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

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1. Identifying factors of production and their roles in setting up businesses, including land, labor, capital, and enterprise.
2. Evaluating government policies like price controls, taxation, subsidies, and regulations to address market failures and economic challenges.
3. Analyzing changes in supply and demand curves, elasticity, and equilibrium in various market conditions.
4. Exploring international trade, comparative advantage, and terms of trade impacts on global and national economies.
5. Examining circular flow of income, aggregate demand and supply analysis, and policies addressing inflation, unemployment, and fiscal deficits.
6. Understanding productivity growth, income elasticity, and technological advancements to enhance economic efficiency and consumption levels.