1. Paper format & MC technique
75 min · 30 Q · answer sheet
Diagrams & four-option logic
2. Consumer theory
Budget line & equi-marginal rule
Inferior goods: IE vs SE
3. Costs in the short run
AFC, AVC, MC & output
LRAC & merger economies
4. Objectives & monopoly
Profit max vs revenue max
Natural monopoly & efficiency
5. Market failure & structure
MSB / MPC & corrective output
Cartels, barriers & contestability
6. Labour markets
MRP = MPP × MR
Economic rent & mobility
CIE Economics 9708
P3 A Level Multiple Choice
7. Government & tax design
Government failure & Pigouvian tax
Indirect tax revenue & elasticities
8. Distribution & equity
Progressive tax & Gini
MPI, poverty & optimum population
9. Growth & macro links
PPC: actual vs potential growth
Accelerator & non-inflationary growth
10. Money & Keynesian AD
Quantity theory (MV = PT) & velocity V
Inflationary gap & bond finance
11. Open economy
BoP: current vs financial account
ER policy & value of money
12. Firms, IO & development
Principal–agent & firm behaviour
WB / IMF & aid critique