Economics 9708/04 May June 2003 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Examination of economies of scale in banking, focusing on cost reduction and competitive advantages in mergers.
2. Analysis of oligopolistic characteristics in banking sectors, emphasizing limited firms and potential anti-competitive practices.
3. Exploration of market failure sources and the role of public versus private sectors in managing services like museums.
4. Evaluation of economic wage theories in explaining labor market dynamics, focusing on skills shortages and industry shifts.
5. Discussion of developing versus developed country classifications, using indicators like income levels, life expectancy, and access to services.
6. Explanation of the multiplier effect on investment, output, and prices, with government policies to influence private investment for economic growth.