Economics 9708/22 May June 2023 | Cambridge AS Level Past Papers With Mark Scheme

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- Nigeria's Economic Dependency: Analysis of oil reliance, unemployment impact via PPC, inflation from fuel subsidy removal, and the role of supply-side policies in diversification.
- Tax Reforms: Evaluation of direct vs. indirect taxation for increasing Nigerian government revenues, including addressing tax evasion and informal economies.
- Consumer and Producer Surplus: Examination of price increases on consumer surplus and effectiveness of price controls vs. transfer payments for essentials.
- Market Equilibrium: Impacts of rising wages on equilibrium and long-term growth via entrepreneurship versus increasing other production factors.
- Trade Theories: Comparative and absolute advantage principles in trade decisions and the influence of comparative advantage.
- Inflation and Policies: Demand-pull vs. cost-push inflation under currency depreciation and evaluating monetary policy's role in inflation control.