Outline two reasons why Irish firms export goods and give two examples of Irish exports - Leaving Cert Business - Question 4 - 2011
Question 4
Outline two reasons why Irish firms export goods and give two examples of Irish exports.
Reasons:
(i)
(ii)
Examples:
(i)
(ii)
Worked Solution & Example Answer:Outline two reasons why Irish firms export goods and give two examples of Irish exports - Leaving Cert Business - Question 4 - 2011
Step 1
Reasons:
(i)
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Answer
One reason why Irish firms export goods is to increase sales and profits. By entering foreign markets, companies can expand their customer base, which leads to higher sales volumes and ultimately boosts profitability.
Step 2
Reasons:
(ii)
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Answer
Another reason is the domestic market may be too small. Many Irish companies may find that their local market does not provide sufficient demand for their products, prompting them to seek opportunities abroad.
Step 3
Examples:
(i)
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Answer
An example of an Irish export is agricultural produce such as meat, cheese, and butter. These products are highly regarded internationally and represent a significant portion of Ireland's export activities.
Step 4
Examples:
(ii)
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Answer
Another example would be pharmaceutical products, which are a major export for Ireland, making it one of the leading countries in pharmaceutical manufacturing.
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