2nd Year Christmas Test Flashcards
What is opportunity cost
It is the item we must go without when we have to make a choice
Define the term international trade
International trade is the buying (importing) and selling (exporting) of goods and services between different countries.
Define the term importing
Importing is buying goods or services from other countries. When this happens, money leaves the country.
Define the term exporting
Exporting is selling goods or services to other countries. In the case of all exports, money comes into the country.
What are skills
Some countries make certain products.eg. Switzerland makes Swiss watches
Define the term costs
Foreign goods may be cheaper
Define the term consumer choice
Irish consumers want to have a variety of goods and services to choose from.eg. Food and clothing
What are the legal rights for employees
Employees are protected by a number of employment laws. They have the right to:
• Receive at least the legal minimum wage
• Receive a written contract of employment
• Receive the correct amount of paid holidays
› Work in a workplace that is safe and healthy
› Receive proper rest breaks during work
› Be provided with all information about them that is held by their employer.
What are the legal responsibilities of employees
Employees should:
• Carry out their duties as stated in their contract of employment
› Follow workplace rules and safety instructions
› Respect their employer’s property
› Wear protective clothing and equipment provided by their employer
• Attend all training provided by the business
› Not discriminate against or bully other employees.
List 2 social rights of employees
› To work in a safe and respectful atmosphere, free from danger, bullying or discrimination
› To join a trade union if they choose to do so.
List 3 environmental rights of employers
› To have a safe and healthy working environment
To be provided with necessary safety equipment and protective clothing
› Not to be asked to carry out work that breaches environmental regulations.
List 3 ethical rights of a employee
To receive a fair day’s pay for a fair day’s work
› To have their religious and cultural beliefs respected
• Not to be asked to do anything unethical or illegal.
List 3 social responsibility of a employee
Employees have the responsibility to:
• Treat customers, co-workers and the employer with respect
› Work with and support fellow workers in order to achieve the aims of the business
› Be loyal to their employer and not disclose confidential business information.
Name an environmental responsibility of employees
Employees should carry out work in an environmentally responsible way and follow all environmental regulations and procedures; for example, they should not dump waste illegally.
Name 4 ethical responsibility of a employee
Employees should:
> Do a fair day’s work for a fair day’s pay
› Be on time for work
> Not be absent from work without a valid reason, for example illness or a family emergency
› Be honest and truthful in all aspects of their work.
What is work
Work is any productive activity that requires effort
Define the term volunteering
People carry out work/activities without payment and effort for there time
What is unemployment
Unemployment is members of a labour force who can’t find suitable work
Define the term employment
Employment is the members of a the labour force engaged in paid work
Define the term fixed term employment
Fixed term employment is people employed on a fixed term basis.eg. 10 month contract
List 2 benefits of volunteering
You can learn new skills and have a chance to socialise and meet and make new friends
Define the term public sector
The public sector provides services sectors by the government. Public sector workers are employed by the state .eg. School teachers
Define the term private sector
A commercial enterprise is private working profit. Non-commercial main goal to promote products/business
Name 3 types of employment
Full time employment,part time employment,job sharing