Mini practice paper: 8 questions
Mixed-difficulty questions from across the Economics syllabus. Tap "Show answer" after each to check yourself.
Q1 · Difficulty 1/3
Price elasticity of demand (PED) measures the responsiveness of quantity demanded to a change in:
- Income
- Price
- Tastes
- Population
Show answer & explanation
✓ Answer: B — Price
PED measures how quantity demanded responds to a price change.
Q2 · Difficulty 1/3
Which of the following is a characteristic of a developing country?
- High per capita income
- Dependence on primary sector activities
- Low population growth rate
- Diversified export base
Show answer & explanation
✓ Answer: B — Dependence on primary sector activities
Award 1 mark for identifying that developing countries rely heavily on agriculture, mining, and fishing. A is incorrect because high per capita income is a feature of developed countries. C is incorrect because developing countries typically have high population growth rates. D is incorrect because developing countries usually have a narrow export base.
Q3 · Difficulty 1/3
Economics is best described as the study of how people use ___ resources to satisfy unlimited wants.
- worthless
- unlimited
- scarce
- free
Show answer & explanation
✓ Answer: C — scarce
Economics studies the allocation of scarce resources among competing unlimited wants.
Q4 · Difficulty 1/3
International trade is the exchange of goods and services between:
- Firms in one town
- Different countries
- Households only
- Banks only
Show answer & explanation
✓ Answer: B — Different countries
International trade takes place between different countries.
Q5 · Difficulty 1/3
A hotel worker in Barbados is laid off every year between May and November when tourist arrivals decline. This worker is experiencing
- cyclical unemployment
- seasonal unemployment
- structural unemployment
- frictional unemployment
Show answer & explanation
✓ Answer: B — seasonal unemployment
Award 1 mark for seasonal unemployment. This occurs when employment fluctuates according to regular patterns in certain industries, such as tourism in the Caribbean. A is incorrect — cyclical unemployment relates to the business cycle. C is incorrect — structural unemployment involves permanent industrial change. D is incorrect — frictional unemployment is short-term job searching.
Q6 · Difficulty 1/3
Inflation reduces the ___ of money.
- supply
- weight
- purchasing power
- colour
Show answer & explanation
✓ Answer: C — purchasing power
As prices rise, each unit of money buys less — purchasing power falls.
Q7 · Difficulty 1/3
A student studying the Barbados economy noted that fishermen, hotel workers, and bank clerks all contribute to production. These workers represent which factor of production?
- Land
- Labour
- Capital
- Enterprise
Show answer & explanation
✓ Answer: B — Labour
Award 1 mark for identifying labour as the human effort (physical and mental) used in production. A is incorrect — land refers to natural resources. C is incorrect — capital refers to man-made aids to production. D is incorrect — enterprise refers to the risk-taking and organisational function.
Q8 · Difficulty 1/3
Fixed costs are costs that:
- Equal total revenue
- Vary with output
- Do not change with the level of output
- Are always zero
Show answer & explanation
✓ Answer: C — Do not change with the level of output
Fixed costs (e.g. rent) stay the same regardless of output.
CXC CSEC Economics FAQ
What does the CXC CSEC Economics exam look like?
The CXC CSEC Economics exam is structured across 3 components. Paper 1 (Section A): 60 multiple-choice questions, 1 mark each. 75 minutes. Tests knowledge across the whole syllabus. Paper 2: Structured short-answer + 1 extended response question. Section A is compulsory; Section B has a choice. Approximately 2 hours 10 minutes. School-Based Assessment (SBA): Coursework component graded by the teacher, externally moderated. Worth ~20-30% of the final grade depending on subject. Total exam time: ~3.5 hours across Paper 1 and Paper 2 sittings.
Can I download a free CXC CSEC Economics past paper?
Real CXC past papers are published directly by CXC on their official website. Kramizo doesn't redistribute copyrighted past papers, but we do generate free AI-written practice papers in the exact same style — same command words, same difficulty tier, same mark conventions. Use this practice paper as warm-up, then time yourself on official past papers before exam day.
How is CXC CSEC Economics graded?
Grades: I (highest) to VI (lowest). A grade of III or above is typically required for further study. Kramizo's practice questions are tagged with difficulty 1-3 mapping roughly to the lower, middle, and top grade boundaries you'll encounter in the real exam.