Economics 9708/43 May June 2024 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explanation of the Gini coefficient, income inequality, and its relevance in assessing poverty alongside distinctions between absolute and relative poverty in economic analysis.

2. Assessment of supply-side and fiscal policies for addressing income inequality, including practical examples and their implications on economic equity.

3. Analysis of market efficiency in perfect competition, exploring allocative and productive efficiency, and challenges due to market failure or government intervention.

4. Use of indifference curve diagrams to evaluate the effects of price changes on demand for normal goods versus Giffen goods, incorporating income and substitution effects.

5. Debate on government spending as a driver of economic growth, including potential benefits like increased demand and risks such as inflation or resource misallocation.

6. Evaluation of national income statistics in measuring living standards across high- and low-income countries, considering factors like informal economies, income distribution, and alternative metrics.