Economics 9708/12 March 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Differentiating between types of goods, including excludable, rival, public, and merit goods, and their market suitability.
2. Understanding production possibility curves, opportunity cost, and their implications for resource allocation.
3. Analyzing elasticity of supply and demand, including unitary elasticity and joint supply effects.
4. Exploring the circular flow of income, exchange rates, inflation, and their interactions within open economies.
5. Evaluating fiscal and monetary policies in addressing inflation, unemployment, and macroeconomic objectives.
6. Assessing exchange rate mechanisms, floating exchange rate benefits, and their role in international trade competitiveness.