Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Expenditure of Irish soccer supporters having travelled to Austria - Leaving Cert Economics - Question 4 - 2017
Question 4
Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Expenditure of Irish soccer supporters having travelled to Austria.
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Worked Solution & Example Answer:Indicate by means of a tick (✓) the category to which each good or service belongs:
Statement
Expenditure of Irish soccer supporters having travelled to Austria - Leaving Cert Economics - Question 4 - 2017
Step 1
Expenditure of Irish soccer supporters having travelled to Austria.
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Answer
This represents invisible imports as it involves Irish citizens spending money abroad on services.
Step 2
Irish firms selling cheese in Germany.
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Answer
This is categorized as visible exports since it involves Irish goods being sold to a foreign market.
Step 3
Foreign tourists using Ryanair to travel to Ireland.
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Answer
This should be marked as invisible exports, as it involves foreign tourists spending money on services provided by Irish companies.
Step 4
Irish consumers buying cars in the UK and bringing them back to Ireland.
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Answer
This falls under visible imports, as it involves importing goods into Ireland from another country.
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