Economics 9708/31 Oct Nov 2012 | Cambridge AS Level Past Papers With Mark Scheme

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1. Implications of allocative and productive efficiency on income distribution and production possibilities.
2. Analysis of income and substitution effects for normal and inferior goods with examples.
3. Relationship between marginal utility, price changes, and consumer behavior in decision-making.
4. Impact of price elasticity on revenue outcomes and firm strategies under market dynamics.
5. Consequences of reflationary fiscal policies versus deflationary monetary policies on economic growth.
6. Exploration of trade policies, such as 'trade not aid,' and their effectiveness in supporting developing economies.