Economics 9708/31 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. Analysis of production possibility curves and trade as a means to achieve consumption outside production constraints.
2. Application of marginal utility theory for utility maximization in consumer spending allocation.
3. Discussion on labor markets, economic rent, and supply curves, emphasizing wage differentials and compulsory work hours.
4. Evaluation of government fiscal measures and their implications for national income, debt management, and economic stabilization.
5. Examination of inflationary impacts caused by budget deficits, wage increases, and monetary policy choices during periods of low unemployment.
6. Analysis of supply-side policies versus demand-management policies in tackling unemployment and structural inefficiencies.