Economics 9708/12 Oct Nov 2021 | Cambridge AS Level Past Papers With Mark Scheme

The user can download the PDF file for detailed review. Key questions summarized:

1. Analysis of production possibility curve shifts, considering technological advancements and resource allocation changes.
2. Examination of price elasticity and supply responses to taxes, subsidies, and government interventions.
3. Investigation of market demand shifts due to price changes, consumer preferences, and income variations in normal and inferior goods.
4. Evaluation of trade policies, tariffs, and their effects on consumer surplus, producer surplus, and import levels.
5. Discussion of inflation causes and impacts, including cost-push and demand-pull factors, and policies to address them.
6. Comparative advantage in production, focusing on opportunity costs and global trade efficiency.