0455

Cambridge IGCSE Economics (0455) - October-November 2022 Past Papers

Download 14 free IGCSE Economics past papers, mark schemes, and examiner reports from the October-November 2022 Cambridge examination session. Includes question papers for all variants with full solutions.

About IGCSE Economics (0455)

IGCSE Economics introduces microeconomics, macroeconomics, international trade, and economic development. Candidates must analyze economic data, evaluate policies, and explain how markets and governments interact.

What this exam tests: Key skills include diagram analysis, data interpretation, and evaluating economic arguments.

Papers available in variants 11, 12, 13 for different time zones. All variants cover the same Economics syllabus with equal difficulty.

Grade Thresholds

Study Resources for Economics

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0455 October-November 2022 Papers

0455 Paper 1 - Multiple Choice

45 min • 30 marks

Tests broad syllabus knowledge with 40 questions. Each question has four options (A-D). Core tier paper.

Select variant:
Question Paper
Mark Scheme
QP + MS QP + ER

All variants (different time zones):

QP:
v1
v2
v3
MS:
v1
v2
v3

0455 Paper 2 - Structured Questions

2 hr 15 min • 90 marks

Extended tier multiple choice with more challenging questions covering the full syllabus. 40 questions, 45 minutes.

Select variant:
Question Paper
Mark Scheme
QP + MS QP + ER

All variants (different time zones):

QP:
v1
v2
v3
MS:
v1
v2
v3

Other Resources

Additional materials to help you prepare and understand how exams are marked.

Examiner Report

Insights from examiners on how students performed. Learn common mistakes to avoid and what examiners look for in top answers.

View

Examiner Insights - October-November 2022

Key feedback from Cambridge examiners on how students performed

Key Takeaways

  • • Carefully read and understand the instructions and questions before answering, tailoring responses to the specific requirements (identify, explain, analyse, discuss).
  • • Allocate your time wisely during the exam, paying attention to the marks allocated for each question and sticking to any specified limits on the number of examples.
  • • Thoroughly review core economic concepts such as market failure, elasticity, real income, and government intervention, ensuring you understand their definitions and applications.
  • • Practice interpreting economic data and graphs, looking for trends, relationships, and exceptions, and use data to support your analysis.
  • • Pay close attention to the context of the question, especially whether it is asking about firms, the economy, or specific actors (e.g., consumers, workers).
Paper 11 - Multiple Choice

The questions for which most candidates selected the correct answer covered different parts of the syllabus and tested different skills. Some questions, related to taxes and market failures, were answered incorrectly by a significant number of candidates.

Study Tips:

  • ✓ Practice drawing and interpreting supply and demand diagrams in various scenarios.
  • ✓ Review the different types of market failures and their causes.

Common Mistakes:

Q6 (Taxes)
✗ Selecting a shift in the demand curve instead of a movement along the demand curve after a tax increases price.
→ Remember that a change in price caused by a tax leads to a *movement along* the existing demand curve. A *shift* in the demand curve represents a change in underlying demand factors, not price.
Q8 (Market Failure)
✗ Identifying external costs of production, over-consumption of de-merit goods, and under-consumption of merit goods as NOT market failures.
→ Carefully review the definition of market failure. External costs, over-consumption of demerit goods, and under-consumption of merit goods all lead to misallocation of resources and are therefore market failures.
Q16 (Government Budget)
✗ Failing to recognise indirect tax revenue as part of government revenue.
→ Be aware of the different components of a government budget, including revenue (e.g., direct and indirect taxes) and expenditure.
Paper 12 - Multiple Choice

Many candidates performed well on questions covering a range of syllabus areas and testing diverse skills. However, questions related to government intervention and economic growth presented significant challenges.

