Economics 9708/21 May June 2017 | Cambridge AS Level Past Papers With Mark Scheme

You can download the full PDF file for reference. Key questions extracted:

1. Analysis of the causes of the fall in oil prices using demand-supply diagrams and the resulting depreciation of the Colombian peso.
2. Examination of the impact of a “peace dividend” on Colombia’s economic growth using production possibility curve analysis.
3. Assessment of how aggregate demand components in Colombia were affected by the drop in oil prices.
4. Evaluation of factors determining whether the peso's depreciation will reduce Colombia’s current account deficit.
5. Comparison of merit goods and public goods, highlighting profit opportunities and limitations in their provision.
6. Discussion of the effectiveness of supply-side policies in addressing inflation compared to demand-side measures.