Cambridge International (CAIE) · 1 Basic economic ideas and resource allocation (AS) · 1.1 Scarcity, choice and opportunity cost
Cambridge International (CAIE) Economics past paper questions: Scarcity, choice and opportunity cost
Every Cambridge International (CAIE) question on Scarcity, choice and opportunity cost from 2023 to 2025: 1 essay and 6 multiple choice questions. It covers 4.3 Aggregate demand and aggregate supply analysis and 1.5 Production possibility curves. Each question links to its paper, mark scheme and examiner report.
Essay questions on scarcity, choice and opportunity cost
Multiple choice questions
- AS Paper 1, November 2025, Q4
A student chooses to study for a degree in engineering at university rather than take a job working as an apprentice engineer. The apprenticeship lasts five years and involves training while working. What will decrease the opportunity cost…
- AS Paper 1, June 2025, Q2
The diagram is from a chapter on ‘The Fundamental Economic Problem’ in an Economics textbook. It should contain the terms opportunity cost, scarcity and choice in the order that identifies the fundamental economic problem. What is the…
- AS Paper 1, June 2024, Q4
What is the opportunity cost of a virus to the healthcare service in a country?
- AS Paper 1, March 2024, Q3
Which combination best describes the basic economic problem?
- AS Paper 1, March 2024, Q5
What is the opportunity cost to a person of spending $20 on a new pair of sports shoes?
- AS Paper 1, March 2023, Q10
Why does the basic economic problem of scarcity apply to both the rich and the poor?
Question text is quoted from the question papers, © Cambridge University Press & Assessment (UCLES), for students’ private study. Open the official papers and mark schemes from the links on each question. Examiner insights are written with AI assistance and moderated by Finn.