Economics 9708/12 March 2019 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Effects of division of labor on efficiency and opportunity costs, and application of comparative advantage in trade.
2. Characteristics of public goods, private goods, and the impact of merit goods on social benefits.
3. Factors influencing price elasticity of demand and supply, consumer surplus, and producer surplus.
4. Justifications for government interventions like subsidies, taxes, and price controls to address market failures.
5. Relationships between exchange rates, terms of trade, and aggregate demand shifts in managing economic stability.
6. Policy tools for managing inflation, balance of payments surpluses, and economic growth while addressing global trade dynamics.