Economics 9708/12 Oct Nov 2022 | Cambridge AS Level Past Papers With Mark Scheme

You can download the PDF file for complete details and context.

1. Functions of money, planned economy resource allocation, and rival versus non-rival goods classification.

2. Production possibility curve (PPC) analysis for opportunity costs, efficiency, and impacts of shifts in resource allocation.

3. Price elasticity effects on supply and demand, including market surpluses, revenue changes, and implications of taxes and subsidies.

4. Joint demand, consumer surplus, and high elasticity influences on supply responses and shifts in demand curve positions.

5. International trade concepts, including comparative and absolute advantage, tariffs, currency depreciation, and trade creation dynamics.

6. Policies impacting aggregate supply and demand, fiscal tools for economic balance, and policies for expenditure switching to improve trade balances.