Economics 9708/13 May June 2015 | Cambridge AS Level Past Papers With Mark Scheme

Download the full PDF file for detailed insights.

1. Economic problem fundamentals, highlighting finite resources, opportunity costs, and shifts in production possibility curves.

2. Price elasticity analysis for demand and supply, including elasticity effects on crops like rice and market dynamics for goods like sugar and music.

3. Impacts of market interventions such as subsidies, tariff removals, and fixed-capacity event pricing on consumer and producer surplus.

4. Comparative advantage in trade, evaluating terms of trade and the benefits of specialization for countries like China.

5. Currency fluctuations and their implications for balance of payments, export volumes, and trade surpluses.

6. Government roles in addressing market failures through cost-benefit analyses, infrastructure investments, and resource allocation adjustments.