Economics 9708/01 Oct Nov 2004 | Cambridge AS Level Past Papers With Mark Scheme

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1. Role of consumer spending patterns in determining resource allocation in market economies.
2. Effects of technological progress on opportunity costs and production possibilities for capital and consumer goods.
3. Price elasticity and cross-elasticity influences on demand for substitute goods like rice and potatoes.
4. Calculation of inflation trends and cost of living changes using consumer price indices and weights.
5. Impacts of exchange rate depreciations on trade balances, currency value, and price competitiveness of exports.
6. Short-term and long-term policy measures for addressing balance of payments deficits, including taxation and foreign capital incentives.