YIJC 2024 JC2 H2 Prelim CSQ2 Suggested Answers

YISHUN INNOVA JUNIOR COLLEGE JC 2 PRELIMINARY EXAMINATION Higher 2 CANDIDATE NAME CG INDEX NO ECONOMICS Paper 1 Case Study Questions Additional Materials: Writing Papers Cover Pages 9570/01 23 August 2024 2 hour 30 minutes READ THESE INSTRUCTIONS FIRST Write your name, CG and index number on the work you hand in. Write in dark blue or black pen on both sides of the paper. You may use a HB pencil for any diagrams or graphs. Do not use staples, paper clips, glue or correction fluid/tape. There are two questions in this paper. Answer all questions. Start each question (not each part) on a fresh piece of writing paper. At the end of the examination, fasten your work for each question separately. The number of marks is given in brackets [ ] at the end of each question or part question. This document consists of 8 printed pages and 2 blank pages. [Turn over

©YIJC2024 9570/01/Prelim/24 2 Question 2 Sustainability Efforts in Singapore and China Table 1: Singapore, selected indicators 2019 2020 2021 2022 2023 Real GDP Growth rate 1.35% -3.87% 9.69% 3.84% 1.08% Inflation Rate 0.57% -0.18% 2.31% 6.12% 4.82% Carbon emissions per capita (tons) 5.8 9.3 9.4 8.9 9.46 Table 2: China, selected indicators 2019 2020 2021 2022 2023 Real GDP Growth rate 5.95% 2.24% 8.45% 2.99% 5.24% Inflation Rate 2.9% 2.49% 0.92% 1.98% 0.23% Carbon emissions per capita (tons) 7.5 7.7 8.0 8.0 8.9 Source: https://www.statista.com, accessed 5 August 2024 https://ourworldindata.org, accessed 5 August 2024 Extract 5: Towards a sustainable and resilient Singapore Since our founding, we have designed policies with longterm sustainability in mind. We integrated nature into our Garden City and prudently managed scarce resources such as water and energy. Today, all Singaporeans, rich or poor, young or old, enjoy clean air, water and sanitation, quality healthcare and education, as well as lush greenery and safe common spaces because of these policies. As a tropical small island developing state, we are vulnerable to extreme weather patterns and rising sea levels. We hav e designated 2018 as the Year of Climate Action and taken concrete steps to tackle climate change. We will implement an economy-wide carbon tax from 2019, one of the first Asian countries to do so. Singapore’s carbon tax regime was first implemented from 2019, with an initial tax rate of $5 per tonne of greenhouse gas emissions. This tax rate was in place until 2023. Climate advocates had long said that a carbon tax of $5 per tonne was too low to prompt large emitters to do more to cut their planet -warming emissions. In February 2022, Finance Minister Lawrence Wong said in his Budget speech that Singapore’s carbon tax rate wou ld be adjusted upwards, to $25 per tonne of greenhouse gas emissi