Tuition Center Singapore JC H2 H1 Econonics Tuition -Demand and Supply and Concepts of Elasticity

2007 – 2014 A level H2 Economics compilation of Essays Questions

TYS N2014

In 2012 the UK had very poor harvests for grain and potatoes, which are major ingredients of many of the foods of UK consumers and also provide feed for much of Britain’s livestock. At the same time there was a decline in the real incomes of many UK citizens, especially those on low incomes.

Using economic analysis, discuss the impact these events are likely to have had on UK consumers and farmers. [25]

TYS N2013

The Urban Redevelopment Authority (URA) announced that prices of private residential properties in Singapore rose by 1.3% in the third quarter of 2011, but the rise in the prices has been slowing for eight consecutive quarters. At the same time it reported that the total supply of new private residential properties nearing completion was at a record high.

Source: http://www.ura.gov.sg/pr/text/2011/pr11-135.html, accessed 28 October 2011

Discuss the different supply and demand factors and their likely importance in determining the reported changes in the prices of private residential properties in Singapore. [25]

TYS N2012

Most brands of cars are available in different models. A large rise in the cost of car manufacture and a rise in incomes are likely to affect the sales of various models of car in different ways.

• Explain how elasticities of demand can assist in understanding the effect of each of these changes on the sales volume of different models of car. [12]
• Compare and contrast the likely combined impact of both these changes on the revenue earned from the sales of different models of car. [13]

TYS N2011

Singapore is facing an ageing population issue. By 2030 senior citizens are expected to comprise almost 20% of the population.

Using economic analysis, discuss the likely effects of this demographic change on product markets in Singapore. [25]

TYS N2010

The price of sugar, an ingredient in many canned soft drinks, dropped dramatically by 32% between July 2006 and October 2008. Healthy living campaigns meant consumers became more aware of the possible health dangers of consuming too much sugar and they switched to ‘diet’ drinks that do not contain sugar.

Discuss how the combination of the fall in the price of sugar and the healthy living campaigns might affect expenditure by consumers on non-diet and diet canned soft drinks. [25]

TYS N2009

There have been large changes in the price of crude oil over the past few years.

Discuss what determines whether consumers or producers are more likely to bear the cost of these oil price changes. [25]

TYS N2008

Developments in modern technology, such as faster broadband internet connections, portable DVD players, iPods and MP3 players, have had major impacts on the demand for and supply of recorded music and associated products.

Assess how the markets involved might be affected by these developments. [25]

TYS N2007

In 2005 the rate of Goods and Services Tax (GST) in Singapore rose from 3% to 5%. Incomes rose by approximately 4.5% in 2005.

• Explain the likely impact of this change in GST on expenditure by consumers on different types of goods. [10]
• Discuss whether the combined effect of the rise in incomes and the rise in GST is likely to cause the quantities of different types of goods sold to rise or fall. [15]

Please contact Angie @ 96790479 or Mr Ong @ 98639633 if you need tuition in A Level/jC H2 H1 Economics Tuition