AS & A Level Economics (9708) — May–June 2025, Paper 23

5 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.

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Question 1 · 20 marks · The price system and the microeconomy - price determination

Use a demand and supply diagram to demonstrate how 'a series of typhoons' affected the market price of food crops in Southeast Asia in January 2023. [2]

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Question 2 · 20 marks · The price system and the microeconomy - price elasticity of supply

Semi-conductors are widely used in the production of many types of electronic goods such as smartphones. It has been estimated that the price elasticity of supply for…

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Question 3 · 20 marks · Government microeconomic intervention - merit and demerit goods

Explain what is meant by a merit good and why governments provide merit goods such as healthcare free of charge and consider why such provision may not always be successful. [8]

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Question 4 · 20 marks · The macroeconomy - economic growth

Explain two causes of economic growth and consider the extent to which their impact can be measured. [8]

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Question 5 · 20 marks · International economic issues - the terms of trade

The terms of trade index for an economy changed from 105 to 110 in a given year. Explain two likely reasons for this change and consider the extent to which the change is likely…

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