Economics 9708,13 Oct Nov 2024 | Cambridge AS - A Level Past Papers With Mark Scheme

1. Production Possibility Curve and Opportunity Cost | Interpretation of a PPC diagram, opportunity cost in production, and classification of economic goods.

2. Market Mechanisms and Elasticity | Effects of price changes on substitutes, price elasticity of supply calculations, and classification of goods using cross and income elasticities.

3. Government Intervention in Markets | Policies for merit and demerit goods, solutions to the free rider problem, and effects of subsidies on factor inputs.

4. Macroeconomic Indicators and Fiscal Policy | National income equilibrium conditions, causes of frictional unemployment, fiscal policies affecting income distribution, and budget surplus implications.

5. International Trade and Exchange Rates | Causes of current account deficits, forms of trade protectionism, effects of currency appreciation, and terms of trade improvements.

6. Supply-Side and Monetary Policies | Impact of supply-side policies on inflation, interest rate effects on borrowing and spending, and government actions to influence aggregate demand.