TMJC 2023 H2 Economics P1 QP

_________________________________________________________________________ H2 ECONOMICS 9570/01 Paper 1 12 September 2023 2 hours 30 minutes Additional materials Two Answer Booklets _________________________________________________________________________ READ THESE INSTRUCTIONS FIRST Write your name and Civics Group on all the work you hand in. Write in dark blue or black pen on both sides of the paper. You may use an HB pencil for any diagrams, graphs or rough working. Do not use staples, paper clips, glue or correction fluid. Answer all questions. The number of marks is given in brackets [ ] at the end of each question or part question. Begin Question 1 and Question 2 on a new answer booklet. Hand in Question 1 and Question 2 separately . _________________________________________________________________________________ This document consists of 9 printed pages and 1 blank page. TAMPINES MERIDIAN JUNIOR COLLEGE JC2 PRELIMINARY EXAMINATION

2 Tampines Meridian Junior College 2023 JC2 Prelim H2 Economics 9570 Paper 1 Answer all questions. Question 1: Global warming and the ice cream industry Extract 1: US ice cream industry sees bright future ahead The ice cream category saw sales increase less than 1% to US$6.79 billion in US multi-outlets for the year 2022, according to Chica go-based Information Resources Inc. (IRI) data (Table 1). An increase in sales is positive news as this category suffered a decline in sales during the prior year. Table 1: US ice cream sales, 2022 Product Dollar sales Unit sales (million US$) % change vs. year ago (million) % change vs. year ago Ben & Jerry’s $917 - 3.1% 182 - 10.5% Haagen Dazs $785 9.9% 168 2.4% Blue Bell $657 4.5% 126 - 4.8% Breyers $498 - 0.7% 120 - 4.1% Tillamook $251 19.4% 52 21.6% Category total* $6 789 0.2% 1 629 - 4.5% *Includes brands not listed Source: IRI, for the 52 weeks ending 4 September 2022 On an individual dairy processor basis, Tillamook had the best year. According to IRI, its dollar sales increased by more than 19% to US$251 million. “Our ice cream business has been very successful an d has grown enormously over the past few years. Although our organisation is over 110 years old, it is only recently that we have expanded our ice cream distribution outside Pacific Northwest, and that has been the biggest driver of our growth in the la st year,” Ty Holden, assistant category growth manager, Tillamook County Creamery Association, tells Dairy Foods . “We know that we make the best ice cream (due to ad ding extra cream), so our focus is making it available to as many people as possible by expanding into new regions, channels, and retailers. In the future, we will continue to grow by increasing our assortment with exciting new flavors and by introducing new formats and platforms that reach incremental consumers.” “Just like many other ice cream brands, despite sup ply-chain disruptions that had many businesses scrambling for inputs such as raw materials and labour, we saw an increase in consumption during the height of the pandemic as people spent more time at home as ice cream shops and other public venues were closed. Everyone loves ice cream. It’s nostalgic and delicious and great to sh are with loved ones, so it wasn’t surprising to see demand spike during such a time t hat was difficult for so many people,” reveals Holden. “As things have slowly ret urned closer to normal, we have seen some of that demand drop from the pandemic’s peak levels. However, demand is still well above pre-pandemic levels, and we onl y expect it to keep growing,” adds Holden, echoing similar sentiments from other ice cream processors. Source: Dairy Foods, 22 November 2022

3 Tampines Meridian Junior College 2023 JC2 Prelim H2 Economics 9570 Paper 1 Extract 2: Japan's heat will impair Olympic athletes' performance The Tokyo Games that are postponed from 2020 because of the COVID-19 pandemic are scheduled to run from 23 July to 8 August 2021. According to a report, there are concerns about the climate in the run-up to the event. The mean annual temperature in the region has risen by 2.86 degrees Celsius since 1900 - three times as fast as the world average. In 2018, a July heatwave was called a natural disaster by Japan's weather agency, while in 2019 more than 5000 people were hospitalised in around a week because of similar weather conditions. Mara Yamauchi, who competed in the marathon for Bri tain at the 2008 and 2012 Olympics, backed the report. She said: "We risk potentially far-reaching consequences for sport as we know it if climate change continues apace. "We can all do our bit, even in a small way, to mitigate the effects of climate change arising from greenhouse gas emissions due largely to the burning of fossil fuels for energy, and conserve sport and the Olympics in viable forms for future generations." Along with the marathon being moved to Sapporo, org anisers have looked at other options such as cooling mist machines and surfacing roads along the route with a heat-reducing reflective material. "There will be c ooling stations not just for human beings but also for horses," Games delivery officer Hidemasa Nakamura said. "For volunteers, we have salt candies, tablets and ice cream." And as temperatures soar, so do sales of a snack for which the Japanese notoriously have a sweet spot — ice cream. Baskin-Robbins is ev en bringing back a crowd favourite perfectly timed with the Tokyo 2021 games : the Gold Medal Ribbon ice cream. Source: BBC News, 26 May 2021 Extract 3: Serving up Aussie ice cream to the world The Australian government is helping Australian-mad e ice cream reach taste buds around the world, with record exports worth A$46 mi llion in 2020-2021. The A$72.7 million Agribusiness Expansion Initiative is supporting Australian exporters, including ice cream makers and dairy producers, to reach new international markets. Minister for Trade, Tourism and Investment, Dan Tehan said Australia was recognised as a world-leading producer of premium dairy produc ts. “A cold ice cream on a hot summer's day is one of life's simple pleasures, and one we're exporting to the rest of the world,” Mr Tehan said. “Our grass-fed cows produce high-quality cream and milk, so it's no surprise that international customers are lapping up our ice creams and dairy products. Australian dairy farmers are overcoming challenges posed by the pandemic and global trade settings, and the Australian Government is right behind them as they display their wares to the world and in turn support more jobs across Australia.”

4 Tampines Meridian Junior College 2023 JC2 Prelim H2 Economics 9570 Paper 1 Australian dairy company Bulla Dairy Foods doubled its exports to Malaysia in 2020 and employed an additional 200 people to meet the d emand for its products both domestically and overseas. Bulla International Busi ness Manager Sam Zhang said: “Our international growth has no limit. Austrade 1 has been and will be pivotal to our export business. They've helped us find new customers and sell on major platforms.” However, Australia has not just made a name for itself internationally as a producer of premium dairy products; it also has one of the worl d’s highest skin cancer rates – a result of ultraviolet radiation due to the reductio n in its ozone layer since the 1970s. The growth of Australia’s exports leaves a carbon f ootprint, as do its 28.8 million methane-belching cows; the milk of which Australia’s dairy products owe its premium Aussie taste to. And in the meantime, while Australia’s dairy products experience a boom, its minerals industries have somewhat lost their shine as competition in world markets intensifies, often from countries with previously insignificant minerals industries. With the wo