Economics 9708/02 Oct Nov 2004 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Analysis of the comparative advantage differences between China and Japan, emphasizing technology-intensive versus labor-intensive production.
2. Examination of inflation's impact on economic stability, comparing deflation in Japan to moderate inflation in China.
3. Discussion on the importance of international trade, focusing on export-to-GDP ratios and trade balances of both countries.
4. Evaluation of China's economic growth as a threat or opportunity for Japan, considering factors like technology transfer and competition.
5. Explanation of public goods versus private goods, including characteristics like non-excludability and rivalry.
6. Discussion on supply elasticity differences between agricultural and manufactured goods, with emphasis on production flexibility and external constraints.