This is the front door to original Economics practice. Each question is written for this site, each answer is fully worked, and each topic has its own practice set. Use the four samples below to warm up, then move to the topic sets.
Four warm-up questions
Try each on paper before opening the answer.
1. Farid has a free Saturday afternoon. He can (a) work for RM40, (b) play in a football match, or (c) study. He chooses (a), and his next most valued choice would have been (b). What is his opportunity cost?
Show answer
Opportunity cost is the value of the next most valued alternative given up. The next most valued was the football match, so the opportunity cost is the football match. It is not the RM40, which he gained, and it is not both (b) and (c).
2. In a fictional town, the price of school bags falls from RM60 to RM50 and more bags are bought. Later, a popular video makes one style fashionable, so more bags are bought at every price. Which event is a movement along the demand curve and which is a shift?
Show answer
The price fall is a movement along the demand curve, because price is the changing variable on the axis. The fashion change is a shift of the demand curve to the right, because a non-price factor, tastes, changed.
3. A fictional market has these figures. Find the equilibrium price and the condition at RM6.
| Price (RM) | Quantity demanded | Quantity supplied |
|---|---|---|
| 2 | 80 | 20 |
| 4 | 60 | 60 |
| 6 | 40 | 100 |
Show answer
Equilibrium is where the two quantities match: RM4 and 60 units. At RM6, supply is 100 and demand is 40, so there is a surplus of 60 (100 − 40). Price would tend to fall.
4. A seller raises the price of a notebook from RM20 to RM22. The quantity sold falls from 500 to 450. Calculate price elasticity of demand using the starting values as the base.
Show answer
%Δ price = 2 ÷ 20 = +10%. %Δ quantity = −50 ÷ 500 = −10%. PED = −10 ÷ 10 = −1, so the response is exactly proportional (unit elastic). Both changes use the starting value as the base.
Which topic practice set should you use?
Each set has original questions ordered from easier to harder, with full explanations.
| Topic | Practice set |
|---|---|
| Scarcity, choice and opportunity cost | M184 practice |
| Demand relationships | M186 practice |
| Supply and equilibrium | M187 practice |
| Elasticity | M188 practice |
| Data responses | M199 practice |
For other topics, start at the topic page and follow its child pages. The topic map lists every module, such as market failure concepts and inflation and unemployment.
How to build a mixed session
A mixed session is more like an exam because the topic is not announced. The original mixed-practice builder assembles a printable session from reviewed original questions with solutions. If it has no suitable questions, it says so instead of inventing unreviewed answers.
A good session has four or five questions across at least three topics, a short time limit you set yourself, and a finishing step where you log each mistake.
If you got these wrong
| What went wrong | Where to go |
|---|---|
| Opportunity cost answered with the money gained | Identify the next most valued alternative |
| Shift and movement mixed up | Shift versus movement help page |
| Equilibrium or surplus misread | Find an equilibrium from schedules |
| Elasticity with mismatched bases | Percentage base help page |
Put the repeated ones in your mistake log.
Where does a teacher help?
Practice shows you what went wrong. A teacher helps with why, and with how to begin when the question looks unfamiliar. Online one-to-one Economics tuition lets a teacher see your working as you write it. Use the study route to decide what to practise next.