What this practice covers
These questions are drawn from past Cambridge IGCSE papers and filtered to the role of markets in allocating resources. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
Start practising Paper 1 MCQs →
What examiners see students get wrong here
These are the errors that cost marks on the role of markets in allocating resources, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Saying a market must be a physical place.
- Giving only one or two functions of price when the question asks about its role.
- Confusing signalling with incentive. Signalling gives information; incentive gives a reason to act.
- Saying the market allocates to those who need goods. It allocates to those who can pay.
- Describing the price change without explaining the functions.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: The Role of Markets in Allocating Resources revision notes.