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Junior Cycle · Junior Cycle Business Studies

Junior Cycle Business Studies: Needs, wants & financial lifecycle

How often Needs, wants & financial lifecycle comes up on the Business Studies papers, every year it was asked, and questions to try.

CL Asked on 3 of the last 6 Common Level papers, most recently in 2026.

Needs, wants & financial lifecycle, Common Level(7 marks)

Quick ones on Needs, wants & financial lifecycle.

(a)Which of these is a need rather than a want?
  1. A new games console
  2. Heating for your home
  3. A weekend city break in Paris
(b)At which stage of the financial life cycle is a person most likely to live on a pension?
  1. Childhood
  2. Early adulthood
  3. Retirement
(c)Which financial need is most typical of the family stage of the life cycle?
  1. Paying a mortgage and childcare
  2. Getting pocket money from parents
  3. Living on a State pension
Show the answers

(a) Heating for your home

(b) Retirement

(c) Paying a mortgage and childcare

Your turn: Common Level questions on Needs, wants & financial lifecycle.

Common Level

Asked on 3 of the last 6 Common Level papers, most recently in 2026.

Every paper, year by year

YearWhere it came up
2026Q14
2025Q16a
2024Not asked
2023Not asked
2022Not asked
2019Q15

Links open the State Examinations Commission’s paper for that year.

More Needs, wants & financial lifecycle questions

Needs, wants & financial lifecycle, 3 marks

Meeting a want can affect other people. Which is an example of a want that has a cost to society?

  1. Eating a healthy lunch at school each day
  2. Buying a warm winter coat
  3. Frequent flights adding to pollution
Show the answer

Frequent flights adding to pollution

Extra holiday flights are a want, and the carbon they release harms everyone, not just the traveller. A school lunch and a warm coat are needs.

Other Business Studies topics

All of Junior Cycle Business Studies