Economics 9708/42 Oct Nov 2022 | Cambridge AS Level Past Papers With Mark Scheme

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- Guyana’s Economic Growth: Impact of oil discovery on productive capacity, unemployment from sugar plantation closures, and exchange rate overvaluation effects.
- Market Externalities: Explanation of positive and negative externalities and their role in market failure with examples.
- Production Costs: Law of diminishing returns and its influence on marginal and average variable cost curves.
- Price Discrimination: Exploration of how market structure affects a firm’s ability to implement price discrimination.
- Wage Determination: Relevance of marginal revenue product theory in explaining wage levels.
- Interest Rates and Monetary Policy: Keynesian perspective on low interest rates and monetary policy’s role in addressing cyclical unemployment.
- Currency Value Impacts: Internal and external currency value relationships and government macroeconomic objectives.
- Multinational Corporations: Their influence on living standards in home and host countries.