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Consumer and producer theory
Practice Questions

40 CXC CAPE Economics questions on Consumer and producer theory, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Consumer and producer theory.

Try 2 sample questions on Consumer and producer theory

Question 1 · 1 mark · Difficulty 1/3

What is marginal utility?

  1. The total satisfaction from consuming all units of a good
  2. The addition to total utility from consuming one more unit
  3. The satisfaction per dollar spent on a good
  4. The satisfaction lost when a good becomes more expensive
Show answer & explanation
✓ Answer: B — The addition to total utility from consuming one more unit
Award 1 mark. It is always the difference between consecutive totals, which is where most arithmetic errors in this topic arise.
Question 2 · 1 mark · Difficulty 1/3

What does the law of diminishing marginal utility state?

  1. The price of a good falls as more of it is produced
  2. As consumption rises in a given period, the satisfaction from each additional unit eventually falls
  3. Consumers eventually stop buying a good altogether
  4. Total satisfaction falls as more of a good is consumed
Show answer & explanation
✓ Answer: B — As consumption rises in a given period, the satisfaction from each additional unit eventually falls
Award 1 mark. Total utility is still rising while this happens — it is the additions that shrink.
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20 questions · 25 min · free

CXC CAPE Economics: Consumer and producer theory FAQ

Is Kramizo free for CXC CAPE students preparing for Economics?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Consumer and producer theory practice with other Economics topics or even switch to a totally different CXC CAPE subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Consumer and producer theory questions aligned to the official CXC CAPE Economics syllabus?
Every question is written against the published CXC CAPE Economics specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real CXC CAPE paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from CXC CAPE.
How is Consumer and producer theory typically tested on CXC CAPE Economics papers?
Consumer and producer theory appears across multiple question types on real CXC CAPE Economics papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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