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Leaving Cert Business - Study Smart guide

May 16, 2016

Leaving Cert Business - Study Smart guide

Students studying business for the Leaving Cert in school

Unit 1 is one of the more detailed units in the business course and it is well worth putting the time into as it usually comes up as a full long question in Section 3 Part 1.

Chapter one essentially governs the topics of shareholders and contract formation and remedies. When revising this chapter it is vital to know the names, definitions and examples of each shareholder as these tend to come up a lot in short questions and are easy marks to achieve in the exam. However it is also important to remember that if you are looking for the ‘A’ grade you need to be getting almost full marks in short questions. To achieve this you need to state, explain and give an example in each short question - therefore describing an entrepreneur as ‘a person who spots an opportunity in the market and takes an initiative to set up a business’ is not enough information.

To achieve the full 10 marks in that question one would have to say something along the lines of an entrepreneur it a risk taker who spots a gap in the market and uses his/her initiative to exploit it and try and make a profit. The entrepreneur takes both financial and personal risks to achieve this. E.g. Gillian Bowler set up Budget Travel as no company offered package holidays to Greece’ 

Try to think of examples that you have an interest in as they will be easier to remember. For example if you have an iPod and an interest in music why not use Steve Jobs as an example of an entrepreneur? When studying theory regarding contracts I would try to think of a simple acronym to remember the steps in the formation of a contract as they often prove difficult to learn and remember. 

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