

1 marks

Answer: C

This question in 0455/11 May/June 2021

4 What is not included in microeconomics? A economies of scale B forms of competition C individual demand D the inflation rate

1 marks

Answer: D

This question in 0455/12 May/June 2021

4 Who is a microeconomic decision maker? A the director of an international trade organisation B the entrepreneur of a firm C the finance minister of a government

1 marks

Answer: B

This question in 0455/13 May/June 2021

6 What is a macroeconomic concept? A the effect of a price change of a good B the equilibrium price in the market for a good C the reason for a change in a firm’s behaviour D the total spending in an economy

1 marks

Answer: D

This question in 0455/11 Oct/Nov 2021

6 What is a microeconomic decision? A a central bank reducing interest rates B a gas firm reducing its prices C a government increasing income tax D a government increasing the national minimum wage

1 marks

Answer: B

This question in 0455/13 Oct/Nov 2021

29 Which topic is not included in microeconomics? A consumer demand B economies of scale C forms of competition D inflation

1 marks

Answer: D

This question in 0455/11 May/June 2022

4 Which relationship would be studied by an economist specialising in macroeconomics? A the relationship between the inflation rate and the unemployment rate B the relationship between the output of a firm and its costs of production C the relationship between the price of a product and the quantity demanded by a consumer D the relationship between the wage rate of workers and demand for labour in an occupation

1 marks

Answer: A

This question in 0455/12 May/June 2022

4 Which topic is studied in macroeconomics? A cost-push inflation B market price determination C public goods D the output of a firm

1 marks

Answer: A

This question in 0455/13 May/June 2022

4 The table shows examples of changes in an economy. Which combination has two microeconomic changes? change 1 change 2 A an increase in the a rise in the average earnings rate of inflation of healthcare professionals B an increase in the a rise in the rate of rate of inflation unemployment C a reduction in output a rise in the average earnings in the car industry of healthcare professionals D a reduction in output a rise in the rate of in the car industry unemployment

1 marks

Answer: C

This question in 0455/11 Oct/Nov 2022

4 Which economic activity would be classified as macroeconomics? A households spend less on holidays abroad B income tax is increased by the government C wages rise for construction workers D world coffee price rises due to poor weather

1 marks

Answer: B

This question in 0455/11 May/June 2023

4 What is not a microeconomic decision? A A firm decides to increase the price of its product. B A government decides to increase interest rates. C A household decides to reduce its demand for fuel. D A trade union decides to go on strike.

1 marks

Answer: B

This question in 0455/13 May/June 2023

4 There has been an increase in the demand for wheat. This has led to an increase in the demand for labour to harvest the wheat. Which branch of economics covers these two concepts? increase in the increase in the demand for labour demand for wheat to harvest wheat A macroeconomics macroeconomics B macroeconomics microeconomics C microeconomics macroeconomics D microeconomics microeconomics

1 marks

Answer: D

This question in 0455/11 Oct/Nov 2023

4 What is not a macroeconomic topic? A the growth in Chinese Gross Domestic Product B the level of Consumer Prices Index inflation in the UK C the level of unemployment in Spain D the total output of the German car industry

1 marks

Answer: D

This question in 0455/12 May/June 2024

7 What is included in the study of microeconomics? A demand-pull inflation B diseconomies of scale C increasing unemployment D the size of the budget deficit

1 marks

Answer: B

This question in 0455/13 May/June 2024

4 Which person is most likely to make a microeconomic decision as part of their job? A a government finance minister B the global administrator of the Human Development Index C the governor of the central bank D the manager of a private sector firm

1 marks

Answer: D

This question in 0455/11 Oct/Nov 2024

4 What is an example of microeconomics? A a fall in the cost of growing wheat B a fall in the unemployment rate C an increase in the rate of inflation D an increase in government spending

1 marks

Answer: A

This question in 0455/12 Feb/March 2025

4 What are both macroeconomic decisions? decision 1 decision 2 A a school recruits more teachers a firm sets the prices for its products B a central bank reduces money supply a government spends more on defence C a government increases tax rates a farmer decides which crops to grow D a household cuts its energy use a worker accepts an offer of overtime

1 marks

Answer: B

This question in 0455/12 May/June 2025

4 Which combination gives correct examples of macroeconomics and microeconomics? macroeconomics microeconomics A study of demand for a product study of price of a product B study of behaviour of firms study of individual behaviour C study of the economy as a whole study of specific markets D study of the international economy study of the national economy

1 marks

Answer: C

This question in 0455/12 Oct/Nov 2025