- This section requires you to Name, Explain and Link for each point. combining different elements into the one answer. Evaluation may be also required.
- In answering the questions on the ABQ candidates must explain and make use of relevant knowledge/theory (and understanding) gained in the subject while studying the course in addition to the relevant links from the ABQ.
- Linking of points made in your answer with the text by relevant quotes/phrases/statements from the ABQ is essential.
- Read the ABQ provided in full before reading the questions, then go back and highlight the relevant points/links in the text.
- Present your... (More)
LC Business5,167 followers4 questions12 posts
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LC BusinessJC Business Studies
Why start a business?
- Challenge: Some people will become restless working for someone else, want more of a challenge
- Profit: Setting up the business offers the chance of earning profits
- New Ideas/Inventions:
- Circumstances: People can be forced to set up their business due to unforeseeable circumstances e.g A redundant worker with a sum of money
Problems in setting up a business:
- Right Product: getting the right product that will satisfy the needs for the customer fully e.g. Value for money
- Cash Flow: new starts ups often fail because cash flow issues i.e. run out of cash
- Premises: finding the... (More)
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LC Business
Motivation: is about what makes people do things. (What makes people work)
Maslow’s Need Hierarchy Theory of Motivation!
1. Physiological Needs:
These needs are of the lowest-order and most basic needs of human beings. These involve satisfying fundamental biological drives, such as the need for food, air, water, cloth, and shelter.
2. Safety and Security Needs:
The second level of need in Maslow’s hierarchy is emerged once physiological needs are met. Safety needs involve the need for a secure environment, free from threats of physical and psychological harm. These needs find expression in such desires as economic security and protection... (More)
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LC BusinessLC AccountingLC Home Economics
https://quizlet.com/41550927/money-management-leaving-cert-home-economics-flash-cards/
- Budget – A plan for spending money.
- Income – Money received.
- Expenditure – Money paid out.
- Gross Income – Total amount earned before deductions.
- PAYE – Pay As You Earn. Income Tax. Paid to State.
- PRSI – Pay Related Social Insurance. Pays for benefits if and when needed.
- Net Income – Total amount earned after deductions. Take home pay.
- Statutory Deductions – PAYE and PRSI
- Voluntary Deductions – Optional, e.g. health insurance.
- Household Expenses – Accommodation (rent/mortgage). Food. Clothing. Medical expenses. Travel. Electricity. Heating (gas/oil/etc.). Entertainment. Savings.
- Tax Credit – System used to calculate the amount of tax a... (More)
