Economics 9708/42 Oct Nov 2012 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Analysis of the role of migrant labor in countries like the Philippines, focusing on remittances and their impact on household income, education, and investment.
2. Evaluation of the economic benefits and drawbacks for countries employing migrant labor, addressing cost reduction, domestic employment, and mechanization disincentives.
3. Discussion of the challenges and opportunities presented by the outflow of skilled workers, such as brain drain versus remittance-driven economic support.
4. Examination of demand elasticity concepts, including marginal utility and the impact on pricing strategies for services like art exhibitions.
5. Comparison of market structures such as oligopoly and monopolistic competition, focusing on price stability and public interest outcomes.
6. Exploration of wage differentials influenced by social factors, market dynamics, and the relevance of economic theories in addressing disparities.