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CAIE O Level Economics 2281 Tips and Tricks to ace your Exam

Understanding the keywords
It’s very important to understand the keywords in the question paper, when it says;
Give the correct term.  Sentences are not required.

Example:-1, Identify the factors that determine the population growth in a country. [3marks]
Possible answer
Birth rate (1) , Death rate (1) , Net migration rate (1).

Example:-2, List out any three causes of a change in demand for a good. [3marks] 
Possible answer 
Income of the people(1) , Advertising (1) , Taste and preference (1).

Give the required answer.  Sentences are not required 
Example:- State any three functions of a commercial bank. [3marks]
Possible answer
Accepting deposits (1) , Making payments (1) , Lending money (1).

Give the exact meaning, Nothing else is required 
Example 1; Define inflation. [3marks]
Possible answer
A persistent (1) , rise in the (1) , general price level (1).

Example 2:-, Define price elasticity of demand. [3marks]
Possible answer
A change in quantity demanded (1) in response (1) to change in price (1)

Use complete sentences and say how the subject works.  Give important features and try to analyze the cause. 
Example :-, Explain the concept of opportunity cost by using an example. [5marks]
Possible answer
The meaning (2) , why and how (1) , An example (2).
Opportunity cost is a next best alternative forgone in order to obtain the best choice. Waleed wants to see a football match starting at 7pm. And this time is the time for his extra class. He choose to cancel the extra class and saw the football match. Here , the opportunity cost of watching the football match is the missed extra class. Because he forgoes the extra class in order to see the match.

Use complete sentences and give as much details as possible about the characteristics of the subject.
Example :- Describe the likely population structure to be found in a developing country. [5marks]
Possible answer
The meaning developing country(2) , A brief explanation of three characteristics of developing country such as high birth rate , high death rate , low life expectancy, more younger age group, low working age group, low ageing population etc.;(3).

Explain fully both sides of the arguments or questions and then state a conclusion.
Example :-Discuss whether economic growth is always advantages?.[8 marks]
Possible answer
Meaning of economic growth.
An important government aim.
Explain any three advantages.
Make a conclusion with the explanation of any two or three disadvantages of economic growth.


Technique 1
Answer according to the keyword used in the question.

Technique 2
Answer according to the  marks given. 

Technique 3
Give the meaning of economic term mentioned  in the beginning part of the answer.

Technique 4
Explain the main content of the question 

Diagrams may be used in any questions but are not necessarily required unless the question asks for them.
If diagrams are used, you need to be aware that they should correctly label all the aspects.
Curves, axes and direction of any movement of curves.
Unless the question asks for a diagram without an explanation, candidates should provide a narrative explanation of the diagram.
They should not just draw a diagram that is unexplained.
You will be required a calculator to calculate the RPI.


Make sure you have practiced at least 10 years of past papers as questions do repeat in P1.
Manage your time effectively
Take calculators with you to solve a numerical question
If you’re unsure about the answer, don’t spend too much time on one question, simply just make a guess
You should NOT leave any topic and cover the whole contents of the syllabus

Read all the questions carefully and plan your answer accordingly
Make sure you don’t write IRRELEVANT stuff.
Be sure that you have answered all the parts of the question.
Time management is very important manage your time effectively
Practice at least 10 years of past papers from latest to oldest.
Do not forget to go through the ‘Example Candidate Response Booklet’.

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