Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Irish farmers selling beef in the UK - Leaving Cert Economics - Question 2 - 2014
Question 2
Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Irish farmers selling beef in the UK.
Irish rugby supporters travell... show full transcript
Worked Solution & Example Answer:Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Irish farmers selling beef in the UK - Leaving Cert Economics - Question 2 - 2014
Step 1
Irish farmers selling beef in the UK.
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Answer
This statement refers to visible exports, as the beef is being exported from Ireland to the UK.
Step 2
Irish rugby supporters travelling to France.
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Answer
This is considered an invisible export, as the service of travel is being provided to the supporters.
Step 3
Americans using Aer Lingus to travel to Ireland.
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Answer
This is categorized under visible imports as the Americans are traveling to Ireland, bringing their spending power into the Irish economy.
Step 4
Irish consumers buying Abercrombie hoodies from USA on-line.
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Answer
This falls under invisible imports, as the purchase of goods from a foreign online retailer represents an import of products.
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