AS & A Level Economics (9708) — May–June 2025, Paper 24

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 · 4. The macroeconomy

Using the data in Fig. 1.1, describe the trend shown in the annual rate of economic growth in Malaysia over the period January 2019 to January 2022.

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Question 2 · 20 marks · 2. The price system and the microeconomy

With the help of a formula, explain the meaning of price elasticity of demand and consider the significance to a firm of having price elastic or price inelastic demand for its…

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Question 3 · 20 marks · 3. Government microeconomic intervention

With the help of a diagram, explain the impact of introducing an effective minimum price for a product and consider the effect on the consumer surplus for that product.

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Question 4 · 20 marks · 5. Government macroeconomic intervention

Explain why expenditure on education and training is a supply-side policy and consider why its impact on the general price level may differ between the short run and the long run.

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Question 5 · 20 marks · 6. International economic issues

With the help of a formula, explain the causes of an improvement in the terms of trade in an economy and consider whether such an improvement can ever be harmful to an economy.

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