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Edexcel IGCSE Economics Quantitative Skills

Practise Edexcel IGCSE Economics quantitative skills by calculating percentages, trade balances, wages, profit changes and average cost formulas.

Syllabus
Issue 3 (2026)
Course
Economics 4EC1

Covered syllabus points

CalculationsGraph constructionQuantitative interpretation and decision-making

3 Quantitative skills question 1

[Maximum number: 1]

An economy has a national output of € 300 bn and its current account deficit is € 15 bn.

What is the current account deficit as a percentage of national output?

A

0.05\%

B

2.85\%

C

5%

D

20\%

3 Quantitative skills question 2

[Maximum number: 1]

Which one of the following is the formula for calculating average cost?

A

 Total fixed cost  Quantity produced \frac{\text { Total fixed cost }}{\text { Quantity produced }}

B

 Total revenue  Quantity produced \frac{\text { Total revenue }}{\text { Quantity produced }}

C

 Total cost  Quantity produced \frac{\text { Total cost }}{\text { Quantity produced }}

D

 Total variable cost  Quantity produced \frac{\text { Total variable cost }}{\text { Quantity produced }}

3 Quantitative skills question 3

[Maximum number: 1]

What is the visible trade balance in $bn for the country?

A

$ 30 bn

B

$ 60 bn

C

$ 90 bn

D

$ 250 bn

The fiscal deficit of the US is expected to increase from $1.6tn to $2.6tn over the next 10 years.

3 Quantitative skills question 4

[Maximum number: 1]

A country has a minimum wage of € 6.04 per hour. If a worker provides 35 hours of labour in a week, the lowest weekly wage the worker can earn is

A

€ 6.04

B

€ 205.36

C

€ 211.40

D

€422.80

All question bank results loaded