Economics 9708/32 May June 2014 | Cambridge AS Level Past Papers With Mark Scheme

The PDF file can be downloaded for reference. Key questions include:

1. Production possibility curve efficiency types, shifts, and consumer equilibrium analysis using budget lines.
2. Application of diminishing returns, labor productivity, and wage effects in labor markets and firm production.
3. Effects of changes in aggregate demand components, investment, and recession on economic growth rates.
4. Relationship between government policies (taxes, interest rates, and subsidies) and inflation, unemployment, and trade balances.
5. Examination of the implications of devaluation, fair trade schemes, and shifts in GDP classifications on developing economies.
6. Long-term growth challenges, resource sustainability, and diversification strategies for economic development.