Economics 9708/41 May June 2013 | Cambridge AS Level Past Papers With Mark Scheme

Download the attached file to view the complete content. Key questions extracted:

1. Links between macroeconomic changes and microeconomic business decisions during a recession.
2. Profit implications for monopolies when facing a demand fall, analyzed through cost-revenue diagrams.
3. Comparison of profit resilience in industries with different income elasticities of demand (food vs. leisure).
4. Discussion on whether fixed or variable cost structures make firms more vulnerable during economic downturns.
5. Debate on the role of government regulation in achieving efficient resource use and firm growth.
6. Evaluation of GDP’s reliability as an indicator of standard of living changes.