JJC_H2_ECONS_P1_QP

[Turn over READ THESE INSTRUCTIONS FIRST Write your name and class on all the work you hand in. Write in dark blue or black pen on both sides of the paper. You may use an HB pencil for any diagrams, graphs or rough working. Do not use staples, paper clips, highlighters, glue or correction fluid. Answer all questions. Begin each case study question on a fresh sheet of writing paper. Attempt case study questions in ascending order of question sequence and indicate questions attempted clearly on answer sheet. Fill in the necessary information on the cover sheet. At the end of the examination, tie all your work securely together. The number of marks is given in brackets [ ] at the end of each question or part question. This document consists of 7 printed pages. JURONG JUNIOR COLLEGE JC2 PRELIMINARY EXAMINATION 2018 ECONOMICS Higher 2 9757/01 Paper 1 27 August 2018 2 hours 15 minutes

2 Answer all questions. Question 1 World Cup and its related industries Table 1: Selected Indicators for Russia over the period 2013-2017 2013 2014 2015 2016 2017 Annual rate of growth in real GDP (%) 1.8 0.7 -2.8 -0.2 1.5 Inflation rate (%) 6.8 7.8 15.5 7.0 3.7 Unemployment rate (%) 5.5 5.2 5.6 5.5 5.2 Current account (% of GDP) 1.4 2.7 4.9 1.9 2.2 Carbon emission (metric tons per capita) 10.8 10.5 10.3 10.2 10.1 Source: OECD Table 2: Tickets at the 2018 World Cup Final Category 1 Category 2 Category 3 US$1 100 US$710 US$455 Source: fifa.com Extract 1: World Cup tickets Major football organisations implement the strategy of different category prices based on the attractiveness of specific seat locations. That typi cally means that the closer to the centre of the field the category of seats is (Category 1), the bette r the view and the more valuable it will be for the fans and supporters. Tickets at the 2018 World Cup range from $105 for Category 3 at group stage matches to $1 100 for Category 1 at the final. FIFA said that only tickets bought from the official website will be valid. A ll ticket holders need to hold a FAN ID, an identification document with their photographs, together with a valid match ticket in order to enter the stadiums. Source: Reuters, 13 September 2017 Extract 2: Domino's takes on 3 000 new staff With Russia’s economy recovering from negative growth, Domino’s, the popular pizza chain, wants to take on 3 000 new staff. To compete with other close rivals such as Pizza Hut and Papa John’s, Domino's has launched their new pizza "The Meatfi elder" that is packed with pepperoni, chorizo, meatballs, smoked bacon and its