ConceptConceptDocsDocuments

Edexcel IGCSE Economics Calculations

Practise Edexcel IGCSE Economics calculations by working with percentages, wages, average cost formulas and profit changes.

Syllabus
Issue 3 (2026)
Course
Economics 4EC1

Exam points

  • Calculate percentages or percentage changes from national-output and profit data.
  • Use wage rates, hours worked and cost formulas to choose the correct calculation.
  • Show working to two decimal places when profit or percentage-change questions require it.

Covered syllabus points

Percentages and percentage changesAveragesRevenue, costs and profit totalsGross and net income

Calculations 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\%

Calculations 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 }}

Calculations question 3

[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