Economics 9708/21 Oct Nov 2019 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Analysis of demonetization's impact on India's M1 money supply, focusing on immediate and short-term changes.
2. Examination of cheques as a medium of exchange and whether they fulfill the functions of money.
3. Implications of withdrawing high-value currency notes on cash's role as a store of value in the economy.
4. Evaluation of demonetization's effects on India's fiscal policy, including tax revenue and government spending.
5. Discussion on whether demonetization is likely to cause inflation, incorporating demand-side and supply-side factors.
6. Examination of minimum price removal impacts in free markets, and income elasticity of demand applications in retail.