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Cambridge IGCSE Economics practice

Paper 2 structured question: Households

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Households

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Paper 2Structured Questions1 marks

Household financial behavior during economic changes.

Description

Factors Affecting Household Financial Decisions

Households make decisions on spending, saving, and borrowing based on income, interest rates, and consumer confidence. These factors can vary significantly among different households and can change over time due to economic conditions.

  1. a

    State one factor that affects household spending decisions.

    Aim for approximately 1 distinct marking point.

    [1]

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Paper 2 structured question: Households

Paper 2Structured Questions6 marks

Description

Household Financial Behavior

Households adjust their financial behavior based on various factors such as income levels, interest rates, and overall economic conditions. Understanding these factors is crucial for analyzing spending and saving patterns.

  1. a

    Explain how interest rates can influence household borrowing decisions.

    Aim for approximately 3 distinct marking points.

    [3]
  2. b

    Discuss the impact of consumer confidence on household spending.

    Aim for approximately 3 distinct marking points.

    [3]