Economics 9708,11 Oct Nov 2024 | Cambridge AS - A Level Past Papers With Mark Scheme

1. Microeconomic Concepts & Market Structures | Normative vs. Positive Statements, PPC, and Elasticity – Differentiating between economic statements, understanding opportunity costs, and analyzing price elasticity impacts.

2. Market Equilibrium & Consumer Behavior | Demand, Supply, and Surplus Changes – Evaluating factors affecting equilibrium, shifts in demand curves, and the implications of elasticity changes on revenue.

3. Government Intervention & Market Failures | Taxes, Subsidies, and Public Goods – Assessing tax burdens, government regulation effectiveness, and optimal healthcare allocation.

4. Macroeconomic Indicators & Inflation | CPI Trends, Circular Flow, and Income Effects – Identifying causes of price level changes, inflation impacts on living standards, and aggregate demand-supply shifts.

5. Fiscal & Monetary Policy | Interest Rates, Taxation, and Expansionary Measures – Examining government spending, taxation effects on growth, and policies for budget deficits and inflation control.

6. International Trade & Balance of Payments | Tariffs, Exchange Rates, and Trade Policies – Analyzing comparative advantage, the impact of trade barriers, and factors influencing terms of trade improvement.