Cambridge IGCSE · Economics (0455)

Mixed economic system: Practice Questions

4 multiple-choice questions marked as you go, and 5 written questions with worked solutions. All on Mixed economic system.

9 questions23 marksFree, no account

Question 1

1 mark

Which statement best defines a mixed economic system?

Question 2

1 mark

In a mixed economic system, the government often intervenes to address market failure. Which measure is most likely used to reduce the consumption of demerit goods like cigarettes?

Question 3

1 mark

Which feature is most characteristic of a mixed economic system but not a market economic system?

Question 4

1 mark

A government in a mixed economy decides to provide a subsidy to domestic solar panel manufacturers.

What is the most likely microeconomic effect of this intervention?

Question 5

2 marks

Define a mixed economic system.

Write your answer out first, then check it against the worked solution.

Question 6

4 marks

Explain how a government in a mixed economic system might use subsidies to address a market failure where merit goods are under-consumed.

Write your answer out first, then check it against the worked solution.

Question 7

2 marks

Identify two examples of government microeconomic policy measures that can be used to intervene in a mixed economic system.

Write your answer out first, then check it against the worked solution.

Question 8

6 marks

(a) Define a mixed economic system.

(b) Explain two ways in which a government in a mixed economic system can intervene to reduce the consumption of demerit goods.

(c) Analyze how the direct provision of public goods, such as street lighting, helps overcome the drawbacks of a market economic system.

Write your answer out first, then check it against the worked solution.

Question 9

5 marks

(a) Define a mixed economic system.

(b) Explain two key characteristics of a mixed economic system.

(c) Briefly explain how government intervention addresses the under-provision of public goods in a mixed economy.

Write your answer out first, then check it against the worked solution.

* The content provided by thinka is generated by AI and may not always be accurate or up-to-date. Please use it as a supplementary resource and verify with official materials.

You've seen the model answer. Now get yours marked.

This page can show you how a good answer looks. It cannot tell you what your answer was missing. thinka marks your written work against the real mark scheme in about 15 seconds.

Get My Answers Marked Back to the notes

Want more questions like these? Get a fresh set on this topic, graded as you go.