Economics · 2005 · May · Paper 2 · SL · Question paper
EconomicsQuestion paper2005SLMay
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This question paper is listed under Economics in the 2005 examination archive. Its catalogue level is SL. The catalogue session is May. 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
M05/3/ECONO/SP2/ENG/TZ0/XX
ECONOMICS
STANDARD LEVEL
PAPER 2
Thursday 19 May 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
2205-5105 11 pages
22055105
M05/3/ECONO/SP2/ENG/TZ0/XX
2205-5105
– 2 –
Answer three questions. Each question is worth [20 marks].
1. Study the extracts below and answer the questions that follow.
Extract 1
ASIAN AIRLINES SUFFERED A SHARP DECLINE
IN PASSENGERS IN APRIL 2003
Passengers
carried
% Change
(over April
2002)
Cathay Pacific Airways 340 691 –66
Hong Kong Dragon Airlines 71 283 –76
Singapore Airlines 619 000 –50.5
China Southern Airlines 1 265 880 –36.5
China Eastern Airlines 744 010 –31
Korean Airlines n/a –7
Vietnam Airlines 200 000 –388
Extract 2
In just two months, the Severe Acute Respiratory Syndrome, or SARS (a serious respiratory disease)
resulted in deaths among airline passengers and caused a major demand side shock for the airline
industry which is especially vulnerable to changes in demand.
Before the SARS outbreak, aircraft manufacturers had been forecasting 8 % annual growth over the
next decade for China’s airlines. Now badly hit by SARS, several airlines have been devastated.
SARS has also affected the aircraft manufacturers. Companies have seen many orders put on
hold. “This industry is a highly competitive oligopoly right now and it’s a buyer’s market,” said a
spokesman.
Any recovery assumes that people will be quick to get back on flights once their fear of the disease
has subsided. There is almost certainly a demand, especially among business travellers, many of
whom have postponed meetings with clients and associates. Other businesses that have managed
without travelling in the region during the SARS crisis may have discovered that travelling is a
luxury they can do without.
Not all the news is bad. As the fear of SARS diminishes, major airlines may not be in a position
to win back some market share from their regional and international rivals. “The
File information
Subject
Economics
Document type
Question paper
Year
2005
Session
May
Level
SL
Paper
2
Examination zone
Not labelled in the archive
Language
Not labelled in the archive
File size
465 KB
Pages
11
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