Economics 9708,22 Oct Nov 2024 | Cambridge AS - A Level Past Papers With Mark Scheme

1. Trade & Balance of Payments | Factors causing Chile’s current account deficit despite a trade surplus, impact of rising imports, and policy measures to reduce consumer goods imports.

2. Income Inequality & Government Spending | Interpretation of Chile’s falling Gini coefficient, role of increased education spending in improving lower-income households′ earnings.

3. Commodity Prices & Economic Growth | Assessment of how rising copper prices since 2020 could influence Chile’s future economic growth and macroeconomic stability.

4. Demand Theory & Elasticity | Differences between movement along vs. shift in the demand curve, impact of price changes in related goods, and the importance of price vs. income elasticity for businesses.

5. Economic Systems & Resource Allocation | Analysis of opportunity costs using PPC diagrams, evaluating the effectiveness of market economies in answering resource allocation questions.

6. Unemployment & Fiscal Policy | Methods for measuring unemployment, effectiveness of supply-side policies in tackling structural vs. cyclical unemployment, and implications of a balanced government budget.