IGCSE Economics 0455 — October-November 2024 Past Papers, Topics & Exam Tips
The Cambridge IGCSE Economics (0455) October-November 2024 session consisted of 2 papers across 6 variants, covering 28 syllabus topics across all papers. This page links to every question paper, mark scheme, grade threshold and session feedback document released by Cambridge for this session, together with a topic-level breakdown of what was tested and topic-matched exam tips in our own voice.
Study Resources for Economics
Prepare for your exam with these complementary resources:
Jump straight to the topics this session tested most:
0455 October-November 2024 Papers
View syllabus topics tested in Paper 1 (16 topics, 30 marks total)
This 0455 Paper 1 from October-November 2024 tests 16 different syllabus topics. The highest-weighted topic is Firms and production (Microeconomic decision makers) worth 5 marks out of 30 total marks. Other significant topics include Workers (3 marks) and The nature of the economic problem (2 marks).
Mark distribution by topic:
Understanding which topics carry the most marks helps you prioritize your Economics revision. Practice questions from high-mark topics like Firms and production to maximize your score.
0455 Paper 2 - Structured Questions
2 hr 15 min • 90 marks
View syllabus topics tested in Paper 2 (5 topics, 90 marks total)
This 0455 Paper 2 from October-November 2024 tests 5 different syllabus topics. The highest-weighted topic is Price elasticity of demand (The allocation of resources) worth 30 marks out of 90 total marks. Other significant topics include Workers (20 marks) and Market economic system (20 marks).
Mark distribution by topic:
Understanding which topics carry the most marks helps you prioritize your Economics revision. Practice questions from high-mark topics like Price elasticity of demand to maximize your score.
Topic coverage in October-November 2024
Marks in this session were weighted unevenly across the 28 syllabus topics, with the heaviest emphasis on Demand. Substantial weight also fell on Firms and production and Price elasticity of demand , with Workers and Money and banking rounding out the five most-tested areas. Together these five topics made up about 48% of the topic-level marks awarded in the October-November 2024 session — a useful signal for where to focus revision time. The full topic-by-paper breakdown is further down the page.
Exam tips for topics in October-November 2024
- → Demand: Remember, a change in the *own* price prompts movement *along* the demand curve, whereas a change in something else (like a related good's price) makes the *entire* demand curve shift.
- → Price elasticity of demand: Grasp the relationship: if demand is elastic, the percentage change in quantity exceeds the percentage change in price; therefore, a price hike shrinks revenue.
What was tested on each paper — 0455 October-November 2024
Here's which syllabus topics appeared in each of the 2 Economics 0455 papers in October-November 2024 and how the marks broke down. Focus your revision on the papers you're sitting. Click any topic below to jump straight to our revision notes, or browse the full Economics 0455 revision guide →.
Paper 1 — Multiple Choice · 30 marks total
Tested 16 topics. The heaviest-weighted were Firms and production (5m), Workers (3m), The nature of the economic problem (2m), Factors of production (2m), Money and banking (2m) and Macroeconomic aims (2m), plus 10 other topics.
Paper 2 — Structured Questions · 90 marks total
Tested 5 topics. The heaviest-weighted were Price elasticity of demand (30m), Workers (20m), Market economic system (20m), Government role in economy (20m) and Population (20m).
0455 October-November 2024 at a glance
- Papers: 2 (6 variants total)
- Topics covered: 28
- Highest-weighted topic: Demand
- Grade thresholds: released by Cambridge (linked above)
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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.
Which variant you sit is set by your school's administrative zone: in the November 2026 timetable, for 0455, Variant 1 is sat in Zones 1 and 2, Variant 2 in Zones 3 and 4, and Variant 3 in Zones 5 and 6. Which zones sit which variant differs from subject to subject, so ask your exams officer which zone your school is in.
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.
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.
November 2024, option X (components 11, 21), out of 150:
From the Cambridge grade threshold table, November 2024. Each option has its own thresholds: see every 0455 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:
- Extract questions: We analyze each question paper (QP) and identify individual questions and their mark allocations (shown in square brackets, e.g., [3]).
- Match to syllabus: Each question is matched to the official Cambridge 0455 syllabus topics based on keywords, concepts, and question content.
- 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 the same topic, that topic shows as "7 marks" for that paper.
How to use this: Look at the paper(s) you'll be taking. 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 2 (Structured Questions) is 2 hr 15 min - 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.
🎯 Grade Targets
In November 2024, an A* in IGCSE Economics needed 122 to 124 out of 150 (81% to 83%), depending on the option (Cambridge grade threshold table, November 2024). See the grade thresholds for every 0455 session.
Frequently Asked Questions
Where can I download IGCSE Economics October-November 2024 past papers?
Are 0455 mark schemes included?
What papers are available for IGCSE Economics 0455?
What is the difference between paper variants 11, 12, and 13?
How can I practice these past papers effectively?
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