1 mark
Q1(a) Multiple choice naming the kind of firm that manufactures cars.
Edexcel · 4EC1
All 24 questions from the Edexcel iGCSE Paper 1, Jan 2023 Economics paper (4EC1), worth 80 marks in total. The main topics tested are Elasticity (3), Productivity (2), Sectors of production (1), Division of labour (1).
Each question is summarised in our own words with its mark tariff, command word and specification point, and links through to the official paper.
Question paper → Mark scheme → Examiner report → Open in the searchable bank →
Q1(a) Multiple choice naming the kind of firm that manufactures cars.
Q1(b) Multiple choice working the firm's monthly labour productivity.
Q1(c) Give the meaning of the division of labour.
Q1(d) Name a factor of production.
Q1(e) Give the meaning of the public sector.
Q1(f) Work out price elasticity of demand to 2 d.p. for an artist's portraits.
Q1(g) Diagram question: show what a celebrity endorsement does to the trainers market.
Q1(h) Give one reason a restaurant might not chase maximum profit.
Q1(i) Data response: why elasticity information is useful to a firm such as a coach operator.
Q2(a) Multiple choice naming the market structure shown in Figure 2.
Q2(b) Multiple choice on what would most likely raise productivity.
Q2(c) Give the meaning of barriers to entry.
Q2(d) Work out the firm's monthly total costs.
Q2(e) Set out one drawback to a government of using subsidies.
Q2(f) Give one reason an owner might keep her business small.
Q2(g) Data response: how far a telecoms merger is likely to deliver economies of scale.
Q3(a) Multiple choice picking what counts as an economic need.
Q3(b) Multiple choice picking the example of an external benefit.
Q3(c) Diagram question: sketch a price elastic supply curve.
Q3(d) Data response: why flood defences are provided by government rather than the market.
Q3(e) Data response: what trade union activity does to a supermarket and its staff.
Q4(a) Work out the opportunity cost of producing 40 more units of consumer goods.
Q4(b) Data response: what sets the price at which tagines sell to tourists.
Q4(c) Data response: weigh up what competition does for restaurant customers in Dahab.
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