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4.  Discuss how the Singapore
government might use the concepts
of elasticity of demand and supply to
promote economic growth in
Singapore.
 Explain the concepts of price
elasticity of demand and income
elasticity of demand, indicating why
elasticities are different for different
products.
 Explain the concepts of price
elasticity of demand and
income elasticity of demand,
indicating why elasticities are
different for different
products.
 Distinguish between price,
cross and income elasticities
of demand.
TOPIC: DEMAND, SUPPLY AND ELASTICITIES
ECONOMICS RESOURCES 1

5.  Discuss the best policy option
that the Singapore government
could adopt to reduce the
adverse impact of the global
financial crisis in the year 2008.
 Using the relevant elasticity
concepts, account for
S a ’
Integrated Resorts.
 Discuss whether a surge in
inflation is more likely to
affect the domestic or external
sectors of the Singapore
economy.
 Consider whether high
household savings is always
beneficial to Singapore.
ECONOMICS RESOURCES 2
TOPIC: SINGAPORE CONTEXT ECONOMICS ESSAYS

6. TOPIC: INTERNATIONAL TRADE
 Explain the causes of a
balance of payments deficit on
the current account.
 Discuss the measures a
government should adopt to
correct its balance of payment
deficit on the current account.
 Explain why trade occurs
between developed and
developing countries.
 Discuss whether countries
should resort to trade
protectionism when faced
with an economic crisis.
ECONOMICS RESOURCES 3

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