SAJC 2019-2023 JC1 H2 Economics Final Exams

1 2024 JC1 H2 Economics Final Examinations Revision Package Instructions for this Revision Package • The intent of this revision package is to provide additional practice for you in preparation for the Final Examinations. It is by no means an exhaustive coverage of the content to be tested. • The H2 Economics syllabus has changed since 2022 (it is now 9570). Differences in the content have been marked out where applicable, but take note that there are some changes to the duration of the examinations outlined in the table below: H2 9570 (2022 onwards) H2 9570 (before 2022) 1 hr 15 mins for 30 marks CSQ 1 hr 7.5 mins for 30 marks CSQ 50 mins for 25 marks EQ 45 mins for 25 marks EQ • As you are going through this package, take note of both the content and skill sets that are required of each question. • As you check through your answers against the suggested answers provided, do check for the following: Checklist ✓ Have you answered to the question requirements? ✓ Is your answer structured in a logical and coherent manner? ✓ Have you provided rigorous and developed economic analysis in it? ✓ Have you applied your answer to the context provided and made use of relevant examples to illustrate your understanding? • When attempting the high-order questions, do take time to plan your responses. Question Interpretation Identify the command word, content required as well as the context Schematic Plan Structure your answer by planning the introduction, the body paragraphs (what are the 2 key requirements of the questions?) as well as the conclusion where you are required to evaluate your points raised Evaluation Address the question by making and substantiating your stand

2 Details of the Final Examinations • Date: 7 October 2024 • Time: 1400 - 1710 • Duration: Paper 1: 1 h 15 min (followed by 15 min admin break) Paper 2: 1 h 40 min • Format: Paper 1: 1 x Case Study Question; Paper 2: Choose 2 out of 3 Essay Questions Paper 1: Case Study (30 marks) – 1 hour 15 minutes (You are to answer all questions in this section) Case Study Question 30 marks Paper 2: Essay (25 marks) – 1 hour 40 minutes (You are to answer 2 out of 3 questions in this section) Essay Question 1 25 marks Essay Question 2 25 marks Essay Question 3 25 marks Total 80 marks Topics: 1. Central Problem of Economics 2. Resource Allocation in Competitive Markets I. Demand, Supply and Price Determination II. Government Intervention: Price ceiling, Price floor, Subsidy, Indirect Tax, Quota III. Elasticities of Demand and Supply (PED, XED, YED, PES) IV. Applications of Elasticities of Demand and Supply Concepts 3. Market Failure and Government Intervention I. Sources of Market Failure (Presence of Externalities, Info Failure, Non-Provision of Public Goods) II. Equity III. Government Intervention in the Market 4. Firms and Decisions I. Costs and revenue II. Objectives of Firms III. Firms’ Decision and Strategie