Economics 2281/13 Oct Nov 2024 | Cambridge O-Level Past Papers With Mark Scheme

1. Fundamental Economic Concepts | Scarcity, opportunity cost, factors of production, supply and demand analysis.

2. Market Mechanisms & Elasticity | Price elasticity of demand, equilibrium price, revenue changes due to supply shifts.

3. Macroeconomic Policies & Indicators | GDP, inflation, monetary policy, progressive taxation, economic growth effects.

4. Labour Market & Wages | Minimum wage policies, trade unions′ role, wage determination, employment incentives.

5. International Economics & Trade | Specialization, exchange rates, trade barriers, balance of payments, foreign investment effects.

6. Market Structures & Government Intervention | Competition, market failure, external benefits, government policies to regulate the economy.