RI 2023 H2 Y6 Timed Practice (Final)

9570/01/TP/Y6/23 © RI 2023 [Turn over RAFFLES INSTITUTION 2023 YEAR 6 TERM 2 TIMED PRACTICE Higher 2 ECONOMICS 9570/01 Paper 1 Case Study Questions 20 March 2023 2 hours Additional Materials: Answer Paper READ THESE INSTRUCTIONS FIRST Write your name, index number and civics class on all the work you hand in. Write in dark blue or black pen on both sides of the paper. You may use a soft pencil for diagrams, graphs or rough working. Do not use paper clips, highlighters, glue or correction fluid. Answer all questions. The number of marks is given in brackets [ ] at the end of each question or part question. Start each Case Study on a fresh sheet of paper. At the end of the examination, fasten your answers to Case Study 1 and Case Study 2 separately. Detach this cover page and secure it in front of answers to Case Study 1. Question Marks Name: __________________________ Civics Class: _____________________ _____________________ 1 /25 Economics Tutor: ________________ 2 /25 This document consists of 10 printed pages and 1 blank pages.

2 9570/01/TP/Y6/23 © RI 2023 [Turn over BLANK PAGE

3 9570/01/TP/Y6/23 © RI 2023 [Turn over Extract 1: Gig economy – a surprise boost from the pandemic In Asia Pacific, 81 million jobs were reportedly lost in 2020 due to the pandemic . The unemployment rate in many countries rose to double digits . The gig economy, meanwhile, provided lifelines keeping many afloat as workers from travel and tourism industries turned to gig jobs to boost their incomes. Offering greater flexibility, gig work has been popular in Singapore for some years now, even before the pandemic. Many have turned to gig work while waiting for permanent employment or use it to supplement their income while dabbling in ventures, in education or entrepreneurship. Part of this revolution is powered by technology – the rise of platform apps that allow you to order anything you desire with your phone. Throughout the circuit breaker and thereafter, there has been an increased reliance on these platform services. Although ride-sharing services on platforms such as Grab saw a fall in 2020 as people commuted less, a surge in food-delivery fuelled large revenue growth for these companies. For workers traditionally at the lower end of the skills ladder, in a non -gig world, they may be confined to fixed jobs as cashiers , security staff or cleaners with long hours and low pay. By becoming platform workers such as delivery workers and private-hire car drivers who use online platforms to match their services with demand, they could make thousands a month. Source: Channel News Asia, 2021 Figure 1: Number of platform workers in Singapore’s gig economy, 2018 - 2021 Source: Ministry of Manpower, 2021 Extract 2: More support for the gig workers The low-cost, asset-light model of platform companies like Grab, Uber and