Economics 9708/21 Oct Nov 2015 | Cambridge AS Level Past Papers With Mark Scheme

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1. Calculating percentage changes in cereal prices and examining reasons for divergent price trends between cereals and dairy products.
2. Using demand and supply diagrams to illustrate the effects of subsidies on rice prices and production in India.
3. Evaluating the opportunity costs associated with India's food subsidy policy and its impact on public finances.
4. Discussing whether food subsidies can effectively address global food shortages in the long run.
5. Analyzing income elasticity of demand to understand the effects of falling incomes on inferior and necessary goods.
6. Exploring trade benefits for efficient economies and protectionist justifications by less efficient economies in a two-country, two-product framework.