Economics 9708/11 May June 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Fundamentals of opportunity cost, production possibility curves, and the implications of division of labor.

2. Analysis of cross elasticity of demand, consumer surplus, and price elasticity of supply with numerical applications.

3. Effects of specific taxes, price controls, and shifts in demand and supply curves in markets for goods such as diesel and lemonade.

4. Macroeconomic concepts, including aggregate demand and supply impacts, inflation effects on fixed wage earners, and trade balances under exchange rate changes.

5. Comparative and absolute advantage in international trade, specialization outcomes, and terms of trade influenced by currency depreciation.

6. Supply-side policy measures, national debt, and macroeconomic tools to manage balance of payments and international trade promotion.