Economics 9708/21 Oct Nov 2014 | Cambridge AS Level Past Papers With Mark Scheme

Download the attached file to view the complete content. Key questions extracted:

1. Trends in coffee prices from 2007–2012 and the year when supply likely exceeded demand.
2. Contributions of coffee exports and tourism to Nepal’s current account in the balance of payments.
3. Classification of coffee using the concept of income elasticity of demand.
4. Effects of demand and supply changes on the coffee markets in Colombia and Nepal, explained with diagrams.
5. Evaluation of whether Nepal and Colombia should specialize in coffee and alternative products based on cost changes.
6. Comparison of minimum price legislation and indirect taxes for addressing negative externalities and improving resource allocation.