Economics 9708/31 Oct Nov 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Utility and satisfaction concepts, including the effects of diminishing marginal utility on total satisfaction and consumer decisions.

2. Analysis of cost curves and economies of scale, focusing on short-run and long-run cost interactions, diminishing returns, and barriers to entry.

3. Market structure characteristics like price discrimination conditions, contestability, and oligopolistic behavior under the kinked demand curve model.

4. Externalities and cost-benefit analysis, incorporating concepts like private, social, and external costs, and their implications for policy interventions.

5. Macroeconomic tools addressing unemployment, inflation, and inequality, including the accelerator theory, fiscal policies, and regressive taxation effects.

6. Measurement tools and inequality analysis using Lorenz curves, Gini coefficients, and the Kuznets curve for understanding economic welfare and income distribution.