1 mark
Q1(a) Multiple choice completing a description of menu costs.
Edexcel · 4EC1
All 23 questions from the Edexcel iGCSE Paper 2R, June 2023 Economics paper (4EC1), worth 80 marks in total. The main topics tested are Inflation (3), International trade (3), Exchange rates (3), Poverty (2).
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 completing a description of menu costs.
Q1(b) Multiple choice on what causes demand-pull inflation.
Q1(c) Give the meaning of imports.
Q1(d) Set out what higher interest rates do to demand for a currency.
Q1(e) Work out Canada's current account in CAD$bn for the year ending 2020.
Q1(f) Diagram question: fill in the three stages of the economic cycle missing from the diagram.
Q1(g) Give one reason the Scottish Government pays benefits.
Q1(h) Data response: where GDP falls short as a measure of growth - Singapore case.
Q2(a) Multiple choice naming what a central bank does when it buys government bonds.
Q2(b) Multiple choice on what a move from GBP1=EUR1.20 to EUR1.10 means.
Q2(c) Name a trade-off that comes with economic growth.
Q2(d) Give the meaning of devaluation.
Q2(e) Give one way infrastructure spending helps an economy such as the US.
Q2(f) Diagram question: a new fish quota - show the effect on equilibrium price and quantity.
Q2(g) Data response: what a fiscal surplus buys a city such as San Francisco.
Q3(a) Multiple choice working the inflation rate from a CPI move of 1000 to 1050.
Q3(b) Multiple choice naming the term for lacking the resources to meet basic needs.
Q3(c) Give one reason the US government brought in the subsidy described.
Q3(d) Data response: how free trade helps domestic firms inside the RCEP.
Q3(e) Data response: what rising unemployment does to the North East of England.
Q4(a) Work out the Netherlands' unemployment rate to 2 d.p. for December 2021.
Q4(b) Data response: what rising inflation does to exports - the Netherlands case.
Q4(c) Data response: weigh up pollution permits as environmental protection - the Netherlands case.
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