Outline two consumer benefits of online shopping, two difficulties Amazon could create for Irish SMEs, and one other effect of technology on a named sector.
(b)
Plot demand and supply for Scentastic, identify equilibrium, and calculate/explain PED for a price rise.
(c)
Argue whether the gig economy needs stronger regulation and outline one positive and one negative effect of full employment.
75 marks
Marking scheme
Marking scheme
What gets marks
Consumer benefitsConvenience. Price comparison. Time saving.8 marks
SME difficultiesLower sales. Price pressure. Loss of local trade.8 marks
Technology effectOnline selling, faster payments, targeted advertising.4 marks
Section A focus
Short points earn marks when they are applied to the case.
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2025 Q6
Strand 3 - Market structures
3.2 · The labour market
(a)
The national minimum wage rate currently stands at EUR13.50 per hour. This is an example of a price floor. Explain what you understand by the economic term price floor.
(b)
The diagram below shows a free labour market. Complete the diagram below to show how a change to Ireland's current national minimum wage rate will affect the market for labour.
20 marks
2024 Q7
Strand 3 - Market structures
3.3 · Market failure
(a)
Explain why the purchase of vape products are a form of market failure.
(b)
Outline two ways the Irish government could intervene in the vaping market to overcome this market failure.
20 marks
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Marking scheme
What gets marks
Consumer benefitsConvenience. Price comparison. Time saving.8 marks
SME difficultiesLower sales. Price pressure. Loss of local trade.8 marks
Technology effectOnline selling, faster payments, targeted advertising.4 marks
Section A focus
Short points earn marks when they are applied to the case.