Suggested Answers of BT2 Revision Package - ASKnLearn

More documents

Recommendations

Info

(c) To what extent would China’s reduction in the export of rare earths pose a ‘challenge tothe West’s march toward a greener future’?[8m]China’s reduction in export of rare earths àdecrease in global supply of rare earth metals àincrease in prices of rare earthsà impede the development of green technology that othercountries are currently into.Thesis: ChallengeCOP for energy-saving devices eg solar panel, wind turbine riseCOP for hybrid cars riseè Translate into higher Ps è Less incentive for people to purchase these greendevicesð Pollution from use of fossil fuel resulting in negative externalities would not bereduced to optimal level.o Use of more pollutive methods of production, power generation as well as(normal) cars would not be reduced to socially desired level.External costs still remain => Still consume above the socially optimal level of output.(Apply MSC=MSB framework)• Eg: With the export cuts in rare earths causing a rise in price of hybrid cars, MPB (DD)for ‘conventional’ cars will not be able to fall sufficiently to reduce consumption of suchcars to socially optimal in the market for ‘conventional’ cars.• Alternatively, students can explain with respect to the usage of hybrid cars, greentechnology such as solar panels and relate to positive externality from using suchdevicesWith a rise in cost of production of green technology such as hybrid cars, MPC would notfall/ MPC would increase due to increased price of rare earths to sufficiently reach Qse inthe market for hybrid cars.Antithesis: May not be a challengev West may consider importing green tech from China.Evidence:o ‘China could emerge as the unquestioned global leader in clean energyproduction … by exporting these clean-energy technologies to the world’(Extract 3, last para)o ‘Rare Earth metals are needed for the manufacturing of wind turbines, solarpanels…hybrid car batteries meaning the Chinese monopoly could shift thehigh-tech manufacturing industry bases from Japan and Korea to China.’Extract 1 para 3With possession of most of the world’s Rare Earth, China gained CA in production ofRare earth and the goods made from Rare Earth over other countries. China alsogained CA in the extraction of rare earth being the “leader in the field of extraction”thus far. Hence China might be able to manufacture green tech at a lower cost thanother countriesà can “export these clean-energy technologies to the world” at a relativelylow prices given the lower opportunity cost in production
Hence as long as the West is willing to import from China, the costs may not escalateto a large extent.West may be prompted to devote more expenditure into R&D to find more sources of rareearth, to develop extraction and refining tech so as to cut dependence on ChinaHowever, efforts to find new mines- take long time:In SR - PES
Page 1 and 2: ST ANDREW’S JUNIOR COLLEGEH1 ECON
Page 3 and 4: demand for hotel accommodation. The
Page 5 and 6: Cost/Benefits/$ Welfare loss MSC =
Page 7 and 8: more than proportionate fall in qua
Page 9 and 10: Price S P 1 P 2 D 1 D 2 Market for
Page 11 and 12: ERP• Works by charging drivers an
Page 13 and 14: 2010 YJC Prelims H1 Paper CSQ1: Hou
Page 15 and 16: quantity transacted increases and h
Page 17 and 18: with the large amount of subsidies
Page 19: (b) With the help of a diagram, ana
Page 23 and 24: Marks Scheme:L3( 7 - 8m)L2(4 - 6m)L
Page 25 and 26: conclusion about absolute value of
Page 27 and 28: • Germany’s revival has been bu
Page 29 and 30: ising making labour relatively more
Page 31 and 32: (ii)With reference to the data, ass
Page 33 and 34: L3L2L1EA balanced discussion of the
Page 35 and 36: (b)Explain how a rise in interest r
Page 37 and 38: (d)Consider whether the evidence in
Page 39 and 40: The higher spending, translating in
Page 41 and 42: 2010 RI (JC) Prelims H1 Paper CSQ2:
Page 43 and 44: This will increase SOL of Chinese a
Page 45 and 46: 2. Appreciation is also needed to d
Page 47 and 48: Increase Real output for Asiaproduc
Page 49 and 50: Section B: EssaysMicroeconomics:1.
Page 51 and 52: Roads for Cars A X B Other infra
Page 53 and 54: With reference to Figure 2 above, (
Page 55 and 56: Conclusion:The future impact in the
Page 57 and 58: ConclusionSummarise and link to par
Page 59 and 60: Explain causes ofan increase in pri
Page 61: (b) Discuss the view that price con
Page 64 and 65: Take astandConclusionPrice ceiling
Page 66 and 67: Possible non-price determinants of
Page 68 and 69: Suggested answer (b)Price elasticit
Page 70 and 71:
Limitations of non-pricing strategi
Page 72 and 73:
Internet broadband connectionFoodEf
Page 74 and 75:
3. Antithesis: success of policy do
Page 76 and 77:
EvaluationE2For a reasoned judgemen
Page 78 and 79:
LevelsL3(7m - 10m)L2(5m - 6m)L1(1m
Page 80 and 81:
Subsidies to ConsumersWith governme
Page 82 and 83:
ooEspecially when demand is price i
Page 84 and 85:
Therefore the market is said to be
Page 86 and 87:
(b) INTRODUCTIONTo address the prob
Page 88 and 89:
However, a total ban does not makes
Page 90:
(7) 2011 IJC Prelim H2 Paper Q3
Page 94 and 95:
Besides the above, an increase in t
Page 96 and 97:
lower standard of living. This is e
Page 98 and 99:
(9) 2011 VJC Prelim H2 Paper Q4Sing
Page 100 and 101:
Explain how policies bring about ac
Page 102 and 103:
ConclusionTo have sustained actual
Page 104 and 105:
full employment, a country also
Page 106 and 107:
è The boost to exports & FDI impro
Page 108 and 109:
(11) 2011 HCI Prelim H1 Paper Q4Inf
Page 110 and 111:
Thesis (3) -Threat to improvement i
Page 112 and 113:
2 different approach to conduct mon
Page 114 and 115:
Trade PoliciesIn the light of an im
Page 116 and 117:
• Real-‐wage unemployment o
Page 118 and 119:
Knowledge, Application, Understandi
Page 120 and 121:
aggregate demand in U.S. and decrea
Page 122 and 123:
Marking SchemeL3Well developed expl
Page 124 and 125:
Conclusion on demand management pol
Page 126 and 127:
E2 For an evaluative assessment bas
Page 128 and 129:
Long run• Provided higher course
Page 130 and 131:
• Exchange rate policy may not be
Page 132 and 133:
economic growth, a fall in demand-d
Page 134 and 135:
Illustration:Assumptions:• Only t
Page 136 and 137:
(18) 2011 DHS Prelim H2 Paper Q1Sin
Page 138 and 139:
Singapore does not specialise c
Page 140 and 141:
As output increases, real national
Page 142 and 143:
oooHigh level of integration in
Page 144 and 145:
2010 IJC Prelim 2010 H2 Paper Q6(a)
Page 146:
à growing affluence àrise in dema
show all

Suggested Answers of BT2 Revision Package - ASKnLearn

Create successful ePaper yourself

Delete template?

Save as template?