Economics 9708/12 Oct Nov 2020

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

1. Implications of production possibility curve shapes for opportunity costs and resource allocation.
2. Characteristics and functions of money in economic transactions.
3. Effects of price elasticity on consumer behavior, producer decisions, and market dynamics.
4. Impact of government policies like taxation, subsidies, and privatisation on market efficiency and equilibrium.
5. Relationships between exchange rates, balance of payments adjustments, and macroeconomic policies.
6. Roles of fiscal and monetary policies in addressing inflation, deflation, and aggregate demand changes.