ACJC H2 Prelim 2024 P1 QP

ANGLO-CHINESEJUNIORCOLLEGE 2024JC2PRELIMINARYEXAMINATIONS ECONOMICS 9570/01 Higher 2 Paper1 19August2024 2hours30minutes Additional materials: Writingpapers2coversheets READTHESEINSTRUCTIONSFIRST Writeyourexamindexnumberandnameonall theanswersyouhandin.Writeindarkblueorblackinkpenonbothsidesofthepaper.Youmayuseasoftpencil foranydiagrams,graphsorroughworking.Donotusestaples,paperclips,highlighters,glueorcorrectionfluid/tapeinyouranswers. Answer allquestions. BeginQuestion2onafreshsheetofwritingpaper. Attheendoftheexamination,arrangeyouranswersinorder.FastenyouranswersforQuestion1andQuestion2separatelyusingthecoversheetsprovided. Thenumberofmarksisgiveninbrackets[]attheendofeachquestionorpartquestion. Thisdocumentconsistsof 8printedpages(includingthispage).Pleasecheckthatyourquestionpaperiscomplete.

2 Answer allquestions Question1: SustainableDevelopment inSingapore Figure1: Cost of energygeneratedfromsolar power vsfossil fuels: Source:International RenewableEnergyAgency Extract 1: Renewablesincreasinglybeat eventhecheapest coal competitorsoncost. Renewable power, or collectively known asrenewables, isincreasinglycheaper thanfossilfuels, anewreport bytheInternational RenewableEnergyAgency(IRENA)publishedtodayfinds. Thereport highlightsthat newrenewablepower generationprojectsnowincreasinglyundercut existingcoal-firedplants. Onaverage, solar power andwindpower cost lessthankeepingmanyexistingcoal plantsinoperation. Renewable electricity costs have fallen sharply over the past decade, drivenbyimprovingtechnologies, economies of scale, increasingly competitive supply chains and growingdeveloper experience. Since2010,solarpowerhasshownthesharpestcostdeclineat82%,followedbywindat39%. Renewablesoffer awaytoalignshort-termpolicyactionwithmedium-andlong-termenergyand climate goals. Renewables must be the backbone of national efforts to restarteconomies in the wake of the COVID-19 outbreak. With the right policies in place, fallingrenewablepowercostscanshiftmarketsandcontributegreatlytowardsagreenrecovery. Source:International RenewableEnergyAgency,2June2020 Extract 2: ‘Long Island’ along East Coast being studied as part of URA’s plans forcoastal protection, housingneeds. Areclaimed‘LongIsland’ alongthesouth-easterncoastofmainlandSingaporemayonedaynot onlyoffer protectionagainst floodsandrisingsealevels, but alsoanewspotforleisureandrecreation, muchliketheMarinaBarrage. Livingonthe"island", whichisenvisionedtostretcharound15kmfromMarinaEasttoChangi,mayalsobeapossibility. ©ACJC2024PreliminaryExam9570/01

3 The Long Island concept was one of the possible options laid out as part of Singapore’sS$100 billion plan to protect itself from rising sea levels. The Urban RedevelopmentAuthority (URA) said that it isstudyingwaystointegratecoastal protectionmeasuressuchasLongIslandwithfuturereclamationthatareintheworks. “Thiscouldincludecreatinganewreservoir toenhanceour floodandwater resilience.The‘Long Island’ can be developed for new homes and integrated with coastal