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European Union Policy Examine how European Union Policy influences economic activity in Ireland. - Leaving Cert Geography - Question C - 2016
Question C
European Union Policy Examine how European Union Policy influences economic activity in Ireland.
Worked Solution & Example Answer:European Union Policy Examine how European Union Policy influences economic activity in Ireland. - Leaving Cert Geography - Question C - 2016
Step 1
Identify the influence of European Union Policy on economic activity
Answer
European Union Policy significantly influences economic activity in Ireland through various channels, including trade agreements, funding programs, and regulatory frameworks. One major influence is the facilitation of free trade between Ireland and other EU member states, which enhances market access for Irish goods and services.
Step 2
Examine the influence of EU funding programs
Answer
EU funding programs, such as the European Structural and Investment Funds (ESIF), play a crucial role in supporting infrastructure development and innovation in Ireland. These funds help finance key projects, thereby stimulating job creation and boosting economic growth in various sectors.
Step 3
Examine the influence of regulatory frameworks
Answer
The regulatory frameworks established by the EU ensure that Ireland adheres to common standards regarding environmental protection, consumer rights, and labor laws. This can positively impact economic activity by increasing consumer confidence and attracting foreign investment, although it may also impose additional compliance costs on businesses.
Step 4
Examine the influence of common market policies
Answer
The EU's common market policies allow for the free movement of goods, services, capital, and labor. This freedom significantly boosts Ireland's economic activity by enhancing competition and encouraging efficiency, while also enabling Irish businesses to scale and reach broader markets.
Step 5
Consider potential negative impacts
Answer
While EU policies generally benefit economic activity, they can also pose challenges. For example, stringent regulations may create barriers for small businesses attempting to enter the market or expand. Additionally, reliance on EU funding can lead to vulnerabilities if such support is reduced or reallocated.
Step 6
Conclude with an overall assessment
Answer
In conclusion, while European Union Policy provides multiple benefits that positively influence economic activity in Ireland, it is essential to also acknowledge the challenges and ensure that policies are balanced to support sustainable growth across all sectors.