Economics 9708/12 May June 2012 | Cambridge AS Level Past Papers With Mark Scheme

You can download the full PDF file for reference. Key questions extracted:

1. Analysis of planned versus market economies, including resource allocation mechanisms.
2. Explanation of production possibility curve shifts and the factors influencing economic growth or contraction.
3. Discussion of price elasticity of demand, cross elasticity, and their implications for market dynamics.
4. Examination of tariffs and quotas on trade, focusing on revenue, price, and quantity effects.
5. Evaluation of inflation trends using Consumer Price Index data and their economic implications.
6. Assessment of exchange rate policies and their impact on the balance of payments and purchasing power parity.