Economics 9708/12 May June 2022 | Cambridge AS Level Past Papers With Mark Scheme

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1. Identify characteristics of planned economies and differentiate them from market-driven systems.

2. Explain the roles of demand and supply in allocating resources and setting market prices.

3. Analyze factors influencing price elasticity of supply, such as availability of raw materials and labor skill requirements.

4. Evaluate government policies like subsidies for electric cars and their effects on electricity markets and environmental outcomes.

5. Discuss fiscal and monetary policies, including budget deficits, tariffs, and exchange rate management, in addressing current account deficits and inflation.

6. Explore protectionist measures, such as voluntary export restraints and tariffs, and their impacts on international trade and domestic industries.