Economics 0455 · IGCSE · The role of markets in allocating resources
The role of markets in allocating resources — practice question
In 2015, the world experienced many shifts in demand and important technological advances. People were adopting new methods of transferring money, and the number of stock exchanges increased. Some governments also increased the school-leaving age, meaning the lowest age at which children are legally allowed to leave school.
(a)[2]
What items are traded on a stock exchange?
(b)[4]
Explain how money enables specialisation and trade to happen.
(c)[6]
Analyse how technological advances can influence demand and supply.
(d)[8]
Discuss the economic case for and against a government increasing the school-leaving age.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Shares or stocks” …