HCI_H2_ECONS_CSQs_QP

1 © Hwa Chong Institution 2018 9757/01/A/C2 Prelim 2018 HWA CHONG INSTITUTION C2 Preliminary Examinations Higher 2 CANDIDATE NAME CT GROUP 17 CENTRE NUMBER INDEX NUMBER ECONOMICS Paper 1 Case Study Questions Additional Materials: Answer Paper 9757/01 23 August 2018 2 hours 15 minutes READ THESE INSTRUCTIONS FIRST Write your name, CT group, Centre and Index numbers clearly in the spaces at the top of this page and on every page 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 and tape. Answer all questions. Begin Question 2 on a fresh sheet of writing paper. At the end of the examinat ion, fasten your answers to Question 1 and Question 2 separately. The number of marks is given in brackets [ ] at the end of each question or part question. You are advised to spend several minutes r eading through the questions before you begin writing your answers. You are reminded of the need for good English and clear presentation in your answers. This document consists of 8 printed pages. [Turn over

2 © Hwa Chong Institution 2018 9757/01/A/C2 Prelim 2018 Answer all questions Question 1: Waste Recycling Extract 1: US recyclers battered by global commodity plunge US recyclers are fighting to stay alive. Prices for new materi als have fallen so much in the past few years that recycled materials have lo st their edge in the market. Besides, some states such as California had cut their subsidies in state-run recycling programs. Global forces have put the squeeze on recyclers. Growth in China, the largest buyer for several types of recycled materials, has sl owed significantly. Beijing even erected a so- called "Green Fence," which enacted standards on imports of Americans' recycling. Add to that a strong dollar, which ma kes buying U.S. materials more expensive for customers in other countries. Meanwhile, oil prices have dropped to the lo west level in around 13 years. This is expected to have a further negative effect on t he price paid for recycled materials such as recycled plastics. As new plastics, which are produced from petroleum, become more cheaply available, manufacturers buy less recycled plastics. "Being green costs money," laments Wast e Management CEO David Steiner. "When prices are high we'll pay you to recycle. When prices are low we have to charge you," Steiner says. Sources: The Seattle Times, 5 March 2016 and Forbes, 14 September 2016 Figure 1: Price of Crude Oil Source: US Department Of Energy Figure 2: Price of Recycled Plastics Source: SecondaryMaterialsPricing.com

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