2013_NJC_H1_Econs_Prelim (P1)

This document consists of 11 printed pages; including 3 cover pages. NATIONAL JUNIOR COLLEGE Economics Department [Turn Over] © NJC 2013 ECONOMICS 8819/01 Paper 1 3 September 2013 3 hours Additional Materials: Answer Paper READ THESE INSTRUCTIONS FIRST Write your student registration number and name 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 any diagrams, graphs or rough working. Do not use paper clips, highlighters, glue or correction fluid. Section A: Case Study Questions Answer ALL questions. You are advised to spend some time reading through the data before you begin writing your answers. Section B: Essay Questions Answer ONE question. The number of marks is given in brackets [ ] at the end of each question or part question. Start each question on a new piece of paper. At the end of the examination, fasten all your work securely with the cover pages given. Fill in the necessary information on the cover pages. You are reminded of the need for good English and clear presentation in your answers. NATIONAL JUNIOR COLLEGE SH2 Preliminary Examinations for General Certificate of Education Advanced Level Higher 1

Section A Answer all questions in this section. Question 1 Cooling the Public Housing Market Extract 1: HDB resale prices hit record highs, even with supply ramped up The Housing and Development Board (HDB) resale prices have soared to a record high, even as HDB ramps up the supply of new flats to keep a lid on prices. Resale prices went up by 2 per cent - the largest increase since the third quarter of last year, according to latest estimates. This news comes even as HDB is launching more new flats with its Build-To-Order exercises in areas such as Queenstown, Bedok, Toa Payoh, Sengkang and Choa Chu Kang, which will be put on the selling block next month. Unfortunately, it takes time for supply to catch up with demand because of the period required for construction. Source: Adapted from The Straits Times, 1 October, 2012 Extract 2: Second half of Government Land Sales creates more housing and commercial sites The second half of the 2013 Government Land Sales Programme with 11 confirmed list sites and 20 reserve list sites was announced on Tuesday. Together with pending projects, the supply is assessed to meet continued demand for private housing and commercial space. Each year, Urban Redevelopment Authority acts as agent for the State in carrying out land sales, which are earmarked for competing uses such as for commercial, hotel and private residential developments. The objective of Government Land Sales programme is to meet the demand for properties by the private sector, supporting the economic gro wth and implementing key development plans of Singapore. This year, t