Economics 9708/11 Oct Nov 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Identify the most effective solution for the basic economic problem, emphasizing efficient allocation of scarce resources.

2. Analyze the classification of healthcare as a public good when funded by taxation and provided free of charge to users.

3. Examine the effects of shifts in the production possibility curve and their opportunity costs in resource allocation.

4. Assess the implications of price elasticity of supply and demand changes, such as for smartphones or parking spaces, on producers and market outcomes.

5. Evaluate the roles of average and marginal taxation rates in determining income tax burdens, supported by numerical analysis.

6. Discuss macroeconomic phenomena such as cost-push inflation, frictional unemployment, and the impacts of monetary and fiscal policies on economic stability.