Study Tips:

  • ✓ Practice interpreting economic data and graphs, paying close attention to axes and units.
  • ✓ Review the causes and consequences of both inflation and unemployment.
  • ✓ Focus on the definitions of Absolute and Relative Poverty

Common Mistakes:

Q8 (Market Failure, Government Intervention)
✗ Focusing on revenue generated from a toll rather than identifying the reduction of traffic congestion (addressing externalities) as the primary reason for road construction.
→ Carefully consider the *stated reason* in the question and link it to relevant economic concepts like externalities and market failure.
Q18 (Interest Rates, Inflation)
✗ Failing to recognise that reduced interest rates leading to increased borrowing and spending could cause a rise in prices (inflation).
→ Understand the relationship between interest rates, borrowing, spending, and inflation. Lower interest rates often lead to increased demand and potentially higher prices.
Q19 (Economic Growth Rate)
✗ Interpreting a reduction in the economic growth rate as a decline in economic growth, even when the growth rate remained positive.
→ Distinguish between a decrease in the *rate* of economic growth and an actual *decline* in economic growth. A positive growth rate indicates continued growth, even if slower than before.
Q22 (Trade Unions, Inflation)
✗ Not linking increased trade union power to demands for wage increases, leading to increased spending and potential inflation.
→ Understand how trade union actions can influence wages, demand, and prices in the economy.
Paper 13 - Multiple Choice

Candidates generally performed well, with most questions answered correctly by a high percentage of examinees. One question, regarding the impact of rising income tax rates on real income, proved particularly challenging.

Study Tips:

  • ✓ Practice calculating real income using nominal income, inflation rates, and tax rates.
  • ✓ Ensure you read questions carefully, looking for keywords like 'real' or 'must'.

Common Mistakes:

Q13 (Real Income)
✗ Failing to consider that a rise in wages or a fall in prices could offset the impact of a rise in income tax rates on real income.
→ Remember that real income is nominal income adjusted for inflation and taxes. To determine if real income has fallen, you must consider changes in wages, prices, and taxes simultaneously.
Paper 21 - Structured Questions

Candidates are largely making rubric errors and struggle with the time allocated per question. Reading the instructions carefully, answering the questions appropriately, and sticking to the correct number of responses are vital in this paper.

Study Tips:

  • ✓ Carefully read and understand the instructions and questions before answering.
  • ✓ Practice time management during past paper attempts.

Common Mistakes:

QGeneral (Rubric Errors)
✗ Answering more than 3 questions in Section B, or fewer than 3.
→ Adhere to the instructions on the front page: answer only three questions from Section B.
QGeneral (Time Allocation)
✗ Spending too long on shorter questions, leaving insufficient time for the longer, higher-mark questions.
→ Allocate your time wisely. Be aware of the marks available for each question and adjust your response length accordingly. Practice time management during revision.
Q1f (Data Analysis)
✗ Taking figures from the data without providing analysis or interpretation.
→ Don't just describe the data; analyse it! Look for relationships, trends, and exceptions, and explain them using economic principles.
Q1g & 1h (Firm vs Economy)
✗ Answering about the benefits to the economy when the question asks about the benefits to the firm, and vice versa.
→ Pay close attention to the wording of the question and ensure your answer directly addresses what is being asked.

Insights extracted from the official Cambridge Examiner Report for 0455 October-November 2022. View full report →

About Cambridge IGCSE Economics (0455)

Cambridge IGCSE Economics (0455) is one of the most popular qualifications taken by students worldwide. The October-November 2022 examination session included 2 paper components, each testing different skills and knowledge areas.

This page contains all 0455 past papers from October-November 2022, including question papers (QP), mark schemes (MS), and examiner reports (ER). Use these resources to practice under timed conditions and understand how examiners award marks.

View all 0455 past papers → | All 2022 sessions →

Get Economics Study Tips

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0455 Study Tips & FAQ

What are paper variants?

Cambridge releases multiple variants of each paper (e.g., Paper 11, 12, 13) to accommodate different time zones around the world and maintain exam security.

  • Variant 1 (e.g., 11, 21): Usually for Zone 1 (Americas)
  • Variant 2 (e.g., 12, 22): Usually for Zone 2 (Europe, Africa)
  • Variant 3 (e.g., 13, 23): Usually for Zone 3 (Asia, Oceania)

All variants cover the same syllabus and have similar difficulty. Practice with any variant to prepare effectively for your exam.

How to use Mark Schemes effectively

Mark schemes show exactly how examiners award marks for each question. Understanding them helps you write answers that earn full marks.

