Economics 9708/02 Oct Nov 2001 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Analysis of the UK's balance of payments, focusing on differences between trade in goods and services and the role of non-trade current account items.
2. Examination of the impact of currency appreciation on trade positions, supported by data trends from 1992–1998.
3. Discussion of tariff implementation on imports to improve trade balance, analyzing economic and policy implications.
4. Explanation of the market system's role in resource allocation and government interventions to correct price system failures.
5. Evaluation of money functions, emphasizing their significance in supporting efficient modern economies.
6. Application of elasticity concepts (price and income) in business strategy, assessing their utility in pricing, revenue, and market planning decisions.