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2010 PJC Prelims H1 Paper CSQ1: Tourism in Singaporea (i) Using Table 2, summarize the trends in tourism receipts. 2MarksGeneral trend1§ Overall increasing trend (tourist receipts rose by 55%)Refinement§ Tourism receipts from India rose the most by 89%§ The lowest increase in tourism receipts were from Japan (1.4%)§ There was a steady increase in tourism for all countries during thisperiod with the only exceptions being Japan in 2006 and the USA in20081a (ii) Explain the possible reasons for the above trends. 2Recall : Total revenue = Price x quantity§Rise in tourism receipts can be due rising number or tourists, or anincrease the prices tourists are willingness to pay for Singaporean goodsand services§The Singapore government has launched various initiatives includingsports events tourism. This has raised the supply of tourism. The highprofile events may have raised awareness of the country as a touristdestination leading to increased demand as well. This has led to anincreased number of tourist visiting and thus, an increase in tourismrevenue.§Rising incomes have led to increase in demand for normal goods suchas tourism, especially in rapidly growing economies like China and India.This has caused tourist numbers to rise and accounts for the rapid rise intourism receipts.Marking Scheme§§Explanation of increase in tourism receipts through a rise in touristnumbers (Quantity) or an increase in expenditureUse of data1m1mb (i)Using a demand and supply diagram, explain how hosting the FormulaOne Grand Prix and the imposition of a sales tax would affect themarket for hotel accommodation.There would be an increase in the number of tourists visiting Singaporeduring the Formula One Grand Prix. This would lead to an increase in the61
demand for hotel accommodation. The demand curve for hotelaccommodation shifts to the rightThe proposed sales tax will lower profits of hotels. Hence, firms will reduceoutput and it will be reflected as a leftward shift of the supply curve for hotelaccommodation1Price P1 S1 S0 Figure 1 1P0 Q0 Q1 D0 D1 Quantity of hotel accommodation With demand increasing and supply falling, a shortage results so room rateswill definitely increase with those at track side hotels rising the most. (Extract2)Equilibrium quantity is indeterminate as it depends on the extent of the shiftof increase in demand and fall in supply. (theory)But since there are more tourists coming to Singapore, there is evidence thatQ will increase, that is increase in demand is more than the fall in supply.(application)111c (i) What is meant by Price elasticity of demand. 2Definition –Price elasticity of demand (PED) is the degree of responsiveness of quantitydemanded of a good due to a change in the price of the same good, ceterisparibus.1§§It is calculated by taking the percentage change in quantity demandeddivided by the percentage change in price. ORIf PED exceeds 1, a rise in the price of the good will cause a more thanproportionate increase in the quantity demanded. Conversely, a PED ofless than 1 implies that a rise in price will lead to a less thanproportionate increase in quantity demanded.1
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Page 25 and 26: conclusion about absolute value of
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With reference to Figure 2 above, (
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Conclusion:The future impact in the
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ConclusionSummarise and link to par
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Explain causes ofan increase in pri
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(b) Discuss the view that price con
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Take astandConclusionPrice ceiling
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Possible non-price determinants of
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Suggested answer (b)Price elasticit
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Limitations of non-pricing strategi
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Internet broadband connectionFoodEf
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3. Antithesis: success of policy do
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EvaluationE2For a reasoned judgemen
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LevelsL3(7m - 10m)L2(5m - 6m)L1(1m
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Subsidies to ConsumersWith governme
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ooEspecially when demand is price i
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Therefore the market is said to be
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(b) INTRODUCTIONTo address the prob
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However, a total ban does not makes
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(7) 2011 IJC Prelim H2 Paper Q3
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Besides the above, an increase in t
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lower standard of living. This is e
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(9) 2011 VJC Prelim H2 Paper Q4Sing
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Explain how policies bring about ac
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ConclusionTo have sustained actual
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full employment, a country also
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è The boost to exports & FDI impro
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(11) 2011 HCI Prelim H1 Paper Q4Inf
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Thesis (3) -Threat to improvement i
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2 different approach to conduct mon
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Trade PoliciesIn the light of an im
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• Real-‐wage unemployment o
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Knowledge, Application, Understandi
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aggregate demand in U.S. and decrea
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Marking SchemeL3Well developed expl
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Conclusion on demand management pol
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E2 For an evaluative assessment bas
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Long run• Provided higher course
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• Exchange rate policy may not be
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economic growth, a fall in demand-d
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Illustration:Assumptions:• Only t
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(18) 2011 DHS Prelim H2 Paper Q1Sin
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Singapore does not specialise c
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As output increases, real national
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oooHigh level of integration in
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2010 IJC Prelim 2010 H2 Paper Q6(a)
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à growing affluence àrise in dema
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