Economics 9708/23 May June 2023 | Cambridge AS Level Past Papers With Mark Scheme

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1. Analyzing the US doughnut market trends, calculating percentage sales changes (2011–2019), contraction causes in 2020, and income elasticity of demand for doughnuts.

2. Examining doughnuts as potential demerit goods, with insights into sugar consumption issues in the UK, and evaluating the effects of online advertising bans on sugary foods using diagrams.

3. Discussing income elasticity of demand coefficients for good classification and evaluating consumer surplus variations in markets with different price elasticities.

4. Assessing government intervention for merit goods, its limitations, and the effectiveness of buffer stock schemes in agricultural markets.

5. Explaining the circular flow of income in open economies, comparing impacts of budget deficits versus trade deficits, and evaluating infrastructure investments’ effects on the circular flow.

6. Exploring monetary policy in inflation control, its success likelihood, and macroeconomic intervention strategies for achieving objectives.