Economics 9708/01 Oct Nov 2003 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Analysis of opportunity cost using production possibility curve shifts and resource allocation scenarios.
2. Examination of elasticity concepts, including price elasticity of demand for exports and imports, and their implications for trade balances.
3. Discussion of inflation patterns across regions and their effects on fixed versus flexible exchange rate systems.
4. Evaluation of trade protection measures, including tariffs and quotas, and their impact on consumer surplus and trade volumes.
5. Exploration of currency depreciation and appreciation effects on export competitiveness and import costs.
6. Assessment of the multiplier and price index calculations for measuring economic growth and cost of living changes.