RVHS 2023 J2H2 Prelim P2 Final QP

This document consists of 3 printed pages and 1 blank page. [Turn over ECONOMICS 9570/02 Paper 2 Essays 14 September 2023 2 hours 30 minutes Additional Materials: Answer Booklet READ THESE INSTRUCTIONS FIRST Answer three questions in total, of which one must be from Section A, one from Section B and one from either Section A or Section B. The number of marks is given in brackets [ ] at the end of each question or part question. Answer each question using separate answer booklets. You can ask for an additional booklet if you need more than one for a question. Indicate clearly the question number . For each Answer Booklet: Write your name, Centre number and index number on the first page of all Answer Booklets that you hand in. Write clearly and use capital letters. For each Answer Booklet, use both sides of the paper. Write in dark blue or black pen. HB pencil may be used for graphs and diagrams only. DO NOT WRITE ON ANY BARCODES. Do not tear out any part of the Answer Booklet. All work must be handed in. If you have used any additional booklet, please insert it inside the first Answer Booklet. RIVER VALLEY HIGH SCHOOL JC 2 Preliminary Examination in preparation for General Certificate of Education Advanced Level Higher 2

2 © RVHS 2023 9570/02 Section A One or two of your three chosen questions must be from this section. 1 Malaysia is introducing an export ban on chicken, in addition to the existing price ceiling to keep chicken prices low domestically. Singapore imports live chickens from only Malaysia and this makes up 34% of its overall chicken supply - the most widely consumed meat here. Concurrently, there are also campaigns e ncouraging Singaporeans to consume vegan meat for health and ethical reasons. (a) Explain how the above events will lead to a sharp i ncrease in the price of chicken in Singapore. [10] (b) Discuss whether the imposition of a price ceiling or an export ban is more effective in bringing about a fall in the price of chicken in Malaysia . [15] 2 Technology has disrupted many industries across dif ferent market structures, affecting revenue, costs and profits of firms. Faced with co nstraints of a tight labour market and an increasingly competitive business environment, firms have turned to using technology to improve their outcomes. (a) Explain how technology has affected market structur es and resulted in differing abilities of firms to earn supernormal profit. [10] (b) Discuss whether the use of technology is better than the use of a pricing strategy to improve the outcomes for firms.