2023 RI H2Econs Prelims P1 Questions

9570/01/Prelims/Y6/23 © RI 2023 [Turn over RAFFLES INSTITUTION 2023 YEAR 6 TERM 2 PRELIMINARY EXAMINATION Higher 2 ECONOMICS 9570/01 Paper 1 Case Study Questions 29 August 2023 2 hours 30 minutes Additional Materials: Answer Paper READ THESE INSTRUCTIONS FIRST Write your name, index number and civics class on all the work you hand in. Write in dark blue or black pen on both sides of the paper. You may use a soft pencil for diagrams, graphs or rough working. Do not use paper clips, highlighters, glue or correction fluid. Answer all questions. The number of marks is given in brackets [ ] at the end of each question or part question. Start each Case Study on a fresh sheet of paper. At the end of the examination, fasten your answers to Case Study 1 and Case Study 2 separately. Detach this cover page and secure it in front of answers to Case Study 1. Question Marks Name: __________________________ Civics Class: _____________________ _____________________ 1 /30 Economics Tutor: ________________ 2 /30 This document consists of 10 printed pages and 1 blank pages.

2 9570/01/Prelims/Y6/23 © RI 2023 [Turn over BLANK PAGE

3 9570/01/Prelims/Y6/23 © RI 2023 [Turn over Question 1 The Cotton Market Figure 1: World Cotton Price (US$) Source: Macrotrends, March 2023 Figure 2: Leading cotton producing countries (in thousand metric tons) Source: Statistica, 2021 and 2022 Extract 1: Cotton Farmers in India and Pakistan Bear the Brunt of Unpredictable Rainfall Farmers have been growing cotton in India and Pakis tan for thousands of years. But that shared history and benefit is under threat because of weather volatility. The year 2021 will remain etched in the memory of Anantha Kumar Pichaipillai, a cotton farmer from Tamil Nadu. For the first time in eight years, he did not grow cotton. Extreme rainfall wreaked havoc on his cotton farm. “This has been unseen for 100 years,” he said. “January is a month of minimal rain. That has changed since 2021. India received 10 times more rainfall than usual, according to the Indian Meteorological Department (IMD). That deluge was a preview of what Pakistan faced in August 2022, when torrential rains damaged 80% of the cotton crop in the Sindh province and caused a damage of around $15 billion. $0.73 $0.82 $0.67 $0.93 $1.12 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 2018 2019 2020 2021 2022 5,879 5,334 3,815 2,678 1,306 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 China India United States Brazil Pakistan

4 9570/01/Prelims/Y6/23 © RI 2023 [Turn over While too much rain can be devastating, so can dry conditions at the wrong time. “Cotton is grown in dry weather conditions and benefits from the monsoon. The recent phenomenon of extreme heat and the extreme downpour is disrupting the situation,” said Y.E.A. Raj, former deputy director general