Economics 9708/11 May June 2016 | Cambridge AS Level Past Papers With Mark Scheme

Download the PDF file for reference and detailed examination of the questions.

- Opportunity cost calculation in decision-making, including car ownership versus public transport.
- Production possibility curve implications for growth prospects and opportunity costs.
- Elasticity analysis of demand and supply, with practical scenarios like income elasticity for inferior goods and perfect elasticity in supply.
- Price effects on complements, consumer and producer surplus, and government intervention through taxes or subsidies.
- Aggregate demand, real GDP, and price level interactions under various economic scenarios, including inflation and exchange rate shifts.
- Trade protectionism justification during recessions, terms of trade impacts, and supply-side policies to address economic challenges.