A holiday brochure describes your hotel as being a short stroll to the beach.

When

1.
you get to your hotel you discover you have to walk for two hours to get to the beach. Which of your
consumer rights has been violated?
Goods should be of merchantable quality

Goods should be fit for their purpose

Goods should be as described

Goods should conform to the sample

If you cannot come to an agreement with the shopkeeper about a problem with a
2.
product or service, you may have to consult:
A third party

A bank

Another shop
All of the above

You buy a new DVD player and the cover breaks within a few days. What is the first
3.
thing you should do?
Stop using the DVD player

Inform the shop

Bring the DVD player back

Try to reach agreement with the shopkeeper

If you have been sold faulty goods, you are entitled to get a full refund of your
4.
money provided you complain promptly.
true
false

When you buy something in a shop you can expect it to be of merchantable:

5.

Purpose

Quality

Description
Sample

You are entitled to a complete refund if the shopkeeper tells you the computer game
6.
you are buying will work on your computer but you find that it does not work.
true
 false

What should you mention when making a written complaint?

7.

The date you bought the product

The problem you had

The remedy you want

All of the above

If you have a dispute with a company, it is best to handle it in writing rather than by
8.
phone.
true
false

Match the consumer terms with the statements below.

9.

Caveat emptor a. Person who buys goods and services for own use

Redress b. Goods must be fit to be sold

Guarantee c. Let the buyer beware

Merchantable quality d. Written promise which adds to consumer rights

Consumer e. Form of compensation

A good form of money is durable. What does this mean?

1.

It can be broken down into small values

It can be carried around easily

It will withstand normal wear and tear

None of the above

 Which of these is legal tender?
2.

Cash

Credit card

Cheques

Laser card

What is DIRT?
3.

A tax on goods you buy in a shop

A tax on imports

A tax on income

A tax on savings

The following schemes are operated by An Post. Which of

4.
them is not subject to DIRT?

Savings Certificates

Savings Bonds

Instalment Savings

All of the above

 A current account in the bank is a good place to save
5.
money.

true

false

A standing order is a handy way to pay bills like a car loan

6.
repayment, which occurs regularly and where the amount does not
vary.

true

false

What is the best description for an entrepreneur?

2.

Manager

Risk taker

Lazy person

Employee

When interest rates are low there is no incentive to

3.
save.

true
 false

Match the following factors of production with an

4.
explanation.

Land a. The natural resources in the country

Labour b. The people available to do work

Capital c. Taking an idea and turning it into a business

The money needed to run a business

Enterprise d. 66009,66011,660 66010,66012,660

Match the following factors of production with the

5.
appropriate reward/payment.

Land a. Rent

Labour b. Interest

Capital c. Wages

Profit

66017,66019,660
Enterprise d.

66018,66022,660

GNP stands for gross national

6.
 product

price

place

Match the items listed below to the factors of

8.
production.

Shareholder a. Enterprise

Water b. Capital

Employees c. Labour

Land

66039,66033,660
Machinery d.

66040,66038,660

Which three of the following are Irish economic

9.
resources?

Natural gas

Gold

Oranges

Wood
 Coffee

Fertile land

Match the following words and phrases with the correct

10.
explanation.

Inflation a. Rising prices

Scarcity b. This is paid to people for the use of their land

Labour c. When there is not enough of something

Rent d. Things used to create wealth

The human resources needed to make

Resources e.
something

Which of these is an invisible import for Ireland?

1.

An American tourist visiting Ireland

An Irish person taking a foreign holiday

Cars imported into Ireland

Machinery imported into Ireland

The balance of trade records visible imports and exports.

2.
 true

false

The visible imports for a country are 35 million, visible

3.
exports are 55 million, invisible imports are 20 million and invisible
exports are 6 million. What is the balance of payments?

A surplus of 6 million

A surplus of 47 million

A deficit of 33 million

A deficit of 63 million

Which country is the principal source of Irish imports?

4.

Germany

France

Great Britain

United States

What is the rate of exchange?

5.

The rate charged by the bank on loans

The change received at a checkout

 The value of one currency compared to another

The rate paid by the bank on deposits

Which four of the following countries are in the EU?

6.

China

Malta

USA

Poland

Latvia

Italy

Argentina

India

What is the legal tender in each of the following countries?

7.

