Economics 9708/31 May June 2024 | Cambridge AS Level Past Papers With Mark Scheme

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1. Utility theory questions covering concepts such as diminishing marginal utility, equi-marginal principle, and the relationship between total and marginal utility.

2. Analysis of economic diagrams such as indifference curves and budget constraints to determine consumer satisfaction or demand behavior.

3. Key externality and social benefit scenarios, including positive externalities from vaccinations and policies to reduce environmental damage like taxation and advertising campaigns.

4. Firm behavior under different market structures, such as profit maximization in oligopolies, natural monopolies, and impacts of horizontal integration or share issuance.

5. Government policy implications on unemployment, poverty traps, and demand for labor, including monopsony employer dynamics and trade union interventions.

6. Macroeconomic challenges like inflation-unemployment trade-offs (Phillips Curve), Keynesian multiplier assumptions, and threats to globalization like political tensions and trade union impacts.