Q1 · Difficulty 1/3
Profit is total revenue minus total:
- output
- costs
- sales
- price
Show answer & explanation
✓ Answer: B — costs
Profit = revenue − costs.
WJEC · GCSE · Economics
Free WJEC GCSE Economics
Practice Paper
8 mixed-difficulty practice questions in the style of real WJEC GCSE papers — answers, mark-scheme-style explanations, and the official exam structure all on one page.
Take a Mini Mock →What the real WJEC GCSE Economics paper looks like
Paper 1
Approximately 1 hour 30 minutes, ~70-100 marks. Covers Topics 1-4 of the specification.
Paper 2
Approximately 1 hour 30 minutes, ~70-100 marks. Covers Topics 5-8 of the specification.
Paper 3
Where applicable — e.g. Combined Science, Languages. Includes synoptic and applied questions.
Total exam time: ~3 hours across two or three papers.
Grading: Grades: 9 (highest) to 1 (lowest), with U (ungraded). A grade of 4 is a standard pass; 5 is a strong pass.
Grading: Grades: 9 (highest) to 1 (lowest), with U (ungraded). A grade of 4 is a standard pass; 5 is a strong pass.
Mini practice paper: 8 questions
Mixed-difficulty questions from across the Economics syllabus. Tap "Show answer" after each to check yourself.
Q2 · Difficulty 1/3
A sustained rise in the general price level is:
- deflation
- recession
- growth
- inflation
Show answer & explanation
✓ Answer: D — inflation
Inflation is a general rise in prices.
Q3 · Difficulty 1/3
The total amount consumers wish to buy at each price is:
- revenue
- demand
- supply
- cost
Show answer & explanation
✓ Answer: B — demand
Demand is quantity consumers will buy.
Q4 · Difficulty 2/3
The gap between rich and poor countries is the development:
- index only
- surplus
- gap
- cycle
Show answer & explanation
✓ Answer: C — gap
The development gap separates rich and poor nations.
Q5 · Difficulty 2/3
Natural resources used in production are the factor called:
- enterprise
- land
- labour
- capital
Show answer & explanation
✓ Answer: B — land
Land is natural resources.
Q6 · Difficulty 2/3
Rent on a factory that must be paid whatever the output is a:
- revenue
- fixed cost
- variable cost
- marginal cost
Show answer & explanation
✓ Answer: B — fixed cost
Rent is a fixed cost.
Q7 · Difficulty 2/3
Price elasticity of demand measures how demand responds to a change in:
- price
- weather
- colour
- location
Show answer & explanation
✓ Answer: A — price
PED measures responsiveness to price.
Q8 · Difficulty 2/3
A government payment to lower production costs is a:
- tariff
- fine
- subsidy
- tax
Show answer & explanation
✓ Answer: C — subsidy
Subsidies reduce costs to encourage output.
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WJEC GCSE Economics FAQ
What does the WJEC GCSE Economics exam look like?
The WJEC GCSE Economics exam is structured across 3 components. Paper 1: Approximately 1 hour 30 minutes, ~70-100 marks. Covers Topics 1-4 of the specification. Paper 2: Approximately 1 hour 30 minutes, ~70-100 marks. Covers Topics 5-8 of the specification. Paper 3: Where applicable — e.g. Combined Science, Languages. Includes synoptic and applied questions. Total exam time: ~3 hours across two or three papers.
Can I download a free WJEC GCSE Economics past paper?
Real WJEC past papers are published directly by WJEC 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 WJEC GCSE Economics graded?
Grades: 9 (highest) to 1 (lowest), with U (ungraded). A grade of 4 is a standard pass; 5 is a strong pass. 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.