Economics IGCSE EDEXCEL Exam Questions with Complete Solutions 2025/2026

Economics IGCSE EDEXCEL Exam Questions with Complete Solutions 2025/2026 Advalorem tax - Correct Answer Tax levied as a percentage of the price of a good. Aggregate demand - Correct Answer Total demand in the economy including consumption, investment, government expenditure and exports minus imports. Anti-competitive practices or restrictive trade practices - Correct Answer An attempt by firms to prevent or restrict competition. Assisted areas - Correct Answer Areas designated as having problems by the UK or EU and are eligible for support. Average costs - Correct Answer The cost per unit of output; it is equal to total cost divided by output. Backward vertical integration - Correct Answer Merging with a firm that operates in the previous stage of production. Balance of payments - Correct Answer A record of all transactions relating to international trade. Balance of trade or visible balance - Correct Answer The difference between visible exports and visible imports. Barriers to entry - Correct Answer Obstacles that might discourage a firm from entering a market. Base rate - Correct Answer Th