Economics 9708/11 May June 2012 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Definition of a transition economy and factors influencing shifts in production possibility curves.
2. Opportunity costs and economic trade-offs in capital investment and consumption decisions.
3. Effects of price elasticity, cross elasticity, and unitary elasticity on demand and market behavior.
4. Government interventions like taxes, subsidies, and price controls, and their impacts on markets and consumer surplus.
5. Comparative and absolute advantages in international trade, addressing tariffs and production shifts.
6. Relationships between inflation targets, trade balances, and fiscal policies in managing economic stability and competitiveness.