Economics 9708/12 March 2022 | 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 curves and resource utilization, emphasizing opportunity cost and economic efficiency.
2. Examination of normative versus positive economic actions, with emphasis on opinion-based decision-making.
3. Exploration of the functions of money, focusing on overcoming the double coincidence of wants in barter systems.
4. Impact of government policies such as subsidies, maximum prices, and taxation on supply, demand, and market equilibrium.
5. Evaluation of monetary and fiscal policies during economic cycles, including measures for global recessions and exchange rate effects.
6. Comparative advantage and productivity analysis in international trade scenarios, including implications for specialization and resource allocation.