Paper 1: Multiple Choice (Cambridge (CIE) IGCSE Economics): Revision Note

Paper 1 tests your knowledge and understanding of economics and your ability to analyse simple economic situations

All questions are based on the full syllabus content (Topics 1–6)

• You answer 40 multiple-choice questions

• Each question is worth 1 mark

• The paper lasts 1 hour

• Paper 1 is worth 33% of the total qualification (40 marks out of 120 overall)

• All questions are compulsory – you must answer every question

Paper 1 mainly assesses:

• AO1 Knowledge and Understanding – recognising and recalling key definitions, formulas, diagrams and concepts

• AO2 Analysis – interpreting simple data or diagrams and applying economic ideas to short scenarios

• There are no AO3 evaluation marks on Paper 1

Each of the 40 questions:

• Has four answer options (A, B, C, D)

• Moves systematically through Topics 1, 2, 3, 4 etc.

  • The first question will be from Topic 1 and the final question will be from Topic 6

• Might be:

  • a straightforward recall question

  • based on a short piece of data, a table or a diagram

  • a calculation using a simple formula

Examples of the types of skills tested include:

• Recognising correct definitions (e.g., opportunity cost, PED, GDP per head)

• Using demand and supply diagrams to identify the effect of a shift

• Interpreting changes in unemployment, inflation or growth from data tables

• Working out simple percentages and elasticities

You can use a calculator in Paper 1

For more detailed help on how to approach multiple-choice questions, see the section "Answering 1-Mark MCQ Questions"