Economics 9708/13 Oct Nov 2011 | Cambridge AS Level Past Papers With Mark Scheme

The PDF file can be downloaded for reference. Key questions include:

1. Opportunity costs for unemployed individuals transitioning to employment, highlighting trade-offs like leisure versus income.
2. Effects of demand and supply shifts on price elasticity, consumer surplus, and market equilibrium adjustments.
3. Application of elasticity concepts (price, income, cross-price) in analyzing complementary, substitute, and luxury goods.
4. Market mechanisms addressing external costs, merit goods, and government interventions like subsidies and tariffs.
5. Role of comparative and absolute advantage in international trade and import substitution policies for developing economies.
6. Macroeconomic impacts of inflation, exchange rate changes, and balance of payments adjustments on national competitiveness and trade outcomes.