1 mark
Q1(a) Multiple choice on why consumers stopped buying after a price rise (options span profit maximisation, maximising benefits, habit and inability to calculate).
Edexcel · 4EC1
All 24 questions from the Edexcel iGCSE Paper 1, June 2025 Economics paper (4EC1), worth 80 marks in total. The main topics tested are Elasticity (2), Economic assumptions (1), Productivity (1), Externalities (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.
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Q1(a) Multiple choice on why consumers stopped buying after a price rise (options span profit maximisation, maximising benefits, habit and inability to calculate).
Q1(b) Multiple choice classifying a product with an income elasticity of demand of -0.9 (public, normal, luxury or inferior good).
Q1(c) Give the meaning of productivity.
Q1(d) Give the formula used to work out social costs.
Q1(e) Give the meaning of a producer.
Q1(f) Work out a firm's monthly total costs from fixed costs of EUR37 000, variable costs of EUR170 per unit and output of 650 units.
Q1(g) Diagram question: show what a rise in raw material costs does to the car market, labelling the new curve and equilibrium.
Q1(h) Give one reason the CMA may have reached its decision on the Microsoft-Activision merger (context: a 60-70% share of online gaming).
Q1(i) Data response: how rising demand for wooden furniture feeds through to the demand for woodcutters.
Q2(a) Multiple choice picking the unobtainable point from a production possibility curve diagram.
Q2(b) Multiple choice on what affects labour supply (age distribution, economies of scale, profit maximisation or long-run average costs).
Q2(c) Work out price elasticity of supply to 2 d.p. from a 5.4% rise in quantity supplied after a 7.8% price rise.
Q2(d) Give the meaning of innovation.
Q2(e) Say why a car mechanic counts as a factor of production.
Q2(f) Give one drawback for rival broadcasters of privatising Argentina's state radio station.
Q2(g) Data response: how effective trade unions are at winning better pay and conditions (context: the Ghana Mine Workers' Union).
Q3(a) Multiple choice on what makes someone a free rider.
Q3(b) Multiple choice picking the tertiary sector job (house builder, cattle farmer, hotel receptionist or forestry worker).
Q3(c) Diagram question: show a minimum wage set above the equilibrium wage and label the resulting labour demanded and supplied.
Q3(d) Data response: Amazon Prime dropping tennis streaming - the effect on demand for Tennis TV subscriptions.
Q3(e) Data response: how well subsidies tackle externalities such as road congestion (context: Sri Lanka Railways' subsidised tickets).
Q4(a) Work out the percentage change in a firm's profit to 2 d.p. between 2021 and 2023.
Q4(b) Data response: why Uganda's petrol market counts as an oligopoly.
Q4(c) Data response: weigh up what an accountancy firm stands to gain by expanding from Brno to Prague (context: business concentration of 12% against 3.5%).
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