2019 H2 Economics Paper 2 Essay 6: Suggested Answers
How to use these essay answers. The responses below, including the part (a) answer, are structured guides to the requirements of the question, the content, analysis and evaluation a strong answer must cover, rather than full essay prose with a written introduction and conclusion. Use them to see what to include and how to build the argument, then write it up in your own continuous prose, adding your own introduction and conclusion.
This essay explains two factors that have enabled globalisation to occur, then asks whether current global economic developments will have a positive or negative effect on Singapore's future economic performance.
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Explain two different factors that have enabled globalisation to occur. [10]
Globalisation, characterised by increased interconnectedness and the freer flow of labour, trade and capital between countries, has been facilitated by various factors. Two significant factors are technological developments and an increased willingness to work abroad.
Technological developments. The advent and proliferation of the Internet and high speed broadband have revolutionised how businesses operate, enabling instant communication and the seamless exchange of information across borders. These advances make it possible for firms to conduct business, hold meetings and manage operations globally without physical travel, so firms are more willing to invest in different parts of the world, deepening global economic integration. The widespread use of video conferencing tools such as Zoom and Skype has made international collaboration more feasible, reducing the need for costly and time consuming travel and enabling real time global interaction.
Increased willingness to work abroad. There has been a growing trend of individuals seeking employment outside their home countries, facilitated by the reduced cost of air travel and advances in communication technology. The lower psychological barrier to working abroad, thanks to the ability to stay connected with family and friends through video calls and other tools, has reinforced this. Workers are now more open to relocating for better job prospects or career advancement. The growth of expatriate communities and migrant workers in many countries, including Singapore, is a testament to this; professionals from around the globe move to Singapore for job opportunities, contributing to its diverse workforce and economic dynamism.
In conclusion, technological developments have significantly reduced the barriers to international business and investment, while an increased willingness to work abroad has contributed to the mobility of labour across borders. Together these factors have facilitated globalisation, leading to more integrated global economies and societies.
Develop two distinct, well explained enabling factors, each linked clearly to greater cross border flows, with examples.
Assess whether current global economic developments will have a positive or negative effect on Singapore's future economic performance. [15]
- Set out the macroeconomic indicators through which the effect on Singapore's performance can be judged.
- Develop the channel by which one major global development affects Singapore, with the relevant aggregate demand effect.
- Bring in the offsetting policy responses and adaptations that could cushion the impact.
- Develop the channel of a second major global development and its risks.
- Weigh the negative effects against the mitigating factors across the indicators.
- Reach a supported judgment on the net effect on Singapore's future performance.
This part is gated. The full model answer with the worked aggregate demand analysis and the assessment, with the diagrams and the full evaluation, is in the ETG TYS Answers book from SAP and is worked live in the TYS Crashcourse. ETG students also get the AI TYS coach that guides them through this exact question. Message the team to find out more.
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Where can I get the full worked answers to the 2019 H2 Economics paper 2 essay 6?
The full model answers, with the diagrams and the higher mark evaluation, are in the ETG TYS Answers book published by SAP and sold at Popular, and are worked live in the TYS Crashcourse. Every ETG student also gets the AI TYS coach on our learning management system, which guides you through how to tackle every essay and every case study question from the last ten years.
Are these the official 2019 A Level Economics answers?
No. SEAB sets and marks the A Level paper. These are suggested answers by Mr Eugene Toh, author of the H1 and H2 A Level Economics TYS answer keys, published by SAP and sold at Popular.
How should I use these suggested essay answers?
Treat them as a guide to the requirements of the question, the content, analysis and evaluation a strong answer must cover, not as full essay prose. Write the essay up in your own continuous prose, with your own introduction and conclusion.
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