Economics 9708/11 Oct Nov 2022 | Cambridge AS Level Past Papers With Mark Scheme

Download the PDF file for reference and detailed examination of the questions.

- Transition to Market Economy: Key changes such as privatization and property rights transformation.
- Elasticity Concepts: Price elasticity of supply, cross-elasticity with substitutes and complements, and determinants of supply shifts.
- Market Dynamics: Effects of government policies, such as subsidies, minimum wages, and tariffs, on equilibrium, surplus, and income distribution.
- Inflation and Interest Rates: Correlation between oil price changes, inflation types, and monetary interventions.
- Trade and Balance of Payments: Analysis of Marshall–Lerner condition, terms of trade indices, and exchange rate determinants.
- Macroeconomic Policies: Role of fiscal, monetary, and supply-side policies in addressing inflation, unemployment, and deficits.