Economics 9708/32 May June 2017 | Cambridge AS Level Past Papers With Mark Scheme

The PDF file can be downloaded for reference. Key questions include:

1. Determination of net social benefit and corrective measures for market failure.
2. Relationships between opportunity cost, production possibility curves, and trade with other economies.
3. Interaction between substitution and income effects in consumer behavior for normal, inferior, and Giffen goods.
4. Distinction between market structures like perfect competition, monopolistic competition, and oligopoly, and their impact on pricing and production.
5. Role of government interventions, such as subsidies, taxation, and fiscal policies, in addressing unemployment, inflation, and income distribution.
6. Assessment of economic development indicators, population urbanization trends, and diversification strategies for sustainable growth in developing countries.