Economics 9708/03 May June 2005 | Cambridge AS Level Past Papers With Mark Scheme

Download the PDF file for reference and detailed examination of the questions.

- Economic efficiency, focusing on productive efficiency and its implications for markets.
- Consumer decision-making, marginal utility, and how they affect demand and market equilibrium.
- Firm decisions related to labor, wages, and output in competitive market settings.
- Government interventions to correct market failures, including their impact on prices and consumer welfare.
- The effect of macroeconomic policies on inflation, employment, and national income.
- The role of trade policies, such as import quotas, in influencing the balance of trade and terms of trade.