Economics 9708/04 Oct Nov 2002 | Cambridge AS Level Past Papers With Mark Scheme

You can download the PDF file for complete details.

1. Analysis of price adjustments in free competitive markets during shortages and surpluses, with diagrams and examples.
2. Factors influencing minimum price decisions by producer groups, including demand, cost structures, and market power.
3. Definitions of productive and allocative efficiency and their implications for profit-maximizing firms in imperfect markets.
4. Conditions for equilibrium in the circular flow of an open economy with government interventions and injections.
5. Assessment of government macroeconomic objectives like inflation control, employment, and their alignment with public welfare.
6. Discussion on the benefits and challenges of transitioning from developing to developed economies for citizens' well-being.