Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973. EU membership has had a significant effect on Irish economic growth and development. (A) Outline three advantages to Irish business of European Union membership. (B) (i) Name two EU institutions. (ii) Explain the role of one of them. (C) Outline two effects of rising unemployment on the Irish economy. (D) Outline, using examples, two ways in which Information Technology helps Irish firms involved in international trade.

Leaving Cert Business International Trade & Marketing: Study the information supplied a

Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973 - Leaving Cert Business - Question 3 - 2008

Question 3

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Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973. EU membership has had a significant effect on ... show full transcript

Worked Solution & Example Answer:Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973 - Leaving Cert Business - Question 3 - 2008

Step 1

Outline three advantages to Irish business of European Union membership.

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Answer

Access to a larger market: EU membership allows Irish businesses to sell their products and services to a market of over 500 million consumers without tariffs.
Funding opportunities: Irish businesses can benefit from various EU grants and funding programs designed to support economic development and innovation.
Improved competitiveness: EU regulations and standards can help improve the quality and competitiveness of Irish businesses in global markets.

Step 2

Name two EU institutions.

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Answer

European Commission
European Parliament

Step 3

Explain the role of one of them.

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Answer

The European Commission plays a key role in proposing legislation, enforcing EU laws, and managing the day-to-day operations of the EU. It acts as the EU's executive arm and ensures that EU laws are properly implemented by member states.

Step 4

Outline two effects of rising unemployment on the Irish economy.

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Answer

Decreased consumer spending: As unemployment rises, disposable incomes decline, leading to lower consumer spending, which can further slow economic growth.
Increased welfare costs: The government may face higher costs associated with unemployment benefits and social services, putting additional strain on public finances.

Step 5

Outline, using examples, two ways in which Information Technology helps Irish firms involved in international trade.

97%

117 rated

Answer

Marketing and access to global markets: The internet and websites enable Irish firms to reach international customers directly, expanding their market reach without the need for physical presence abroad.
Facilitates transfer of information: Technologies such as email and video conferencing allow for efficient communication and coordination with international partners, improving business operations and collaboration.

Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973 - Leaving Cert Business - Question 3 - 2008

Worked Solution & Example Answer:Study the information supplied and answer the questions which follow: Ireland has been a member of the EU since 1973 - Leaving Cert Business - Question 3 - 2008

Outline three advantages to Irish business of European Union membership.

Name two EU institutions.

Explain the role of one of them.

Outline two effects of rising unemployment on the Irish economy.

Outline, using examples, two ways in which Information Technology helps Irish firms involved in international trade.

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