SAJC_H2_ECON_P1_W_SUGGESTED_ANSWERS_AND_MARK_SCHEME

ST ANDREW’S JUNIOR COLLEGE PRELIMINARY EXAMINATIONS – 2011 General Certificate of Education Advanced Level Higher 2 ECONOMICS 9732/01 Paper 1: Case Study Questions 14 Sep 2011 2 hours 15 minutes Additional Materials: Answer Paper 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 a soft pencil for any diagrams, graphs or rough working. Do not use staples, paper clips, highlighters, glue or correction fluid. Answer all questions. At the end of the examination, fasten 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 18 printed pages. [Turn Over © SAJC 2011 Suggested Answers and Mark Schemes

© SAJC 2011 9732/01/PRELIM Suggested Answers and Mark Schemes 2 Question 1 New Formula and Glittery Growth for Singapore Extract 1: Singapore Tourism Revenue Surges on Record Visitor Arrivals The money spent by tourists visiting Singapore su rged last year after a record number of people travelled to the city-state, attracted by two new casinos amid a rebound in the global economy. Spending rose 49 percent to S$18.8 billion ($14.7 billion) last year, exceeding the government’s forecast of as much as S$18.5 billion, the Singapore Tourism Board (STB) said in a statement today. International visitor arrivals rose 20 percent to 11.6 million in 2010. Efforts to boost tourism in 2010 included the inaugural Youth Olympic Games, while the Singapore leg of Formula One, the world’s most-watched motor sport, took place for the third year. Adapted from The Straits Times, 12 November 2010 Extract 2: Sentosa IR Edges Ahead of Rival Marina Bay Sands (MBS) Genting Singapore after being awarded its casino license, continues to lead the field in what is shaping up to be an intense horse race in Singapore's booming gaming market. Yesterday, it also unveiled details of new attractions set to make Universal Studios Singapore, housed within its Resort World Sentosa (RWS), a leading theme park in the region. Popular ride Battlestar Galactica, which has been suspended from operations since March, will re-open in the first half of next year. RWS said yesterday that it is well on track to meet its visitor targets for the first year of operations – 13 million – while giving more details about its upcoming enhancements. It said that its four hotels are fully operational, and that the show Voyage De La Vie opened in July to a good response. This quarter, RWS will launch the world's largest animatronic attraction, Crane Dance, at the waterfront. Universal Studios Singapo