Methodology

This list is based on analysis of Cambridge IGCSE Economics 0455 past papers (2019–2024), examiner reports, mark schemes and syllabus structure. Topics are ranked by frequency and mark allocation.

Top 10 most frequently tested topics

1. Demand and supply

Evidence: Foundation for most micro questions. Examiner reports note diagram and interpretation errors.

Covers: demand and supply curves; determinants; equilibrium; shifts.

2. Price elasticity of demand (PED)

Evidence: Examiner reports repeatedly highlight PED confusion. Appears in multiple choice and structured questions.

Covers: PED formula; elastic vs inelastic; factors affecting PED; applications.

3. Market failure and government intervention

Evidence: Externalities, public goods, taxes, subsidies. Core to Paper 2 structured questions.

Covers: market failure; externalities; taxes and subsidies; regulation.

4. The basic economic problem

Evidence: Opportunity cost, factors of production, PPC. Appears in almost every paper.

Covers: scarcity; opportunity cost; factors of production; production possibility curve.

5. Inflation and unemployment

Evidence: Macroeconomic indicators appear regularly. Examiner reports note definition errors.

Covers: causes and effects of inflation; types of unemployment; measurement.

6. Fiscal and monetary policy

Evidence: Government spending, taxation, interest rates. Common in extended responses.

Covers: fiscal policy; monetary policy; aggregate demand; macroeconomic aims.

7. Economic growth and GDP

Evidence: GDP, living standards, development. Examiner reports note injection/withdrawal errors.

Covers: GDP; economic growth; living standards; development indicators.

8. International trade and globalisation

Evidence: Comparative advantage, trade, exchange rates. Examiner reports note comparative vs absolute advantage confusion.

Covers: specialisation; comparative advantage; trade; protectionism; exchange rates.

9. Consumer and producer surplus

Evidence: Examiner reports note consumer surplus calculation errors. Appears in diagram questions.

Covers: consumer surplus; producer surplus; effect of price changes.

10. Cost and revenue (firms)

Evidence: Fixed, variable, total cost; profit. Foundation for firm behaviour.

Covers: types of cost; revenue; profit; break-even.

Revision priority

Demand and supply and PED underpin many questions. Diagrams must be accurate and correctly interpreted. See common mistakes.

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Sources: Cambridge past papers 2019–2024, examiner reports, syllabus.