Photo AI
Outline two benefits of local business for a local community - Leaving Cert Business - Question 1 - 2014
Question 1
Outline two benefits of local business for a local community. (i) (ii)
Worked Solution & Example Answer:Outline two benefits of local business for a local community - Leaving Cert Business - Question 1 - 2014
Step 1
(i) Employment/jobs
Answer
Local businesses create direct employment opportunities within the community. This not only provides jobs for local residents but also strengthens the local economy by ensuring that salaries are spent within the community, thus promoting further business growth and sustainability.
Step 2
(ii) Increased disposable income
Answer
By providing employment, local businesses contribute to increased disposable income for community members. As disposable incomes rise, residents are more likely to spend money on local services and goods, which further encourages local business development and stimulates the economy.