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1. Opportunity cost analysis using real-life examples, such as museum visits versus work income, highlighting decision-making in resource allocation.

2. Shifts in factors of production in industries transitioning to automation, analyzing implications for capital, labor, and enterprise.

3. Demand curve shifts influenced by external factors, including transport costs and income taxes, with applications to market behavior.

4. Elasticities and economic surplus concepts, such as income elasticity's effects on total revenue and definitions of consumer and producer surplus.

5. Macroeconomic interventions like expansionary monetary policy, fiscal deficits, and CPI stabilization strategies, analyzing their implications on inflation and aggregate demand.

6. Trade, balance of payments, and currency dynamics, including terms of trade improvements, exchange rate fluctuations, and the effects of tariffs and protectionism policies.

CIE AS & A Level Economics (9708) Jun 2024

Laura Bellini

Classification: Paper 1

Page count: 12

Viewed: 167

Last update: 3 months ago

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Economics 9708/11 May June 2024 | Cambridge AS Level Past Papers With Mark Scheme

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