Economics 9708/12 Oct Nov 2013 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Examination of factors of production and their roles in entrepreneurship and economic activities.
2. Application of opportunity cost and production possibility analysis in resource allocation and revenue maximization.
3. Analysis of consumer behavior, including demand elasticity and consumer surplus, in market dynamics.
4. Evaluation of market interventions, such as subsidies, maximum prices, and trade policies, on supply-demand equilibrium.
5. Assessment of trade-related metrics, including terms of trade, balance of payments, and exchange rate impacts.
6. Discussion on inflationary factors, including demand-pull and cost-push drivers, and suitable macroeconomic policies to address unemployment and trade deficits.