Economics 9708/12 May June 2021 | Cambridge AS Level Past Papers With Mark Scheme

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

1. Differentiation of economic and free goods through consumption and use cases.
2. Analysis of elasticity concepts including price elasticity of demand and supply, and cross-price elasticity.
3. Implications of government interventions like minimum prices, subsidies, and taxation on market equilibrium.
4. Effects of monetary and fiscal policies on inflation, GDP growth, and balance of payments adjustments.
5. Comparative and absolute advantage in trade theory and their applications to international trade.
6. Evaluation of inflationary and deflationary measures in response to fiscal and monetary policy combinations.