Economics 9708/32 Oct Nov 2017 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Analysis of efficiency in resource allocation and its implications for economic outcomes, using Pareto optimality.
2. Examination of external costs in imperfect competition and their effect on social versus private costs.
3. Discussion on natural monopolies and conditions leading to their existence, including economies of scale and high fixed costs.
4. Evaluation of tax systems, focusing on progressive, proportional, and marginal tax impacts on income distribution and government revenues.
5. Exploration of macroeconomic concepts like the accelerator principle, structural unemployment, and leakages in the circular flow of income.
6. Impact of fiscal and monetary policies on aggregate demand, budget deficits, and economic stability during recessions or deflationary periods.