Question 9 standing of the t ion ‘onstrate your under: ers ity Explain the following terms related to insurance. Dem examples. Insurable interest: gu gnust beh} from. rf & J sh | tumuse a wut pot banelet i thay cers Pol suller brow af Logs Indemnit an im ie LNSUE ING u 7 you btwn) dows sel a pool} Question 10 ‘Suggest two ways that the Government could deal with a Budget Deficit. Z Inrensing tocatvon 2 Hae — te fron da ECB) Doe expend hue ose Question 11 Taxation is the process by which the government collects Money to pay for services, What do these abbreviations relating to taxation stand for? ae Value cuddled Fox. ] fay teloted Goad enance \tw'vel sah Soe Tar & oo 112yg ; ; q lorglin. She is about lf" ules ie college. Her S start college in Dublin, She has been working part-time et mer tO save - Her parents have agreed to pay half of her rent. os . jal needs for Rachel and on i a financl © Possible resource available to her to meet these |b : Fo08 Zz “(rans poct 3. Accom dation ees Port Hing 9 cyesion 13 ‘emmy Flynn has just started a new job as a personal trainer in Fitness Factory. He knows that he is Miled toa contract of employment. Identify three pieces of information contained in a contract denployment. Qaae of poy b T ee ey Fie. gt i a yeos enna UD ~ 113,Question 14 State one advantage and one disadvantage of field research, Advantage: oi inborimudion " (Modis (aot brasedd | Disadvantage: Glues More bua IE nwve + Ya Lemepony has to fay Someone . Question 15 Explain one economic challenge and one social challenge of EU membership for Ireland, | Scene ea re niCoc masses fa ce mureased compe th ov {oom lowe wet | othe member states LONOMES A Socialchallenge: Comping with & WU Consumer and Employer 5 pe (as has, ene{orree b costs fo Wish busing sses. 114(2) (i). Theloans outlined are: (tick (V) the appropriate term below) Short term y Medium term Long term (li) Based on the information provided, would you recommend the Bank of Irelang Personal Loan or the Ulster Bank Personal Loan to Alan and Michelle? Give a reason for your answer. (ii) Other than commercial banks, name one other financial institution that Alan and Michelle could borrow from to pay for their attic conversion. Geurt unions and Luding sourdvey peo home (up VEN Toons Tousen {b) (i) Describe one risk to Alan and Michelle of taking out a loan to pay for their attic conversion Pron end (dalle souy be uncle 49 cupey Hu enon fyccoua ond the vetoes! quel dud too dane in huis personel —arcumstanas, Doe ee font esta inst ner yh. They youth iebace Awl edutwat “cna (ii) What do the letters APR stand for? eR — serds toy Annual Pauboge Lube (ii) Why should borrowers look for the APR of a loan? the awa) Pecontage te is the olleuletin oF the gurl ob o lourn ond represents tu adud yea Luck + the wanes borwtlithe hier dhe ore vi J 116onal detail rt from pers ‘alls such as name and address, lst three items of information that Apa i : ested on a loan applicati (wi be reo PPlication form from either Bank of ireland or Ulster Bank. ment dotouls imac Vater 7 uJ i re keen i on d michel le meat their energy bills and be more sustainable. While et out tl pee icneren their building contractor told them that there are ene jment Bra eae ‘rom Sustainable Energy Authority of Ireland (SEAI) to smeowne’S to reduce their energy costs and greenhouse emissions. @ List two additional things a householder can do to make their home more energy efficient. a ip@t LES - Ves pe an dechic woker) Install olor pants fi) Outline one benefit and one cost to Alan and Michelle of making their home more energy efficient. Benefit: Sola —parahs are eri ie Wuedorsy US wih be ceduat and thee | nosso wl be wor mass cost: Cha oppo( juuthy fost of pending Morey bo mole Aus Wore yyane ally eltecronts “Peer tend Midwest pe arable bo Sppnd thud Moy, Asowhwig oe MAY Wart jo boo L Morey tp guy “Me hall tos ol nditg dew wp (OVE MENT —_ “7 EDCO SAMPLE DQuestion 17 Cathal Geary and Linda Craig trading as G&C Ltd, have a successful café called The Tearooms in Sligo. While on a recent holiday in Italy, the noticed lots ofice cream onsale ge, icecream making cless. On their return to Ireland, they have decided to open an ice can’ .! called ‘Sligo Scoops’ above their cafe, in an area they previously rented out as office ae Pa vs the purchase of equipment and furniture, they will use retained earnings. "Tos To assist them in planning ‘Sligo Scoops’, they are writing a business plan. They have been to cone ofthe sections of business plan should contain information about Target Market and ny. They currently advertise their business in local newspapers and on local radio. The target mar ‘Sligo Scoops’ is different to that of The Blueberry Tearooms and they are concerned that tray thet fy advertising in local newspapers and on local radio will not be suitable. They will need tg, ae alternative promotion mix. (a) (i) What does the term ‘target market’ mean? fhe ongumess hed = ls wont Awe @duct s (ii) Identify a suitable target market for ‘Sligo Scoops’. user sacle om 12 IS- ay Fu Siag Scoop, would eard ts ctu tans of adverhyrq decease re dont lor ad drakiwon) Abs (per 5 fades ruhy (ii) Suggest two ways in which Cathal and Linda could promote ‘Sligo Scoops”. Give a reason why in each case. 5 Ponses we Method of promotion | Reason for choice cal Mudie | Ths 6 Mee plolomunact med S of ee i Mawr “egal weulh use Law A Wels ke 118—_ Y ig entity ane opportunity cost to Cathal and Linda af opening ‘Sligo Scoops. suggest an alternative source of fi Oo) archase of equipment and furnit nance, other than retained earnings, to finance the Ure for ‘Sligo Scoops’. An cbbernwhic sence ob fey, aa 3 tl be a medagn = tere lant, hich os _sehessile Fe. bape Sup Scoops old be ee cl apay murets bael sy wr et eared te ape) A it pu the Leas ing, identify two sources of business ideas for entrepreneurs, Gru sorry i | bay cost othol V Linda. werd on hedoy si ltoby ao idiom + {hoy Cast \ Luin ll nse ggatunity cost of cspinly doy unend ampere cole the Blue lowry Troroonte 80-85% of the world’s natural vanilla is supplied by Madagascar, an island nation off the coast of Africa. Linda read a recent article online in The Economist about a shortage of vanilla worldwide. Linda is concerned as vanilla is one of the main ingredients for the ice cream that she and Cathal will produce in ‘Sligo Scoops’. (i) What effect will a shortage of vanilla have on each of the following: ; : os par The price of vanilla: hy st of _gfoAuchion wold snorease wot — push Arcupply co orcs for thot Reps leva witha utile urd eee Se 119 RTTThe price of ice cream: Madagascar the Mlolout denand ase a) decree” we suppy (ili) Adjust the diagram below to show the effect of the decrease in supply of vanila on each of the following: . © Price © Quantity supplied * Equilibrium point Price ) 9 ‘Quantity