Methodology

This list is based on analysis of Pearson Edexcel IGCSE Economics 4EC1 past papers (2019–2024), examiner reports, mark schemes and specification. Topics are ranked by frequency and mark allocation.

Top 10 most frequently tested topics

1. Demand and supply

Evidence: Foundation for microeconomics. Examiner reports note diagram labelling and shift errors.

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

2. Price elasticity of demand (PED)

Evidence: PED appears regularly. Examiner reports note PED formula and application errors.

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

3. Market failure and government intervention

Evidence: Externalities, taxes, subsidies. Core to extended questions.

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

4. The economic problem

Evidence: Scarcity, opportunity cost, factors of production. Appears in most papers.

Covers: scarcity; opportunity cost; factors of production; PPC.

5. Inflation and unemployment

Evidence: Macroeconomic indicators. Examiner reports note definition completeness.

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

6. Fiscal and monetary policy

Evidence: Government spending, interest rates. Common in data response.

Covers: fiscal policy; monetary policy; aggregate demand.

7. International trade and exchange rates

Evidence: Trade, protectionism, exchange rates. Examiner reports note terms of trade vs trade balance confusion.

Covers: comparative advantage; trade; exchange rates; balance of payments.

8. Application to data

Evidence: Examiner reports repeatedly note copying without analysis. Data response marks require application.

Covers: using extract data; interpreting graphs; referencing figures.

9. Cost and revenue (firms)

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

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

10. Economic development

Evidence: Development indicators, GDP. Appears in macro sections.

Covers: GDP; development indicators; inequality.

Revision priority

Use the data—examiner reports flag copying without analysis. Diagram labelling and complete definitions matter. See common mistakes.

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Sources: Edexcel past papers 2019–2024, examiner reports, specification.