2022 ASRJC JC1 H1 Promo QP

© ASRJC 8843/JC1 Promotional Examination/2022 [Turn over ECONOMICS 8843/01 Paper 1 26 September 2022 Additional Materials: Answer Booklet 2 hours 5 mins READ THESE INSTRUCTIONS FIRST Write down your name and class on all the work you hand in. Write in dark blue or black pen. You may use an HB pencil for any diagrams, graphs or rough working. Do not use staples, paper clips, highlighters, glue or correction fluid. An answer booklet will be provided with this question paper. You should follow the instructions on the front cover of the answer booklet. If you need any additional answer booklets, ask the invigilator for a continuation booklet. Answer all questions. The number of marks is given in brackets [ ] at the end of each question or part question. Name: ________________________________ Class: 23 / _____ This document consists of 5 printed pages and 3 blank pages. ANDERSON SERANGOON JUNIOR COLLEGE JC1 PROMOTIONAL EXAMINATION Higher 1 Question Number Marks Awarded 1 /40 2 /10 TOTAL /50

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3 © ASRJC 8843/JC1 Promotional Examination/2022 [Turn over Answer all questions. Question 1: Healthcare Issues Figure 1: Singapore’s labour cost index Source: Tradingeconomics.com, accessed 10 August 2022 Extract 1: Firms offering higher pay due to manpower crunch, thus driving up costs Rising manpower costs and the lack of available manpower, resulting from border restrictions to curb the spread of Covid-19, are some of the top challenges that companies face. This was found through an annual survey by the Singapore Business Federation (SBF), which polled companies here on how the pandemic has affected their business this year and their outlook going forward. SBF's chief executive officer Lam Yi Young said in a media briefing on Wednesday (Dec 8) that companies have had to increase their wages to retain their workers or get others to jump ship, leading to higher manpower costs. "I think it's very much driven by overall shortage of skilled workers in particular sectors. Companies, on one hand, are worried about rising manpower costs, but they feel they have no choice but to p ay more in order to get the people they need, which then leads to even higher manpower costs," Mr Lam said. Adapted from Todayonline, 8 December 2021 Extract 2: Healthcare spending on the rise because of higher utilisation, rising manpower costs Singapore's healthcare expenditure is set to continue to increase, Health Minister Gan Kim Yong said in Parliament on Thursday (Mar 5). He said that Singapore’s national health expenditure increased from S$13 billion in 2012 to S$22 billion