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Mary and her husband John live in Lanesboro, Co - Junior Cycle Business Studies - Question 18 - 2019
Question 18
Mary and her husband John live in Lanesboro, Co. Longford. Mary is a pilot with Ryanair. Her husband John is currently unemployed, but volunteers in the local commun... show full transcript
Worked Solution & Example Answer:Mary and her husband John live in Lanesboro, Co - Junior Cycle Business Studies - Question 18 - 2019
Step 1
Differentiate between volunteering and employment by answering true or false to each of the following statements.
Answer
- An employee is entitled to a fair day's pay: True
- A volunteer gets paid: False
- An employee has legal rights: True
- A volunteer must have a third level qualification: False
Step 2
Outline the benefits of volunteering for John.
Answer
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Volunteering will boost John's personal satisfaction, moral, and well-being.
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It will enhance his CV, potentially improving his job prospects in the future.
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He can gain valuable experience and learn new skills.
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By interacting with diverse groups, John may develop respect and tolerance for other beliefs.
Step 3
Outline two rights and two responsibilities Ryanair has as an employer.
Answer
Rights as an employer:
- To run the business as they see fit within employment legislation.
- To hire the most suitable and qualified people for vacancies.
Responsibilities as an employer:
- To pay a fair day's pay for a fair day's work.
- To treat all employees equally and not discriminate in any way.
Step 4
Using the details provided, complete Mary's payslip for 31/05/2019.
Answer
Payslip
Employee Name: Mary Brennan
Date: 31/05/2019
Earnings
- Basic Wage: €7,000
- Overtime: €600
- Gross Pay: €7,600
Deductions
- PAYE: €3,040 (calculated as €7,600 × 40% - €275)
- PRSI: €304 (calculated as €7,600 × 4%)
- USC: €418 (calculated as €7,600 × 5.5%)
- Total Deductions: €3,487
Net Pay: €4,113
Step 5
Step 6
Explain the impact of the above trend in unemployment on individuals like John and on the economy.
Answer
Impact on individuals:
- Earning a regular income will help individuals like John to pay bills.
- It will provide more disposable income, enabling individuals like John to buy luxury goods.
Impact on the economy:
- There will be an increase in tax revenue for the government.
- The Irish Government would need to spend less on social welfare payments for the unemployed.
- There could provide more funds for an increase in capital spending by the government.