Economics 9708/03 May June 2002 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Examination of productive efficiency criteria, focusing on minimum-cost output and resource allocation on production possibility curves.
2. Analysis of consumer behavior and utility maximization under budget constraints, using marginal utility principles and diagrams.
3. Exploration of labor market adjustments, wage changes, and the role of unions in improving worker pay under monopsony conditions.
4. Discussion of monopolistic practices, including price discrimination, deadweight loss, and the profit-maximizing output for firms.
5. Evaluation of monetary policies, including interest rate changes and their impacts on inflation, national income, and foreign exchange rates.
6. Assessment of fiscal and monetary tools to address inflation, demand-pull pressures, and long-term growth through structural adjustments.