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2012 H2 Economics

Semester 2 Revision Package for Lectures


Lecture Schedule
Dates

To prepare detailed essay outline of


at least 2 A4 sides

Week

Mon, 27 Aug

Revise all Sem 2 topics + Prepare Essay Qn 1

10

Wed, 29 Aug

Revise all Sem 2 topics + Prepare Essay Qn 2

Sept
Holiday
Lesson

H2 Essay Lecture Test: Post-Mortem Download


Tues, 4 Sept

Answer Outline on iLMS in Week 10

330 530pm
Prepare Qn 6: 2009 A Level H2 Case Study
Mon, 10 Sept Revise all Sem 2 topics: Timed Concept-Writing

Term 4,
Week 1

Wed, 12
Sept

Revise all Sem 1 topics + Prepare Essay Qn 3

Mon, 17 Sept Revise all Sem 1 topics + Prepare Essay Qn 4


All: To revise all Sem 1 topics
Term 4,
Week 2

Wed, 19

LT 2: Timed Concept-Writing

Sept

LT 4: Timed Concept-Writing + Prepare Essay 5(b)


LT 5: Timed Concept-Writing + Prepare Essay Qn 5

QN 1: 2010 PJC Preliminary Examination


Assess the view that oligopoly is the best market structure to achieve efficiency, equity
and innovation.
[25]

QN 2: 2008 SRJC JC2 Mid-Year Examination


There are many general practitioners (GPs) in Singapore who have set up private clinics
within public housing estates. The quality of health services provided by these GPs
differs. The price they charge also differs as they are able to exercise some degree of
price discrimination.
(a)

Explain the market structure which best describes the GPs in Singapore and why
price discrimination can be successfully carried out in this industry.
[10]

(b)

If the Raffles Medical Group starts to acquire more and more of these private
clinics, discuss whether this is beneficial to the consumers.
[15]

QN 3: 2010 A LEVEL
The price of sugar, an ingredient in many canned soft drinks, dropped dramatically by
32% between July 2006 and October 2008. Healthy living campaigns meant consumers
became more aware of the possible health dangers of consuming too much sugar and
they switched to diet drinks that do not contain sugar.
Discuss how the combination of the fall in the price of sugar and the healthy living
campaigns might affect expenditure by consumers on non-diet and diet canned soft
drinks.
[25]
QN 4: IJC 2010 prelim
Developments in modern technology and increasing availability of books, magazines,
newspapers and other printed publications on the Internet have had major impact on the
demand and supply of print media and associated services.
Assess how the markets involved might be affected by these developments.

[25]

QN 5: 2011 H1 A level
Governments frequently impose indirect taxes in order to influence the pattern of
consumers' expenditure. The effectiveness of such policy measures, however, depends
crucially on how consumers respond.
(a) Explain, with the help of examples, the concepts of price elasticity of demand and
price elasticity of supply.
[10]
(b) Discuss the view that Government efforts to interfere in the working of the free
market through indirect taxation inevitably create more problems than they solve.
[15]

QN 6: 2009 A Level H2 Case Study

(a)

Compare the change in food prices between 2000 and 2007 with the change
in petroleum prices over the same period.
[2]

(b)

With the help of a diagram explain the effect of the introduction of food
price controls as described in Extract 1.
[2]

(c)

Explain why an increase of 70 million mouths to feed each year may cause
food prices to rise, showing how low stocks of food would affect the extent
of this rise in the short run.
[4]

(d)

Extract 3 describes the use of subsidies in the market for bio-fuels.


With the use of diagrams, explain the way in which subsidies affect the
allocation of resources between bio-fuels and food.
[4]

(e)

In a competitive market a firms profits would be competed away, whereas


Shell and other oil companies have been able to make large profits over a
long period of time. Discuss.
[8]

(f)

As a consultant economist, what options would you present to the worlds


governments as possible responses to the threat of food shortages, and
what would you recommend? Justify your answer.
[10]

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