Economics 9708/43 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. Comparison of oil price increases in the 1970s versus 2011 and their differing inflationary or deflationary impacts.
2. Analysis of UK inflation rates during the 1970s and the macroeconomic policies, such as budget deficits, that contributed to observed trends.
3. Discussion of the contextual factors in 2011, such as lower oil dependency and post-recession recovery, influencing inflation risks.
4. Examination of marginal utility theory to explain consumer reallocation of spending in response to price changes.
5. Debate on imperfect competition and advertising's role in shaping market outcomes versus consumer-driven utility maximization.
6. Analysis of government regulation's effects on business growth, comparing the benefits of small versus large firms.