2022 HCI H1 Econs Prelim Paper 1

1 © Hwa Chong Institution 2022 8823/01/S/C2 Prelim 2022 HWA CHONG INSTITUTION C2 Preliminary Examinations Higher 1 CANDIDATE NAME CT GROUP 21 ECONOMICS Paper 1 Case Study Questions Additional Materials: Answer Booklet 8823/01 12 September 2022 3 hours READ THESE INSTRUCTIONS FIRST Read all instructions printed on the cover page of the 12-page answer booklet carefully. Write all your particulars clearly on the cover page of the 12-page answer booklet. Write in dark blue or black pen on both sides of the paper. You may use a soft HB pencil for any diagrams, graphs or rough working. Do not use staples, paper clips, highlighters, glue or correction fluid and tape. Answer ALL questions. Write all your answers in the 12-page booklet and subsequent 4-page booklets (if required). Do all your rough work in pen using the answer booklet and cross it through without making it illegible. Do not tear out any part of this booklet. Begin case study question 1 and question 2 on a new page within the answer booklet. All work must be handed in. If you have used any additional 4-page booklets, please insert them inside the 12–page answer booklet. The number of marks is given in brackets [ ] at the end of each question or part question. You may use a calculator. You are advised to spend several minutes reading through the questions before you begin writing your answers. You are reminded for the need for good English and clear presentation in your answers. This document consists of 9 printed pages and 1 blank page. [Turn over

2 © Hwa Chong Institution 2022 8823/01/S/C2 Prelim 2022 Answer all questions Question 1: The market for face mask Figure 1: Global price in polypropylene (PP) from January 2020 to March 2021 (US dollars per metric ton) Source: https://www.researchgate.net, accessed on 27 May 2022 Extract 1: The global face mask market The market revenue of protective face masks will cross US$7.1 billion by 2027. Increasing prevalence of COVID -19 infection across the world will positively influence the market growth. According to the US Centre for Disease Control & Prevention (CDC), approximately 120 million individuals are suffering from COVID-19 infection across the world. To overcome this situation, several authorities such as CDC and World Health Organisation (WHO) have advised the use of face masks to reduce the unintended spread of infections. Also, due to a rise in the number of cases, there has been a global surge in demand for masks for personal health. To overcome such shortcoming, manufacturers are ramping up the production across the globe. Source: Global Market Insights, 22 March 2021 Price in US dollars per metric ton

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