Economics 9708/42 May June 2012 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Importance of SMEs in Malaysia's economy, supported by employment contributions, export values, and government policies.
2. Analysis of market-oriented economy features in Malaysia versus government interventions, such as subsidies and foreign investment incentives.
3. Theoretical linkage between utility, price, and consumer demand for standard, low-quality, and luxury goods.
4. Comparative analysis of profit determination in perfect competition and monopoly market structures.
5. Wage rate disparities in essential versus non-essential occupations analyzed through labor market theory.
6. The role of GDP in measuring economic activity versus its limitations as an economic indicator.