There are more Irish consumers buying/shopping online (internet) - Leaving Cert Economics - Question 9 - 2015
Question 9
There are more Irish consumers buying/shopping online (internet).
(a) Outline two economic benefits of this development for Irish consumers.
Benefit 1:
Benefit 2... show full transcript
Worked Solution & Example Answer:There are more Irish consumers buying/shopping online (internet) - Leaving Cert Economics - Question 9 - 2015
Step 1
Benefit 1: Greater choice of goods and services
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Answer
With the increase in online shopping, Irish consumers have access to a wider variety of goods and services than what may be available locally. This allows consumers to purchase products that suit their preferences better.
Step 2
Benefit 2: More competitive prices
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Online retailers often provide lower prices due to reduced overhead costs and increased competition. Consumers can benefit from discounts and special offers that may not be available in physical stores.
Step 3
Outline one possible economic cost of this development for the Irish economy.
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One possible economic cost is the decline in domestic economic activity. As more consumers shop online, they may reduce the number of purchases made in local shops, leading to a potential decrease in sales for these businesses.
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