Economics 9708/12 Oct Nov 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Opportunity cost variations and implications on production possibility curves as production increases for specific goods.

2. Classification and characteristics of goods like public, private, and merit goods, with real-life examples like toll-free roads.

3. Income elasticity of demand analysis, identifying elasticities through percentage changes in income and demand relationships.

4. Price determination and market equilibrium dynamics, including effects of supply, demand, and taxation on curves.

5. Inflation and economic growth trends using scenarios like disinflation, recession, and shifts in production possibility frontiers.

6. Policies targeting macroeconomic stabilization, addressing income inequality through taxation, and international trade influences on current account deficits.