Economics 9708/31 May June 2011 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Examination of production possibility curves to explain economic efficiency, opportunity costs, and attainable resource allocations.
2. Analysis of the equi-marginal utility principle in consumer choices and its relationship with budget constraints and utility maximization.
3. Evaluation of market structures, focusing on labor markets, wage rates under minimum wage policies, and contestable markets.
4. Discussion of macroeconomic indicators, such as the investment multiplier, aggregate demand changes, and fiscal deficits' implications.
5. Analysis of monetary and fiscal policies, including their impacts on inflation, unemployment, and balance of payments adjustments.
6. Exploration of international trade policies, benefits of tariffs, and challenges of maintaining fixed exchange rate parities in open economies.