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The economic problem and methodology
Practice Questions

40 CXC CAPE Economics questions on The economic problem and methodology, 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 The economic problem and methodology.

Try 2 sample questions on The economic problem and methodology

Question 1 · 1 mark · Difficulty 1/3

What is the economic problem?

  1. Unlimited wants set against scarce resources, which forces choice
  2. The tendency of prices to rise over time
  3. The failure of governments to distribute income fairly
  4. The difficulty of measuring national output accurately
Show answer & explanation
✓ Answer: A — Unlimited wants set against scarce resources, which forces choice
Award 1 mark. It applies to a household, a government and the world as a whole, and everything else in the syllabus follows from it.
Question 2 · 1 mark · Difficulty 1/3

What is opportunity cost?

  1. The benefit of the next best alternative forgone
  2. The sum of all the alternatives that were given up
  3. The total amount of money spent on a choice
  4. The cost of an opportunity that later proved unprofitable
Show answer & explanation
✓ Answer: A — The benefit of the next best alternative forgone
Award 1 mark. Note the word next — only one alternative counts, and the money spent is a separate idea altogether.
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20 questions · 25 min · free

CXC CAPE Economics: The economic problem and methodology 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 The economic problem and methodology 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 The economic problem and methodology 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 The economic problem and methodology typically tested on CXC CAPE Economics papers?
The economic problem and methodology 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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