Economics 9708/43 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 macroeconomic decisions, including government spending cuts and tax increases, on microeconomic behavior of firms and industries during a recession.
2. Examination of the relationship between income elasticity of demand and industry performance during economic downturns, focusing on food versus leisure sectors.
3. Impacts of cost structures (fixed vs. variable costs) on firm resilience and profitability during recessions.
4. Government regulation's role in firm growth and resource efficiency, questioning whether minimal interference is optimal.
5. Limitations of GDP as a standard of living indicator and its effectiveness compared to alternative measures.
6. Differences in policies for industrial development between developing and developed economies and their socio-economic justifications.