Economics 9708/32 Oct Nov 2009 | Cambridge AS Level Past Papers With Mark Scheme

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1. Economic problem: scarcity, opportunity costs, and shifts in production possibility curves.

2. Price elasticity effects on demand and supply, and their impact on agricultural and consumer goods markets.

3. Government interventions, including subsidies, tariffs, and price controls, and their effect on market equilibrium.

4. International trade, comparative advantage, and the benefits of free trade agreements like Canada-EU.

5. Currency fluctuations and exchange rates, and their impact on trade balance and exports.

6. Government responses to market failures through fiscal policies, cost-benefit analysis, and provision of public goods.