The Irish Economy (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What type of economy does Ireland operate?
What type of economy does Ireland operate?
Mixed economy
What can the government control to keep them fair for consumers in a mixed economy?
What can the government control to keep them fair for consumers in a mixed economy?
Prices of essential items like electricity
How do private businesses help reduce government costs?
How do private businesses help reduce government costs?
By providing services so less social welfare
What often happens to prices when businesses compete in a mixed economy?
What often happens to prices when businesses compete in a mixed economy?
Prices become lower
Why do businesses find Ireland attractive for corporation tax?
Why do businesses find Ireland attractive for corporation tax?
Tax rates are relatively low
Why does the government own certain businesses?
Why does the government own certain businesses?
To provide essential services & promote Ireland
Which essential service might the government run even if it loses money?
Which essential service might the government run even if it loses money?
Rural bus routes
What does Enterprise Ireland help Irish businesses do?
What does Enterprise Ireland help Irish businesses do?
Export products abroad
What is privatisation?
What is privatisation?
Selling govt-owned businesses to private sector
Why might the government privatise a profitable state enterprise?
Why might the government privatise a profitable state enterprise?
To raise money to pay debt or reduce taxation
What role does the entrepreneur play as a factor of production?
What role does the entrepreneur play as a factor of production?
Brings together land, labour & capital
What do not-for-profit organisations do with any surplus they generate?
What do not-for-profit organisations do with any surplus they generate?
Reinvest back into their activities