Economics 9708/31 May June 2014 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explanation of productive and allocative efficiency using production possibility curves and market mechanisms.
2. Analysis of labor demand shifts and factors influencing employment and wage levels.
3. Impact of subsidies, price controls, and government interventions on monopoly markets and consumer surplus.
4. National income accounting concepts, including leakages, injections, and the multiplier effect on aggregate demand.
5. Evaluation of inflation control measures using monetary and fiscal policy combinations, including effects of exchange rate changes.
6. Role of foreign direct investment in developing economies and its effects on income distribution, local wages, and consumer goods availability.