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Over the past ten years, exports have helped improve the Irish economy - Leaving Cert Business - Question 15 - 2006
Question 15
Over the past ten years, exports have helped improve the Irish economy. Explain the term ‘export’ and give two examples of Irish exports:
Worked Solution & Example Answer:Over the past ten years, exports have helped improve the Irish economy - Leaving Cert Business - Question 15 - 2006
Step 1
Explain the term ‘export’
Answer
An export refers to goods or services that are sold to other countries. This can include a wide range of products, from agricultural goods to manufactured items. Exporting plays a crucial role in the economy, as it allows countries to expand their markets and increase revenue by selling domestically produced items abroad.
Step 2
Give two examples of Irish exports
Answer
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Food and beverages: Ireland is renowned for its high-quality dairy products, meats, and beverages, especially its famous whiskey and craft beers.
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Pharmaceutical products: Ireland is a significant hub for pharmaceutical manufacturing, exporting a variety of medicinal products globally, which contributes substantially to its economy.