Economics 9708/23 May June 2019 | Cambridge AS Level Past Papers With Mark Scheme

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1. Analysis of OPEC’s production decisions in 2014 and 2016 and their impact on global oil prices and revenue.
2. Price inelasticity of demand for OPEC’s oil and its implications for market control and revenue generation.
3. Economic impact of declining oil production on Nigeria’s GDP and the relative importance of its non-oil sectors.
4. Evaluation of OPEC’s ability to control global oil prices amidst external market pressures.
5. Consumption patterns of merit and demerit goods, their under- and over-consumption, and policy approaches like subsidies and taxation.
6. Comparative advantage as a basis for free trade and reasons behind the rise in protectionism in modern economies.