(w) Identify two reasons why people Volunteer, pezsok question 17 Employment blow for midlands as Bord na Ména announces 430 job losses Midlands communities have been dealt a major blow after Bord na Ména announced 430 j lasses as it winds down its peat business. All the redundancies will be voluntary and ai a peoffered an exit package. There is no time frame for the plan as this will be negotiated with unions - but the company wants as many redundancies as possible over the next year. The plan is part of the company’s transition from peat harvesting as.it moves towards decarbonisation of the fuel sector over the next decade. The job losses are the result of a dramatic shift from peat production to more environmentally friendly forms of energy. The Department of Communications, Climate Action and Environment said it remains committed to the company. Adapted from www.independent.ie (4 (i) Outline one negative impact of the job losses at Bord na Ména on each of the following: Employees of Bord na Mona: [pc ok vatome, cedluchoo ia_liviny Gandards and 1 Git Je ford nether Local community in the midlands: (| (a Aor IN. (ivy dando hig & WS ereywy to be z led) usinose? (uchion io _plrkcls luc muy ssbb e SIT de to hl Ireland's economy: | es _yfcofta tuk fas mplayer an nee t overt mand f \ YA ETaN (il) Bord na Ména is a semi-state company and is part of the Public Sector. Na e other semi-state companies and identify what products/services they Provide Semi-state company Product/service a Bord na Ména Peat 1 a bu Cireumn {consol Ke Erderlaan ard (ii) The Department of Communications, Climate Action and Environment is FesPonsibe for communications, climate action, environment, broadcasting, energy, Natural Fesources and postal services. One responsibility of this department is to deliver high-speed broadband services to all premises in Ireland. State one benefit of high-speed broadband to each of the following: ge SEE Businesses: vusdS oo (iv) dentify two government departments (other than the Department of Communications, Climate Action and Environment) and outline their roles, Department Role Degas Prouidas hosprt + Sug ol) Weallh + hatdeaea “s “ye = Depotnwd | Preades education ond Arasaiy Clad ad on stheds. J Sus 84y i stainable forms of energy producti two alternative sust ction that h: ie could use to replace peat, ouseholders or pl pusiness DY } d John Norton has worked at Bord na Ména for 30 years and is planning to take voluntary redundancy. With the redundancy payment he would like to set up his own business. (i) State two benefits of being an entrepreneur. | y iyo cu__( eee aa) a car Mal all ie decisions im hs business | / | (ii) State one risk of being an entrepreneur. | A rick of hung an arcdecprentiiur 6 fed you sey love She “Avondy yas ned She uuaoss Lic Goby Webel de> sfzhkn | eS [ttt>, gern i he has just completed a degree in ¢ ‘ in her early twenties and she has j i te ompy Se slob Facebook She ts eesti © hair work ands cone Sy She is al , x ’ he high costs of living there, despite having a generous starting salary with an annual iS x the NS 0 €48,000. i inditure to see how s Sinéad has decided to plan her monthly income and exper he-can my financial resources, : In her previous part-time and summer jobs she has always saved aon ef ret nek Pay in her re : union and she wants to increase this to 25% as she wants to save a leposit to buy her own ns ve — creed 4-5 Grand Canal Square (a) (i) Explain the following terms, [see A (onus Nome gol on ad a tobe ST cewuless dt has worked Net pay: [acon after deduidiong |efxs poy = Fula teludions(i) (iii) calculate Sinéad’s planned income per month. Show you provided below "workings clearly in the space sinéad’s income per month will be:t_\i OOO calculate Sinéad’s planned monthly savit , below. 'Y savings. Show your workings in the space provided Workings A\000 ey | es] Sinéad’s planned monthly savings will be: 87oN (b) _spartof her plan, Sinad is examining her planned monthy expendtu re, Which in the table below. Categorise Sinéad’s spending in the spa following headings: | 1, Fixed expenditure 2. Irregular expenditure ce provided in the table ty Using aad | 3. Discretionary expenditure | TEM cost i MontH |. caTeGoRy (Fixed, Irregular, Dict, | Mobile phone 5] (C (uber | ae 250 p isu alonary Groceries 225 leg whol Rent 1500] Fixed Wii 40) \r tespales | Electricity 60 Urveqter Gas 50 {eva aol Carloan oo} xed | r Car insurance/motor tax roo | Pe s Clothes/shoes 280 ‘ aga Holiday fund 150 | f) yarn Petrol 100 anal 5 88id (i) show the totals for each category in the Jow to sh it oy Pr space bel }Ow your workings clearly, Vided in the table below. Use the Category Fixed expenditure irregular expenditure Planned Spending Per Month 1$00 42095, O- LSE DIG Wt GOL, ss Discretionary expenditufe Total planned expenditure Workings ASO ISD EUS 'RO0+ WOW = 6 2 SOSH (00. fq io : a raw a bar chart toilustrate Sinéad’s spending per month for each category of expenditui ture. et - gl 12, Sinead planned _ willbe 89 GTC)(iii) Sinéad has discovered that the rate of inflation is rate offered in her local credit union. What effe deposit for a house? ' Currently higher than All thi then te ‘ct will this have on her go"! hey te SBVingg Ma 90Section a etal questions. ve oso equal marks. | ve a jon , ig needs and one possible resource available to meet the needs ofa retired couple who a | Food | Clothun, ce en Wh oye pension -— ekrnhn Visit www.e-xamitie fon 2 sgreastate owned business involved in each ofthe following activites: - [ransport c | Dudun Rus 5 4 rey f vo: 5 : Log (for nasty ord bars 3 2 Fy tonmunications ; 8 toy custon 3 (his is a head chef in The Mill Park Hotel. Indicate with a tick (v) whether each of the following ittvitie is considered employment, work or volunteering for Chris. Employment Work | Voluntary work Nakinga meal at his house to celebrate ez ‘daughter's graduation. Freparing meals at the Simon Community ep the homeless om his day off a ‘ena wedding meal at The Mill Park ft, C pvyhte Visit wiww.e-xamit ie Se a - | aPrcducion 0 phon J question 4 place a tick (v) mark to show whether each of the following statements is true o, a als, Gales minus Cost of Sales equals Gross Profit TRUE Net Profit is equal to Gross Profit plus Expenses Current Assets minus Current Liabilities (creditors falling due within one year) equals Working Capital Ly Question 5 Identify three headings in a business plan. Visit 1 Barly und of the busiaess 2 he 7 businiss eum punurs = Matt and ai kehing ‘. s nant arab —w idevtp et, Question 6 Harvey's Hotel is located in the South East of Ireland. State two benefits of EU members owners of Harvey's Hotel. ia LEU wants ror proud te Ahiarvidue de Gout ut of Uyilund —ghidh macuns Foursts con read the belel in gate Ame frre co be Qin Curopgan M cu Wat Me oS th the tele cn ~ omploystol frows any of the onriaed countries ok he FU. sa — Question 7 | vom State two reasons why Ireland imports goods from other countries. 1 Cluyate - Welund does not hae the cad clmato a “ fo _godud’s 2.4, Awopreuh fact. 2 Chorce for consurnsics — LARS Consumers woul) (he fo Mowe _o varethy af gooeds serves that can buy, 7 948 esi jaria McNamara have pre a Mat Pared a cash yet 2 alance the cash book below at the end of the wisn Or week of os. a = of the week by completing the shaded boxes- oR Details So R pate : Date Details Bank |: ene 5 April : A+ jance b/d 360 : 4 1 Groceries 95 wages — Robert 480 4 5 3. | Clothes 120 wages — Maria 560 § T° 4 | Mortgage 790 a 5_ | Petrol 65 | i] _| 6 | Cinema 20 ean = ee [8 vywthx Visit www.e-xamit.ie uestion i S| igesmyth isa salesperson for Morgan Motors Ltd. Complete her wage slip showing gross pay, total ations and net Pa. employee No.73 | Aoife Smyth | Week No. 10 Date: 4 March 2021 pa € DEDUCTIONS € Basic 420.00 _| PAYE a7 Commission 350.00 PRSI 30.55 Morgan Motors Ltd usc 19.44 Union subscription 5.66 NET PAY GROSS PAY 170 TOTAL DEDUCTIONS (43.14, 616 IG fdwave Visit www.e-xamitie Question 10 {i) Identify two taxes collected by the Government from businesses. 1 Cor ofaudeon t4t — a Jo ol Any pickets ofa due acs § 2 WAT « dot on goo k sires li) State one source of government revenue other than tax. A our, of gerund fever wf duiluad frowa. } ule - purud cover potteS Woh parlang Fenes, Canes bo 9 my oo ot Sk. 95 oe EDCO SAMPLE Cquestion 12 | leen Wynn have just received their home insurance quote for the com, in and Kathl _ oon ‘carn that it has increased by 20% since last year. They are considering dering deri clay / are surprised to ° iuced value for their home and contents to reduce the premium and have asked your <°s," Advice | (Should they reduce the value of their home to get a cheaper premium? Yes or no, | Ne, Give a reason for your answer. books dy _grduigle of wlensst good fat SES | oa | a eG on le “boy uyill ony ecene G ‘ fe a value of fre arennd masec 9 thee weg nee postal (oss the ayor st wh opp be urance premium may have increased this year (ii) Predict one reason why their home ins! 4 we ay _h nosed to Fowonber ck dawns rude by other cudanaccy of the inWig Ace CoWMpoury ‘wvxrob_ Visit wow.e-xamitie Question 12 (i) Explain what is meant by the term ‘Social Enterprise’ A soul eqterocsa is ore thub pals pco ple i commis y Lahoud of prude Nv pti onal) gen: J (ii) Identify one example of a social enterprise and briefly explain its role. name: Food Clow! Role: food Cloud _rediswi dudes suspic Food Fram tejals to charhes tid wo aso du food. 96rw 4 sti" 5 - ow eople use and dispose of 200 million coffee cas every yexr! ft ’ ais in which this fi The Irish Times, October 2018 axtone wav which this figure could be reduced by each of the following: it: “Th i mee thoy Lol impsy tx [lpuy sng Wh thoy a boy = sk feusch Lo (ups aston L_| cups abun they Pee toby arity hank | if pe oe zwskdu Visit ion 14 eae complete the following extract from the Meehan household budget for three months. January February March Total et cash 480 (220) 340 600 pening cash 270 750 ees 270 (closing cash 750 530 $70 BPvV aubonj ‘Visit www.e-xamitie Question 15 ‘The Minister for Finance is considering the requests from Government Ministers before the next budget. The Minister for Finance would like to build a new section of motorway between Sligo and Galway which will cost €750 million. The Minister for Education has stated that due to an increase inpopulation, there is a need for seven new primary schools and three new post-primary schools, hich will also cost €750 million. The Minister for Finance decides to only build the schools. (i) State the financial cost of this decision. 750 aul on (ii) Explain the opportunity cost of this decision. Talon, berwees Size { Croley aK the fon expen fone ‘uitbigucd soley to eet raw sebucol' skecao 97 Visit wowwne-xamit.ie any hay