Economics 9708/11 Oct Nov 2013 | Cambridge AS Level Past Papers With Mark Scheme

You can download the full PDF file for reference. Key questions extracted:

1. Analysis of production possibility curve shifts and factors driving economic growth, such as investment.
2. Examination of elasticity concepts, including income elasticity, cross elasticity, and their impacts on demand and supply decisions.
3. Evaluation of consumer surplus changes due to price variations and implications for market pricing strategies.
4. Discussion of the role of comparative advantage in trade and the effects of trade arrangements like free trade areas versus economic unions.
5. Assessment of macroeconomic policies, such as expenditure-switching versus expenditure-reducing measures, in managing current account deficits.
6. Exploration of exchange rate devaluation impacts, focusing on inflationary pressures and trade balance improvements under the Marshall-Lerner condition.