ZIMSEC A Level Economics Paper 1 Past Papers

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National Income and Economic Growth Demand and Supply Exchange Rates and International Trade Costs and Revenue Market Structures Price Elasticity of Demand Opportunity Cost and Scarcity Utility and Consumer Choiceunemploymentmonetary policy

Explained questions

What is the opportunity cost to a fully employed economy of increasing capital investment?
The diagram shows an economy's production possibility curve. What is the effect on present and future total output of a move from Z to point X?
The quantity supplied is
The price of a product rises from $18 000 to $22 000 and demand falls from 4 000 to 3 000. Calculate the coefficient of the price elasticity of demand.
The short-run supply curve of a perfectly competitive firm is the
What is marginal revenue?
The diagram represents the market for maize. What might shift $S_2$ to $S_1$ ?
To minimize loss, a firm must produce that output which
Which of the following is the payment to a factor of production over and above that necessary to keep the factor in its present use?
Normal profit is earned by an organisation when
A favourable movement in the terms of trade implies that the
National income is calculated by
The economic growth of a country may be deduced from an increase in its
Dumping is the practice of
The following figures are based on a country's balance of payments account.
Which characteristic applies to a mixed economy?
If nominal value of income rises by 20% and the amount of money in circulation remains the same, then
The table shows national income, rates of population and inflation changes for countries A, B, C and D.
Faced with unemployment, government decides to increase expenditure on goods and services. What situation yields the greatest increase in output in the economy?
In an open economy.
In a capitalist society, the economic problem of 'what goods' shall be produced is solved primarily by
Which of the following statements is correct?
In a typical demand schedule, quantity demanded
The diagram shows supply curves for commodity X. The shift of the supply curve from $S_1$ to $S_2$ could be caused by
The diagram shows the market demand for red meat. The movement from $D_1$ to $D_2$ can be the result of
The diagram shows the market demand and supply of a commodity. Where price is set by government,
A stable equilibrium position is one in which
By saying a good has utility, it means
Marginal utility is the
Which of the following is a positive statement?
Which of the following could cause a shift of the demand curve from $D_1$ to $D_2$ ?
The basic economic problem is that
The diagram below shows the Production Possibility Curve (PPC) of a country X. [Diagram: potatoes on the vertical axis with levels c, d and b marked from the top down, and bread on the horizontal axis with levels e and a marked. The concave PPC runs from c on the potatoes axis down to the bread axis. Point F sits on the curve at potato level d and bread level e; point G sits on the curve at potato level b and bread level a.]
Which of the following is an advantage of free market economy?
The diagram below shows the transformation curve of an economy
A straight line production possibility curve displays
Opportunity cost means
The diagram shows two production possibility frontiers, JK and PQ, before and after technological progress has taken place.
A concave production possibility curve (PPC) illustrates that
Productive efficiency is achieved when
If a consumer gains 30 units of satisfaction from consuming 6 units of a commodity and 33 units from consuming 7 units. The consumer's marginal utility from the 7th unit is

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