Economics 9708/41 May June 2017 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Examination of OPEC as a cartel, including its price-fixing and output-controlling behaviors, with implications for global oil markets.
2. Analysis of the effects of fracking on global oil production, environmental concerns, and the US's economic positioning.
3. Diagrammatic evaluation of the fall in oil prices from 2013–2014 and its alignment with demand-supply dynamics in oil markets.
4. Discussion on whether the US economy benefits from fracking in the short term but faces potential long-term challenges.
5. Exploration of the theories of demand, including marginal utility and indifference curve approaches, and their validity with the presence of inferior goods and advertising.
6. Discussion of macroeconomic aims beyond growth, focusing on employment, price stability, and balance of payments, and their link with investment and resource efficiency.