Example from a Physics mark scheme:

Q: Calculate the speed of a car that travels 150m in 5 seconds. [2]

Mark scheme answer:

• speed = distance / time [1 mark for formula]

• speed = 150 / 5 = 30 m/s [1 mark for correct answer with unit]

Tips:

  • Look for key words that must appear in your answer
  • Note how many points are needed for each mark
  • Check if units are required for the final mark
  • Understand the difference between "state" (brief) and "explain" (detailed)
Understanding Grade Thresholds

Grade thresholds show the minimum marks needed for each grade. They vary each session based on paper difficulty — harder papers have lower thresholds.

Example Grade Thresholds (out of 100 total):

A*
90+
A
80-89
B
70-79
C
60-69

* Actual thresholds vary by subject and session

How to use thresholds:

  • Set realistic target marks based on your goal grade
  • Track your practice paper scores against thresholds
  • Remember: you don't need 100% for an A* — aim for consistency
  • Compare thresholds across sessions to gauge difficulty trends
How is the topic breakdown calculated?

The "Topics Breakdown by Paper" section above shows which syllabus topics are tested in each paper and how many marks they carry. Here's how we calculate this:

Our methodology:

  1. Extract questions: We analyze each question paper (QP) and identify individual questions and their mark allocations (shown in square brackets, e.g., [3]).
  2. Match to syllabus: Each question is matched to the official Cambridge 0455 syllabus topics based on keywords, concepts, and question content.
  3. Sum marks per topic: For each paper, we add up the marks for all questions testing the same topic. For example, if Q1 (4 marks) and Q5b (3 marks) both test "Enzymes", that topic shows as "7 marks" for that paper.

Example: If Paper 3 shows "Photosynthesis - 13 marks", it means questions worth a total of 13 marks (out of the paper's 80 marks) tested the Photosynthesis topic from the Plant Nutrition unit of the syllabus.

How to use this: Look at the paper(s) you'll be taking (e.g., Papers 2, 4, 6 for Extended tier). The topics with the highest marks in YOUR papers are where you should focus your revision. A topic worth 15 marks deserves more study time than one worth 3 marks.

Note: Our topic matching may be inaccurate for questions that span multiple topics. Use this as a guide alongside the official syllabus.

How to Use IGCSE Economics Past Papers

📝 Timed Practice

Complete papers under exam conditions. 0455 Paper 4 is 1 hour 15 minutes - practice finishing within this time to build exam stamina.

✅ Self-Marking

Use the mark scheme to score your answers. Look for marking points you missed and understand what examiners expect in Economics responses.

📊 Examiner Reports

Read the 0455 examiner report to see common mistakes. Focus revision on topics where candidates typically lose marks.

🎯 Grade Targets

Check grade thresholds to see how many marks you need for your target grade. An A* in IGCSE Economics typically requires 85-90%.

Frequently Asked Questions

Where can I download IGCSE Economics October-November 2022 past papers?
You can download all IGCSE Economics (0455) October-November 2022 past papers directly from this page. We provide 14 files including question papers, mark schemes, and examiner reports for all variants (11, 12, 13). Click "View" to open in browser or "Download" to save the PDF.
Are 0455 mark schemes included?
Yes, mark schemes for all 0455 October-November 2022 papers are included. Each question paper has a corresponding mark scheme showing expected answers and mark allocation.
What papers are available for IGCSE Economics 0455?
IGCSE Economics (0455) has 2 papers: Paper 1 (Multiple Choice), Paper 2 (Structured Questions). Core tier students take Papers 1, 3, 5/6. Extended tier students take Papers 2, 4, 5/6.
What is the difference between paper variants 11, 12, and 13?
The three variants (11, 12, 13) are different versions of the same paper used in different time zones to prevent cheating. All variants test the same syllabus content at the same difficulty level. You can practice with any variant as they are equally valid for revision.
How can I practice these past papers effectively?
Use our free Exam Hub to practice past papers like real exams. It lets you view question papers and mark schemes side-by-side, so you can self-mark your answers. No sign-up required, works with any PDF, and your files stay completely private.

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