Economics 9708,33 Oct Nov 2024 | Cambridge AS - A Level Past Papers With Mark Scheme

1. Consumer Choice and Utility Maximization | Equilibrium condition using marginal utility and prices, indifference curve properties, and allocative efficiency criteria.

2. Market Structures and Competition | Revenue and cost analysis for supernormal profit determination, characteristics of contestable markets, and equilibrium conditions in monopolistic competition.

3. Labour Markets and Wage Determination | Wage changes due to union negotiations, productivity shifts, transfer earnings, economic rent, and impact of poverty traps.

4. Monetary and Fiscal Policy Effects | Interest rate reductions in recessions, aggregate demand shifts, monetary transmission lags, and inflation-unemployment trade-offs.

5. Economic Growth and National Income | Changes in consumption patterns, effects of negative growth, real income per capita calculations, and productivity-driven shifts.

6. Globalization and Trade Policy | Foreign direct investment effects, trade balance adjustments, expenditure-reducing policies, Gini coefficient interpretation, and sectoral employment distributions in different economies.