Economics 9708,12 Oct Nov 2024 | Cambridge AS - A Level Past Papers With Mark Scheme

1. Production & Opportunity Cost | Interpretation of the production possibility curve, impact of specialization on productivity, and factors of production in business expansion.

2. Market Structures & Price Elasticity | Determining price elasticity of supply, shifts in demand and supply curves, effects of taxation, and equilibrium price determination.

3. Income & Wealth Distribution | Causes of wealth inequality, effects of taxation policies, and changes in consumer price indices affecting real income.

4. Macroeconomic Policies & Inflation | Measuring GDP at basic prices, impact of inflation on savers and fixed incomes, and evaluating supply-side policies.

5. Exchange Rates & Balance of Payments | Effects of exchange rate depreciation, policies to address current account deficits, and calculations of trade balances.

6. Trade Policies & Protectionism | Impact of tariffs, quotas, and subsidies on trade, effects of currency appreciation, and identifying protectionist policies in global markets.