Economics 9708/21 Oct Nov 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Analyzing Taiwan’s economic growth drivers in 2021, including export growth, consumption expenditure, and currency appreciation, and assessing their impact on GDP, terms of trade, and industries.

2. Explaining the causes of increased demand for products and evaluating short-run versus long-run price impacts, alongside the relevance of PED and YED for car manufacturers.

3. Discussing government intervention through direct provision of goods and services, its potential success, and the implications of maximum price policies.

4. Exploring taxation policies, comparing the fairness of income versus sales taxes, and evaluating the desirability of balanced budgets versus budget surpluses or deficits.

5. Differentiating import tariffs and quotas, assessing their roles in protectionism, and examining whether the theories of absolute and comparative advantage remain valid despite limitations.