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Sean is employed by Comptech Ltd selling computer software - Junior Cycle Business Studies - Question 6 - 2016
Question 6
Sean is employed by Comptech Ltd selling computer software. He is paid a basic wage of €400 per week plus 3% commission on his weekly sales in excess of €2,000. His ... show full transcript
Worked Solution & Example Answer:Sean is employed by Comptech Ltd selling computer software - Junior Cycle Business Studies - Question 6 - 2016
Step 1
Calculate Sean's gross pay last week.
Answer
To calculate Sean's gross pay, we first identify his basic wage and the commission earned.
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Basic Wage: €400
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Sales last week: €6,280
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Sales in excess of €2,000: €6,280 - €2,000 = €4,280
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Commission: 3% of €4,280 = €128.40
Therefore, Sean's gross pay is:
= Basic Wage + Commission = €400 + €128.40 = €528.40
Step 2
Explain the term 'basic wage'.
Answer
The term 'basic wage' refers to the amount of money that an employee earns for working a standard, contracted work week without any additional benefits or bonuses. It represents the fundamental salary paid to an employee before the application of overtime, bonuses, or any deductions.
Step 3
Outline three responsibilities Sean has to his employer.
Answer
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Respect for Employer's Property: Sean must be respectful of his employer's property and reputation, ensuring that he does not engage in bullying.
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Following Instructions: He must follow the instructions given by his employer, cooperate with colleagues, and comply with health and safety regulations.
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Punctuality and Confidentiality: Sean must be punctual at work and maintain confidentiality regarding any business matters.
Step 4
Explain, with an example, how 'work' differs from 'employment'.
Answer
Work refers to any activities that require effort, whether paid or unpaid, such as volunteering or household tasks. For example, helping a neighbor with gardening is considered work but not employment. Employment specifically refers to a situation where a person is compensated for their labor in exchange for an occupation, such as a salaried job.
Step 5
Explain the difference between 'hardware' and 'software'.
Answer
Hardware consists of the physical components of a computer system, such as the monitor, keyboard, and printer. Software, on the other hand, refers to the programs and applications that run on computer hardware, providing instructions for what the hardware should do, such as spreadsheets or word processing software.
Step 6
Explain two reasons why Sean might want to become self-employed.
Answer
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Greater Job Satisfaction: Sean may seek greater satisfaction in his work by being his own boss, making all decisions, and managing his time more flexibly.
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Profit Retention: As a self-employed individual, he can retain all profits earned, as opposed to sharing them with an employer.
Step 7
Explain two risks of being self-employed.
Answer
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Financial Risks: Sean could lose personal assets if his business fails, as he has unlimited liability as a sole proprietor.
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Health and Social Risks: He may face long working hours which could lead to stress and negative social outcomes due to decreased work-life balance.