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Discuss the importance for Ireland of any two of the following EU policies: (i) Competition Policy; (ii) Common Fisheries Policy (CFP); (iii) Common Agricultural Policy (CAP); - Leaving Cert Business - Question C - 2010
Question C
Discuss the importance for Ireland of any two of the following EU policies: (i) Competition Policy; (ii) Common Fisheries Policy (CFP); (iii) Common Agricultural ... show full transcript
Worked Solution & Example Answer:Discuss the importance for Ireland of any two of the following EU policies: (i) Competition Policy; (ii) Common Fisheries Policy (CFP); (iii) Common Agricultural Policy (CAP); - Leaving Cert Business - Question C - 2010
Step 1
Discuss the importance of Competition Policy for Ireland
Answer
The EU's Competition Policy plays a crucial role in maintaining a fair market in Ireland. It ensures that Irish consumers benefit from a variety of suppliers, fostering competition which leads to better quality and lower prices. By restricting anti-competitive practices such as cartels and abuse of market dominance, the policy empowers smaller businesses to compete, thus preventing larger firms from monopolizing the market. Additionally, it enhances innovation as firms are incentivized to differentiate their offerings to gain consumer attention. Ultimately, this policy helps to protect consumer interests and promotes a dynamic economic environment.
Step 2
Discuss the importance of Common Agricultural Policy (CAP) for Ireland
Answer
The Common Agricultural Policy (CAP) is vital for Ireland's agricultural sector, providing financial support to farmers and ensuring a stable income, particularly for those facing unpredictable market conditions. CAP promotes sustainable agricultural practices and rural development, which are essential for maintaining the countryside and promoting biodiversity. It also helps to ensure food security by stabilizing prices and providing mechanisms for farmers to sell their products in competitive markets. In the context of EU membership, CAP funding has been instrumental in modernizing Irish agriculture, ensuring that farmers remain competitive within the broader European context.