Economics 9708/33 Oct Nov 2022 | Cambridge AS Level Past Papers With Mark Scheme

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1. Define Pareto efficiency and identify its achievement conditions in allocative and productive contexts.

2. Evaluate the external costs and benefits of constructing an underground railway to reduce urban traffic congestion.

3. Explain overproduction in markets with negative externalities, using chemical production as an example with marginal cost and benefit diagrams.

4. Assess the impact of price controls, such as maximum wages and subsidies, on market dynamics and economic outcomes.

5. Examine the effectiveness of monetary and fiscal policies, including income tax adjustments and Laffer curve implications, on unemployment and economic growth.

6. Analyze indicators of development like GDP per capita, education levels, and rural population distribution to identify patterns of economic advancement.