singapore turns independent
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8/8/2019 Singapore Turns Independent
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SingaporeTurns
Independent
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Application
How are the concepts of scarcity, choice and opportunity costrelevant to what you have just done?
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Application
Problem faced by the Island of
Singapore :
Scarcity
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Application
Resources are limited :
8 buildings
10 km of roads
5 km of expressways
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Application
Wants are many :
Worship
Education
Trade
Housing
Recreation
Transport
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Application
Problem of Scarcity :
Not enough resources for infrastructural
development i.e. buildings & roads.
Choice :
Need to allocate resources among
competing uses for the satisfaction of consumers' wants.
Choose between alternatives.
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Application
Opportunity Cost :
Cost of something attained in terms of
next best alternative foregone.
Goal :
Choose that particular assortment of
routes with the objective of gaining thehighest level of satisfaction at the least
possible cost.
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Application
How ? :
Economic method - to weigh the costs
and benefits of each alternatives and to
choose the one that gives the greatest
net benefit Cost of something attained in
terms of next best alternative foregone.
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Application Ranking :
Deciding which criteria is more important / less
important depends on values of society value judgement (normative economics)
Ranking and choice depend on various factors:
Degree of dependence on international trade
Structure of the economy - is it more dependent
on primary goods, manufactured goods or tourism?
Population density
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But don·t be stuckin the past«
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33%
Commerce
Others27%
Fin Services
4%Biz Services
7%
Tpt & Comms
14%
Construction3%
Manufacturing12%
2003 GDP
S$159 b
1960 GDPS$ 2.1 b
Economic Transformation
O 20%
Transport &
Communications, 11%
Wholesale & Retail
Trade, 13%Manufacturing, 26%
Financial Services, 12%
Business Services,
13%
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From the labour-intensive 60s«
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1960s 2000s1980s
Labour Intensive
apital Intensive
Technology Intensive
KnowledgeIntensive
IndustrySophistication
Value-Added
Skills Intensive
1970s 1990s
Economic Transformation
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Transport
Engineering
Electronics
hemicals
Biomedical
MANUFA TU ING
Supply- hain Mgmt
Healthcare Services
HQ Business Services
Financial Services
Engrg Env ServicesEducation Services
SE VI ES
Twin Pillars of GrowthTwin Pillars of Growth
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S*BIO
Biomedical Sciences
± Eli Lilly & Novartis: Corporate R&D Centres
± 6 of the World¶s Top Pharma companies manufacturing in Singapore
±Top talents include Sydney Brenner, Alan Colman, Edison Liu, Yoshiaki Ito
ProductProcess
Development
Basic linicalesearch
Marketing
Full-scaleManufacturing
HealthcareDelivery
egionalHQ
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Chemicals
JU NG ISLAND: Integrated World lass hemicals Hub
70 Manufacturing Plants
US$12 Billion of Investments
Singapore EDB
il Gas PetrochemicalsSpecialty
hemicals
Whole Value hain in Singapore
3rd Largest efining and Petrochemicals entre in the World
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Electronics
>30 of world HDD output
>55% of world server-HDD output
34 I Design 18 Assembly Test
Key Semiconductor luster in Asia
13 Wafer Fabs
Hard Disk Drive apital of the World
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World¶s #1 inJack-up il igs
Largest AviationM entre in
Asia
Largest LNGVessel epairer
in Asia utside of
Japan
Transport Engineering
Design, Build epair HubDesign, Build epair Hub
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100,000 more full-time
international students
100,000 more corporateexecutives
Education Services
SingaporeSingapore ±±The GlobalThe Global
SchoolhouseSchoolhouse
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60% of 7,000 foreign companies have HQ activities1/3 of Fortune & Global 500 have substantial HQ activities
HQ & Business Services
BiomedicalSciences
LogisticsTransport
Engineering Services
etail/ estaurants
InfocommsMedia
ElectronicsPrecision Engrg
hemicals
Hospitality
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Regional Logistics enter
Managed by aterpillar Logistics
Supply-Chain Management World¶s Busiest ontainer Port World¶s Best Airport
entre for Procurement, Logistics and Distribution
Expanded storage capacities in Singapore
Asia PartsDistribution entre
Managed by
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Infocomms & Media Hub
DigitalAnimation
Game Development
ontent reation
Business ontinuity entres
19 International Broadcasters Here
Data entres
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