Economics 9708/42 May June 2021 | Cambridge AS Level Past Papers With Mark Scheme

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1. Aircraft manufacturing industry: market structure with duopoly characteristics, high fixed costs, and competitive strategies in fuel efficiency and long-range capabilities.
2. China's potential entry into aircraft manufacturing and its implications for competition and market dynamics.
3. Fixed costs in aircraft production, with examples of R&D expenses; relationship between output levels and average fixed costs using economic theory.
4. Efficiency in resource use, its definition, and the limitations of market failure corrections in achieving economic efficiency.
5. Wage differentials analyzed through economic theories, considering roles within the same company and between similar jobs in different firms.
6. Human Development Index (HDI) and Measure of Economic Welfare (MEW) versus Gross National Income (GNI) as measures of living standards.