Cambridge IGCSE™
ECONOMICS 0455/13
Paper 1 Multiple Choice May/June 2024
45 minutes
You must answer on the multiple choice answer sheet.
*6235789666*
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
There are thirty questions on this paper. Answer all questions.
For each question there are four possible answers A, B, C and D. Choose the one you consider correct
and record your choice in soft pencil on the multiple choice answer sheet.
Follow the instructions on the multiple choice answer sheet.
Write in soft pencil.
Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
Do not use correction fluid.
Do not write on any bar codes.
You may use a calculator.
INFORMATION
The total mark for this paper is 30.
Each correct answer will score one mark.
Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
06_0455_13_2024_1.9a
© UCLES 2024 [Turn over
, 2
1 How can the economic problem be described?
A as insufficient capital to satisfy our wants
B as insufficient income to satisfy all our needs
C as insufficient resources to satisfy our unlimited wants
D as insufficient wealth to satisfy all our needs
2 What would be included in the factor of production land?
A bread
B factory building
C sports arena
D wheat
3 A deposit of shale oil is discovered in an area of farming.
The following estimates are made for a ten-year period.
• If the land is used only for farming, it would yield income after tax of $10 billion.
• If the land is used only for shale oil extraction, it would yield income after tax of
$40 billion.
• The government would receive $5 billion in taxes from farming and $10 billion in
taxes from shale oil extraction.
What is the opportunity cost of using the land only for farming?
A $25 billion B $30 billion C $35 billion D $45 billion
4 What three key questions determine resource allocation?
A what, how, for whom
B what, when, for whom
C where, what, how
D where, how, for whom
© UCLES 2024 06_0455_13_2024_1.9
ECONOMICS 0455/13
Paper 1 Multiple Choice May/June 2024
45 minutes
You must answer on the multiple choice answer sheet.
*6235789666*
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
There are thirty questions on this paper. Answer all questions.
For each question there are four possible answers A, B, C and D. Choose the one you consider correct
and record your choice in soft pencil on the multiple choice answer sheet.
Follow the instructions on the multiple choice answer sheet.
Write in soft pencil.
Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
Do not use correction fluid.
Do not write on any bar codes.
You may use a calculator.
INFORMATION
The total mark for this paper is 30.
Each correct answer will score one mark.
Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
06_0455_13_2024_1.9a
© UCLES 2024 [Turn over
, 2
1 How can the economic problem be described?
A as insufficient capital to satisfy our wants
B as insufficient income to satisfy all our needs
C as insufficient resources to satisfy our unlimited wants
D as insufficient wealth to satisfy all our needs
2 What would be included in the factor of production land?
A bread
B factory building
C sports arena
D wheat
3 A deposit of shale oil is discovered in an area of farming.
The following estimates are made for a ten-year period.
• If the land is used only for farming, it would yield income after tax of $10 billion.
• If the land is used only for shale oil extraction, it would yield income after tax of
$40 billion.
• The government would receive $5 billion in taxes from farming and $10 billion in
taxes from shale oil extraction.
What is the opportunity cost of using the land only for farming?
A $25 billion B $30 billion C $35 billion D $45 billion
4 What three key questions determine resource allocation?
A what, how, for whom
B what, when, for whom
C where, what, how
D where, how, for whom
© UCLES 2024 06_0455_13_2024_1.9
