One of the main economic aims of the Irish Government is to reduce the number on the Live Register - Leaving Cert Economics - Question 6 - 2012

1. Increased standard of living: A reduction in the number of individuals on the Live Register would lead to more people gaining employment, resulting in a higher disposable income for families. This boosts consumption and enhances the overall standard of living.

2. Government Finances: Fewer individuals on the Live Register translates to reduced social welfare payments, which alleviates the burden on government finances, allowing for increased public investment in other essential services.

1. Control Inflation: The government aims to maintain stable prices to ensure that inflation remains manageable, thus preserving purchasing power for households.

2. Encourage Exports: By promoting a competitive environment, the government looks to increase export levels, aiding in economic growth and job creation.

3. Improve Infrastructure: Allocating resources towards infrastructure development is crucial for enhancing public services, transport, and overall economic activity.

Infrastructure refers to the fundamental facilities and systems that serve as the backbone of an economy. This includes transportation systems (roads, bridges), utilities (water supply, electricity), and public services (schools, hospitals) essential for the smooth functioning of the economy.

1. Reduced Government Borrowing: The decrease in capital expenditure can help the government manage its debt more effectively by lowering national debt repayment obligations.

2. Postponement of Development Projects: Essential infrastructure projects may be delayed, which can hinder economic growth in the long term, as projects like the Metro North are put on hold.

3. Employment Depressed: Reduced capital spending may lead to job losses in the construction sector, creating a ripple effect on employment and potentially increasing the number of people who are unemployed.

Opportunity cost is the concept in economics that describes the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Essentially, it is the cost of forgoing the next best alternative when making a decision.

Individual households benefit from energy grants as they can reduce their energy consumption, leading to lower utility bills. Improved insulation and energy efficiency not only enhances living conditions but also increases disposable income, allowing for increased spending in other areas.

For businesses, such grants can lead to an increase in demand for energy-efficient products and services. This, in turn, creates new revenue streams, enhances profits, and fosters innovation as companies develop and market new technologies to meet the demand for improved energy performance.

At the macroeconomic level, these grants contribute to increased economic growth. Government spending on energy improvements drives demand for related industries, thereby potentially increasing VAT revenues. Additionally, improved energy efficiency reduces national energy consumption, enhancing overall economic stability and reducing environmental damage.