Economics 9708/02 May June 2002 | Cambridge AS Level Past Papers With Mark Scheme

You can download the full PDF file for reference. Key questions extracted:

1. Analysis of trends in nominal versus real oil prices from 1970 to 1999, including their economic implications.
2. Examination of factors contributing to sharp oil price increases, such as production cuts and demand growth.
3. Discussion of problems caused by price variability for oil producers, including investment challenges.
4. Evaluation of the effects of indirect taxes on oil in consuming countries, focusing on inflation and consumer behavior.
5. Exploration of private and external costs and the role of cost-benefit analysis in government policies.
6. Assessment of trade protection methods and the justifications for implementing protectionist measures.