Economics 9708/11 Oct Nov 2014 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Allocation of resources in market economies through pricing mechanisms and consumer choices.
2. Movement along production possibility curves and its link to employment, participation rates, and economic efficiency.
3. Impact of government policies like tariffs, price controls, and subsidies on market equilibrium and resource allocation.
4. Effects of elasticity, income changes, and consumer behavior on demand, supply, and equilibrium adjustments.
5. Comparative and absolute advantages in trade decisions and the opportunity costs associated with resource reallocation.
6. Balance of payments implications of currency depreciation, fixed exchange rates, and inflationary pressures on trade balances.