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JC1 H1 MYE Revision Package 2011

JC1 H1 MYE Revision Package 2011

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Pioneer Junior CollegeJC1 H1 Economics 2011Mid-year Revision PackageEssays
1.Analyse the factors that would affect the price of Starbucks coffee.[12]
2.
 Analyse the factors that would affect the price of personal computer.[12]
Case Studies
1.
2009 GCE A Level Exam for H1, P1 Section A, Q1 – The Growth of Air Travel
2.
2010 ACJC Preliminary Exam for H1, P1 Section A, Q1 – Ukraine’s Steel Industry
3.
2010 NYJC Preliminary Exam for H1, P1 Section A, Q1 – Alcohol consumption
Instructions to students:
Revision Lecture
in Term 2 Week 10 (23 May 11 to 26 May 11) –
-
 All lecture groups would be discussing the 1
st
case study above ie
2009 GCE ALevel Exam for H1, The Growth of Air Travel
Please make good use of these 2 weeks to revise this H1 subject, in preparation for theMid-yr Exam. This Revision Package is meant to help you consolidate your content andskills needed for this exam. Hence attempt/practise these questions before referring tothe answers provided in the E-portal on a later date.
1
 
2
Section A
 Answer 
all
questions in this section.
Question 1 The Growth of Air TravelExtract 1: Growth in air passenger numbers
In 2005 the International Air Transport Association (IATA) reported as follows.Current situation2004 has seen a 30-year high in global GDP growth, and international air passenger traffic in thatyear increased by 15.6%. This growth continues to be driven by a combination of above-trendglobal economic growth and strong price competition - the latter an enduring feature resultingfrom further deregulation and new entry of low-cost airlines, With substantially higher fuel costs,however, 2005 will be the fifth consecutive year of heavy financial losses for the airline industryworldwide.OutlookThe International Monetary Fund (IMF) expects global economic growth to be close to, or above,its long-run trend over the period 2005-2009. Higher oil prices are expected, as well as continuingderegulation in the airline industry, and greater competition from low-cost carriers. The forecasts,based on the airlines' own expectations, show an annual average growth rate of 5.6% for international air passenger traffic between 2005 and 2009, with the profile of growth verygradually declining over the period. Growth is expected to be greatest in Asia and the MiddleEast, in line with strong regional economic growth, and lower in the more mature North Americanand European markets.Source: IATA Passenger Forecast 2005-2009, www.iata.co.uk, October 2005
Figure 1: World Economic Growth and International Air Passenger Growth, 1994-2009
World Economic Growth vs International Air Passenger Growth,1994-2004 (actual) and 2005-2009 (forecast)Source: IATA Passenger Forecast 2005-2009, www.iata.co.uk, October 2005
Extract 2: Asian budget airlines set for huge growth
 Asia's budget airlines are poised for huge growth as cheap fares and new planes attract millionsof passengers who have more money to spend on travel and leisure. Budget flights havemultiplied in the region, following a similar trend in the US and Europe, as firms such as
@ UCLES & MOE 20098819/01/0/N/09
1.2009 GCE A Level Exam for H1, P1 Section A, Q1 – The Growth of Air Travel 
 
Malaysia's AirAsia, Australia's Virgin Blue and Singapore's Tiger Airways aim to exploit Asia'sgrowing wealth. Such carriers undercut prices at major airlines by using aircraft more frequently,packing in more seats, selling tickets directly via websites rather than travel agents and cutting in-flight services. Passenger traffic in Asia-Pacific now accounts for 32% of the global market.Source:
Bahrain Tribune,
8 October 2007
Extract 3: The Big Green Dilemma
Never before has flying been so controversial. The environmental damage done by planes is now aheadline-grabbing issue.Furthermore, aviation is booming. Today there are around 17 700 commercial aircraft in theworld, and manufacturers expect to deliver 25 600 new ones in the next twenty years, withmassive growth coming from China, India and Russia as economies develop and flying isderegulated. This year there will be 2.2 billion air passengers worldwide, and the total is currentlygrowing by 4% a year, according to industry forecasts.No one disputes that flying causes carbon emissions, as well as other consequences such asnoise pollution for those who live near airports. According to the 2006 Stern Report, flyingaccounts for 1.7% of all global greenhouse gas emissions - but power stations account for amassive 24% and other forms of transportation (shipping, train and road) for 12.3%. At the sametime, there are benefits from flying - for example, tourism worldwide employs around 230 millionpeople and generates 8-10% of world GDP. Flying is not always the worst choiceenvironmentally, and it is very complex to analyse how different forms of transport compare,though it is suggested that flying is generally about nine times worse than taking the train andthree times worse than a car with two passengers.So should we stop flying? If no one set foot on a plane again, it would undoubtedly help to stopclimate change - though at the expense of killing off the tourism-based economies of many of theworld's poorest countries. But in the real world, we have to take a more sophisticated approach tohow we as consumers can help the environment. We can encourage aircraft makers to prioritiseenvironmental performance by choosing to fly with airlines that use less polluting aircraft. We cantravel to destinations that help local communities rather than destroy them, take the train wherepossible, reduce carbon'emissions at home, and, above all, persuade politicians to tackle issuessuch as deforestation and switching to greener forms of energy.Source:
The Observer, 1
July 2007
Questions
(a)
 
Using Figure 1:(i)summarise the trends in international air passenger growth 2000-2004;[2](ii)compare these trends with the forecast trends for 2005-2009.[2](b) With the help of a supply and demand diagram, explain the likely impact of both globaleconomic growth and the entry of low-cost airlines on the market for international air passenger travel.[6]
@ UCLES & MOE 20098819/01/0/N/09
[Turn over 
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