Italy a. Euro

UK b. Pound sterling

USA c. Dollar

Japan d. Yen
 66104,66098,661 66105,66099,661

Mary O'Flaherty, who lives in Galway, has ordered a camera

8. from a company in England. It costs 180 (Sterling) plus a 21.50

delivery charge. The current exchange rate is 1 = 0.65. What is the
total cost of the camera in euro?

276.92

310.00

117.00

130.98

Ken purchases some DVDs on eBay for 36 sterling. He goes

9. to the bank to change his euro into sterling and sees a sign which quotes
that the bank sell rate for sterling is 0.64 and the bank buy rate is 0.72.
How much will Ken pay for 36 sterling?

56.25

50.00

25.92

23.04

Match goods and services to the categories.

10.

Irish people going on holiday to Spain a. Visible export

 Irish lobster sold in Paris b. Visible import

Earnings by Irish bands on a world tour c. Invisible export

Mercedes cars sold in Ireland d. Invisible import

Which of these do you put in a business plan?

1.

Management

Marketing

Finance

All of the above

Which of these would be in the marketing section of a

2.
business plan?

The source of funds

The suppliers of raw materials

The responsibilities of each manager

The age of consumers

Which of these could be used to prepare a cash flow?

3.

A database

A spreadsheet
 A word processor

Profit is not the same as cash.

4.

true

false

What do you call a business with a temporary shortage of

5.
cash?

Cash flow

Cash starved

Bankrupt

All of the above

What can a business do to plan for cash shortages?

6.

Ask for payment in instalments

Try to buy materials on credit from suppliers

Negotiate an overdraft with the bank manager

All of the above

 Match the four headings with a relevant part of a business
7.
plan.

Marketing a. The competitors

Management b. The source of funds

Finance c. The labour requirements

The experience of the managers

Production d. 66150,66148,661 66151,66153,661

A cash is a plan of company receipts and

8.
payments.

A company has total receipts of 7,900 and total payments

9.
of 6,620. If the opening cash is 950, what is the closing cash?

1,280

330

950

2,230

Match the following words and phrases.

10.

Overheads a. Those in charge of a firm

 Finance b. Money needed to run a business

Instalment c. Costs of running a business

Management d. Paying part of a debt

What are the minutes of a meeting?

A description that shows the progress of a project

A list of items that will be discussed at the meeting

Slides and charts with the latest sales figures

A written record of what was said or agreed actions

Who keeps the minutes of a meeting?

2.

The chairperson

The secretary

The treasurer

None of the above

What is an agenda?
3.

A short, informal note

A list of items that will be discussed at a meeting

 A trading document which gives details about the price of goods

A report that gives details about the progress of a project

Which of these is operated by An Post?

4.

Fax

Freepost

Internet

Freefone

Match the following types of communication with a form of

5.
communication.

Bar chart a. Visual

Telephone calls b. Written

Oral

66237,66233,662
Report c.

66238,66236,662

Which two of the following are internal forms of

6.
communication?

Business reply service

 Intercom

Fax

Notice board

Which two of the following are visual forms of

7.
communication?

Bar chart

Report

Telephone

Letter

Line graph

Meeting

Motor tax is a fixed cost.

true
false

Which of these does not change with the amount of driving done during the year?
2.

Petrol

Toll charges

Insurance premium
All of the above

Irelands busiest port is:

3.

Dublin

Rosslare

Dundalk
 Cork

If the annual van insurance premium is 750 and the company is open 250 days a
4.
year, what is the daily insurance cost?
1,000

750

250
3

Paul drives a delivery truck. On May 9 he drove from Sligo to Roscommon

5.
(84km). He then drove from Roscommon to Galway (78km). Then he drove from Galway back to
Sligo (138km). Calculate the total number of kilometres that Paul travelled that day.
200

300

400
500

If Paul travelled at an average speed of 50km per hour, calculate how many hours'
6.
driving he completed that day.
3

5
6

A van travels 240km and uses a litre of diesel every 15km. Calculate how many
7.
litres of diesel are used.
15

16

17
18

A delivery van uses 22 litres of diesel. If the price of diesel is 1.19 per litre,
8.
calculate the total cost of diesel used.
22.19

27.14

26.18
 24.13

Which of these is a variable cost for a delivery van?

9.

Insurance

Motor tax
Diesel

Over short distances road transport is cheaper than rail transport.

10.

true

false