Economics 9708/21 May June 2010 | Cambridge AS Level Past Papers With Mark Scheme

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

- Definition and application of economic efficiency, including productive efficiency and opportunity costs.
- Marginal utility theory and its impact on consumer demand and market equilibrium.
- Firm behavior in competitive markets, focusing on labor usage and wage adjustments.
- Government regulation to correct market failures, its effects on consumer surplus, and price levels.
- Macroeconomic policy effects on inflation, interest rates, and national income.
- Trade policies, such as import quotas, and their impact on the balance of trade and terms of trade.