Economics 9708/21 Oct Nov 2018 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Calculation of inflation percentage using the US Consumer Price Index and its interpretation.
2. Explanation of the weighting system in CPI calculations and its importance for accurate inflation measurement.
3. Analysis of inflation’s implications for borrowers and savers, including real value adjustments.
4. Examination of supply-side factors causing price reductions in specific products compared to general CPI trends.
5. Discussion of the limitations of monetary policy effectiveness when inflation measurements are inaccurate.
6. Evaluation of tariffs versus quotas as protectionist tools and the preference for free trade over protectionism.