Economics 9708/32 March 2021 | Cambridge AS Level Past Papers With Mark Scheme

Download the attached file to view the complete content. Key questions extracted:

1. Efficiency types represented by lower average total costs over time.
2. Causes and outcomes of market failure in different economic scenarios.
3. Policies for achieving allocative efficiency in nationalized industries.
4. Impact of consumption patterns and government interventions, such as minimum pricing and taxation, on public welfare.
5. Influence of fiscal, monetary, and supply-side policies on reducing unemployment and national income changes.
6. Role of circular flow components and Keynesian assumptions in economic stability and growth.