Economics 9708/21 Oct Nov 2009 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explaining economic growth, identifying factors that have caused decreasing growth in India, such as fuel shortages, poor infrastructure, and regulatory issues.

2. Analyzing how cutting tax rates is considered a supply-side policy, and explaining the potential long-term effects of such policies on economic growth.

3. Using marginal tax rate reductions to explain changes in labor supply and government revenue, and analyzing the response of marginal tax rate changes greater than one.

4. Discussing the role of government policies in supporting economic growth through infrastructure, tax incentives, and investment, especially in developing economies like Brazil and Mexico.

5. Evaluating the justification for price discrimination and assessing the market structures where it might be beneficial or detrimental to consumers and firms.

6. Analyzing the impact of government interventions, like subsidies and tax cuts, on market efficiency, inflation, and long-term economic stability.