Economics 9708/31 Oct Nov 2016 | Cambridge AS Level Past Papers With Mark Scheme

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1. Explain the calculation of net external benefit and its application in welfare economics.

2. Discuss the concept of Pareto efficiency and its implications for resource allocation in a two-person economy.

3. Analyze the factors influencing productive efficiency in an economy, such as marginal costs and aggregate demand.

4. Evaluate the role of savings in economic development, focusing on its long-term impact on capital goods and growth.

5. Compare key economic indicators like government net lending, marginal propensity to save, and national income in assessing fiscal and monetary policies' effectiveness.

6. Discuss how interest rate changes influence macroeconomic variables, such as saving, investment, and short-term capital flows.