Economics 9708/12 May June 2013 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Analysis of opportunity costs and resource allocation in the context of production possibility curves and technological advancements.
2. Effects of shifts in demand and supply curves on equilibrium, influenced by price, taxes, and subsidies.
3. Elasticity concepts, including cross-price and income elasticity, in determining market behavior for complementary and inferior goods.
4. Comparative advantages in trade, including the impact of transport costs and tariffs on trade benefits.
5. Evaluation of fiscal policies such as tariffs, tax adjustments, and government intervention in managing inflation, unemployment, and exchange rates.
6. The role of terms of trade and exchange rate fluctuations in influencing a country’s trade balance and economic stability.