Economics · 2005 · November · Paper 3 · HL · Question paper
EconomicsQuestion paper2005HLNovember
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This question paper is listed under Economics in the 2005 examination archive. Its catalogue level is HL. The catalogue session is November. The information below helps you identify the document before opening the complete PDF. Subject, year and session labels come from the archive catalogue; the original cover remains the reference if a label differs. A file is not automatically suitable for your current syllabus simply because its subject name matches.
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IB DIPLOMA PROGRAMME
PROGRAMME DU DIPLÔME DU BI
PROGRAMA DEL DIPLOMA DEL BI
N05/3/ECONO/HP3/ENG/TZ0/XX
ECONOMICS
HIGHER LEVEL
PAPER 3
Tuesday 15 November 2005 (morning)
INSTRUCTIONS TO CANDIDATES
Do not open this examination paper until instructed to do so.
Answer three questions.
Use fully labelled diagrams and real-world examples where appropriate.
2 hours
8805-5103 11 pages
88055103
N05/3/ECONO/HP3/ENG/TZ0/XX
8805-5103
– 2 –
Answer three questions. Each question is worth [20 marks].
1. Study the extract below and answer the questions that follow.
Demand for chicken up after price cut
There has been a fall in the demand for chicken following the avian flu 1 scare which led to
people being afraid to eat chicken for fear of becoming ill. In response to this, chicken farmers
reduced the selling price.
Yesterday, there was a 10 per cent increase in the sales of both processed chickens and live
chickens, with some 800 000 birds sold in the market nationwide. The price cuts were agreed
upon at a meeting of the Federation of Livestock Farmers’ Association, Malaysia (FLFAM).
The FLFAM is a cartel, which sets prices for livestock sales in Malaysia. It controls 80 % of the
suppliers in the country. Processed chicken now costs only RM 2 3.20 per kg and live chicken
RM 2.80 per kg. Previously, the prices were RM 4.00 and RM 3.50 respectively.
“The response is good and we hope that consumers now realise that chicken sold in Malaysia is
safe to eat,” said a FLFAM spokesperson, adding that the industry was worried when chicken
sales dropped by 300 000 a day following the avian flu outbreak in neighbouring countries.
Some 1.1 million chickens are available daily to meet consumer demand.
The spokesperson said that the drop in prices was to overcome the excess supply of chicken in
the market, adding that poultry farmers in the country were holding an “Eat Chicken” campaign
and were considering other marketing schemes. “We will continue with the current production
of chicken,” he said, “we have decided not to reduce the supply as planned earlier when sales
dropped.”
It was feared that, if the supply were reduced, then the maximum price of
File information
Subject
Economics
Document type
Question paper
Year
2005
Session
November
Level
HL
Paper
3
Examination zone
Not labelled in the archive
Language
Not labelled in the archive
File size
354 KB
Pages
11
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