11 mark
Which person makes macroeconomic decisions?
a bank manager
a government finance minister
a shareholder in a firm
a worker
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Microeconomics & Macroeconomics (Cambridge (CIE) IGCSE Economics)
Exam Questions
57 mins26 questions21 mark
Microeconomics focuses on the study of:
The overall economy and its output
Individual consumers and firms
Government policies and regulations
Global trade and international relations
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31 mark
Macroeconomics deals with the:
Detailed analysis of individual markets
Interactions between individual consumers and firms
The behaviour of the overall economy
Microscopic factors influencing economic decisions
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41 mark
Microeconomics analyses:
The overall economic growth and development of a country
The behaviour of industries and firms
The impact of fiscal and monetary policies on the economy
The relationships between different countries' economies
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51 mark
Which area of economics is concerned with the overall performance and behaviour of the entire economy?
Microeconomics
Macroeconomics
International economics
Environmental economics
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11 mark
Economics is divided into two: microeconomics and macroeconomics.
statement 1 | When the price of oil falls there is an expansion in demand. |
statement 2 | The Organization of the Petroleum Exporting Countries (OPEC) can influence the price of oil. |
Which combination correctly describes these two statements?
| statement 1 | statement 2 |
A B C D | macroeconomic statement macroeconomic statement microeconomic statement microeconomic statement | macroeconomic statement microeconomic statement macroeconomic statement microeconomic statement |
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21 mark
A country experiences a long strike by railway workers.
What would be the macroeconomic impact of such a strike?
National output would fall.
Railway workers would lose income.
The demand for taxi services would rise.
The profits of railway operators would fall.
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31 mark
Which statement best characterises the scope of macroeconomics?
Analysis of individual price-setting strategies
Study of individual consumer demand
Examination of overall economic indicators and trends
Investigation of competition between specific firms
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41 mark
Which of the following topics is commonly studied in macroeconomics?
Market supply and demand for specific goods
Individual firms' growth strategies
National income, unemployment, and inflation
Consumer choices and preferences
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51 mark
One of the primary goals of macroeconomics is to:
Analyse consumer preferences and demand for goods
Study the competitive strategies of individual firms
Understand and explain overall economic trends and fluctuations
Examine the allocation of resources in specific industries
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11 mark
A country experiences a decrease in its overall unemployment rate, leading to higher consumer spending.
Which combination correctly describes these two statements?
| Statement 1 | Statement 2 |
A B C D | macroeconomic statement macroeconomic statement microeconomic statement microeconomic statement | macroeconomic statement microeconomic statement macroeconomic statement microeconomic statement |
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21 mark
A central bank adjusts interest rates to influence borrowing and spending in the economy - as a result the demand for luxury Swiss watches falls.
Which combination correctly describes these two statements?
| Statement 1 | Statement 2 |
A B C D | macroeconomic statement macroeconomic statement microeconomic statement microeconomic statement | macroeconomic statement microeconomic statement macroeconomic statement microeconomic statement |
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31 mark
An individual consumer decides to purchase fewer luxury goods due to an increase in their prices.
Which combination correctly describes these two statements?
| Statement 1 | Statement 2 |
A B C D | macroeconomic statement macroeconomic statement microeconomic statement microeconomic statement | macroeconomic statement microeconomic statement macroeconomic statement microeconomic statement |
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41 mark
Which of the following best characterises the primary focus of macroeconomics?
Investigating the effects of international trade on economic growth
Analysing the behaviour of the overall economy
Studying the interactions between individual consumers and firms
Examining the impact of government policies on unemployment
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51 mark
Which of the following statements is the most true?
A consumer is a macroeconomic decision maker
Competition between firms is likely to influence the average price level
The government is one of the key macroeconomic decision makers in an economy
The behaviour of firms is usually analysed from a macroeconomic point of view
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