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However, a total ban does not makes sense too because there may be almost nosubstitutes to flying between two places, unless the land or even sea transport systembetween these two places is excellent that it almost takes the same time to reach theother destination as it would be if one was taking a plane. In some countries, the poorland transport system means that flying may be inevitable. Furthermore, a total banwould result in a total loss of the possible social benefits of flying to society. In Figure 4,we see that a total ban will result in a greater welfare loss of Area B than if nothing wasdone to regulate flying at Q P .Costs/BenefitsYMSC = MPC + MECMPCBXAZ0 Q SMPB = MSBOutput levelQ PFigure 4To sum it up, out of the three solutions proposed, the tax system seems more reasonableand practical to implement. In this globalised world, flying becomes more and moreindispensible and the demand for flying is price inelastic. Therefore governments canimplement the tax system, collect more tax revenue since the increase in cost of flyingresults in a less than proportionate fall in the amount of flying, and at the same time allowsthe market to move towards the socially optimal amount of flying. The extra tax revenuecould then be used to subsidise plane manufacturers through research and developmentsuch as Boeing and Airbus to develop new commercial jets that are environmentally friendlyand cost efficient.The other two solutions are harder to implement because it becomes a nightmare to even tryto predict the amount of permits deemed desirable, and enforcement is almost impossible.Lastly, banning of flights is almost impossible, because in the free market, market forcesshould be dictating whether people decide to fly or not, not governments.
LevelsL3(9m - 11m)L2(6m - 8m)L1(1m - 5m)E2(3m - 4m)Descriptors• Use of appropriate framework/concepts in analysiso MSB/MSC framework• In-depth discussion of questiono Appropriate and well structured thesis/antithesiso Logical reasons to support why these solutions must beused with caution to correct inefficiency in air travelmarket.• Good depth of analysiso Well-elaborated cause-effect relationship with diagrams• Use of appropriate framework/concepts in analysis- MSB/MSC framework• Sufficient scope of coverage- Thesis/antithesis structure• Sufficient depth of analysis- primary and important cause-effect relationships are explained• Some errors in analysis•• Lacks use of economics framework/concepts in analysis• Lacks scope of coverage- Thesis/antithesis structure• Irrelevant answer• Glaring conceptual errors• No explanation of the how the solutions can solve market failure• For an insightful and explained assessment based on economicanalysisE1(1m - 2m)• For an unexplained assessment on why one of the proposedsolutions is the best
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ST ANDREW’S JUNIOR COLLEGEH1 ECON
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demand for hotel accommodation. The
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Cost/Benefits/$ Welfare loss MSC =
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more than proportionate fall in qua
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Price S P 1 P 2 D 1 D 2 Market for
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ERP• Works by charging drivers an
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2010 YJC Prelims H1 Paper CSQ1: Hou
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quantity transacted increases and h
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with the large amount of subsidies
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(b) With the help of a diagram, ana
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Hence as long as the West is willin
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Marks Scheme:L3( 7 - 8m)L2(4 - 6m)L
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conclusion about absolute value of
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• Germany’s revival has been bu
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ising making labour relatively more
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(ii)With reference to the data, ass
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L3L2L1EA balanced discussion of the
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(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
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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 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
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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
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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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