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Cambridge IGCSE Economics

3.5Firms and production

Firms and production in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic33 practice questions2 lessons
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Lessons

  • Demand for factors and labour- or capital-intensive production

    25 min

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  • Production and productivity

    30 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Firms and production: sample question

1 mark

A fictional firm can make 600 pairs of shoes a day by either method. Each worker is paid US$15 a day.

Method Workers Daily cost of machinery (US$)
Labour-intensive 40 120
Capital-intensive 10 450

Calculate the total daily cost of the labour-intensive method.

Complete: US$ …

Only if the answer has a unit, e.g. cm or km/h.

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