Economics 9708/43 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 saving and production relationships, assessing whether increased savings necessarily boost production.
2. Examination of market failure examples, including private versus social returns and environmental externalities.
3. Relevance of the prisoners’ dilemma in economic behavior, particularly regarding cooperation and externalities.
4. Discussion on improved living standards over 50 years, incorporating GDP growth, resource efficiency, and societal well-being.
5. Contrast between Pareto optimality, equality, free markets, and equity, and their implications for resource allocation.
6. Comparison of perfect competition and oligopoly, focusing on market structure features, firm objectives, and industry dynamics.