Edexcel Theme 1 Practice Questions

Economics as a social science, positive and normative statements, the economic problem, production possibility frontiers · 43 questions

• 1.1.1 Economics as a Social Science 6 questions
• 1.1.2 Positive and Normative Statements 6 questions
• 1.1.3 The Economic Problem 7 questions
• 1.1.4 Production Possibility Frontiers 9 questions
• 1.1.5 Specialisation and the Division of Labour 8 questions
• 1.1.6 Types of Economies 7 questions

Rational decision making, demand, price elasticity, supply, price determination, consumer surplus · 79 questions

• 1.2.1 Rational Decision Making 6 questions
• 1.2.2 Demand 8 questions
• 1.2.3 Elasticities of Demand 10 questions
• 1.2.4 Supply 7 questions
• 1.2.5 Price Elasticity of Supply 8 questions
• 1.2.6 Price Determination 8 questions
• 1.2.7 The Price Mechanism 7 questions
• 1.2.8 Producer and Consumer Surplus 8 questions
• 1.2.9 Indirect Taxes and Subsidies 10 questions
• 1.2.10 Alternative Views of Consumer Behaviour 7 questions

Types of market failure, externalities, public goods, information gaps · 28 questions

• 1.3.1 Types of Market Failure 5 questions
• 1.3.2 Externalities 10 questions
• 1.3.3 Public Goods 6 questions
• 1.3.4 Information Gaps 7 questions

Government intervention in markets, government failure · 16 questions

• 1.4.1 Government Intervention in Markets 9 questions
• 1.4.2 Government Failure 7 questions