HCI_H2_ECON_CSQ_(QUES)12SEP

© Hwa Chong Institution 2011 9732 /01/S/JC2 Prelim 2011 HWA CHONG INSTITUTION JC2 Preliminary Examinations Higher 2 CANDIDATE NAME CT GROUP 10A/S CENTRE NUMBER INDEX NUMBER ECONOMICS Paper 1 Additional Materials: Answer Paper 9732/01 12 September 2011 2 hours 15minutes INSTRUCTIONS TO CANDIDATES Write your name and CT class clearly in the spaces at the top of this page and on very page 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 and tape. Answer all questions. At the end of the examination, fasten all your work securely together. You are to fasten the answer sheets to Question 1 and Question 2 separately together with the respective cover page. INFORMATION FOR CANDIDATES The number of marks is given in brackets [ ] at the end of each question or part question. You are advised to spend several minutes reading through the data 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 and 2 blank pages. [Turn over

© Hwa Chong Institution 2011 9732 /01/S/JC2 Prelim 2011 2 Blank Page

© Hwa Chong Institution 2011 9732 /01/S/JC2 Prelim 2011 3 Answer all questions. Question 1 World Copper Market Figure 1: World Prices for Copper, 2007-2010 (US$ per tonne) 2000 3000 4000 5000 6000 7000 8000 9000 10000 Jan-07 Mar-07 Ma y-07 Jul-07Sep-0 7 Nov- 07 Jan- 08 Mar-08 May-08Jul- 08 Sep-08Nov- 08 Jan-09 Mar- 09 May- 09 Jul-09Sep-09Nov-09Jan- 10 Mar-10 May- 10 Jul- 10 Sep- 10 Nov- 10 Source: adapted from London Mercantile Exchange Table 1: World Copper Mining Output, 2007-2010 (million tonnes) 2007 2008 2009 2010 Chile 6,125 5,873 5,941 5,968 Peru 1,312 1,398 1,407 1,375 United States 1,288 1,444 1,302 1,223 China 1,043 1,205 1,171 1,313 Australia 960 974 941 922 Other Countries 6,329 6,233 6,777 6,917 World Total 17,057 17,127 17,539 17,718 Source: Copper Development Association [Turn Over

© Hwa Chong Institution 2011 9732 /01/S/JC2 Prelim 2011 4 Extract 1: Uses of Copper Copper is one of the oldest metals ever used and has been one of the important materials in the development of civilization. Due to its properties, especially in its resistance to corrosion, copper has become a major industrial metal, ranking third after iron and aluminum in terms of quantities consumed. Building construction is the single largest market, followed by electronics and electronic products, transportation, industrial machinery, and consumer and general produ