Economics 9708/22 March 2021 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key insights from the file:

1. Detailed marking scheme emphasizes the application of economic principles to real-world scenarios and clear, reasoned explanations.
2. Importance of understanding equilibrium price and quantity changes due to wage shifts and broader economic income changes.
3. Evaluation of government policies, including subsidies, price controls, and information campaigns, in improving resource allocation.
4. Examination of cross-elasticity to measure relationships between complementary and substitute goods and their market dynamics.
5. Use of supply-side policies for labor and entrepreneurship growth to influence broader economic outcomes.
6. Analysis of fiscal and monetary policies in addressing macroeconomic risks such as deflation, inflation, and foreign economic downturns.