Economics 9708/42 Oct Nov 2010 | Cambridge AS Level Past Papers With Mark Scheme

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

2. Price elasticity of demand and supply analysis, with specific focus on crops and consumer goods.

3. Market dynamics affected by subsidies, tariffs, and fixed capacity in goods and services markets.

4. Role of comparative advantage in trade, with a focus on terms of trade and specialization benefits.

5. Exchange rate impacts on international trade, balance of payments, and export volumes.

6. Government intervention in market failures through cost-benefit analysis, subsidies, and fiscal policies.