Economics 9708/31 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. Examination of Pareto efficiency and conditions for optimal resource allocation.
2. Exploration of market externalities, including negative externalities from production and government interventions.
3. Analysis of market structures such as perfect competition and monopolistic competition in real-world scenarios.
4. Discussion of income elasticity and price elasticity of demand in luxury markets, with implications for profit strategies.
5. Evaluation of policies for reducing income inequality, including the impact of direct taxes, indirect taxes, and welfare benefits.
6. Comparative analysis of Keynesian and classical economic theories on wages, investment, and national income determinants.