Ceist Eile

Ceist Eile is in development. Features, questions and prices may change while we refine it.

Subjects · Leaving Cert Business

Leaving Cert Business: Business and the economy

How often Business and the economy comes up on the Business papers, every year it was asked, and questions to try.

HL Asked on 10 of the last 10 Higher Level papers, most recently in 2026. banker

OL Asked on 9 of the last 10 Ordinary Level papers, most recently in 2026. banker

June 2027 is the first exam on the new Business course. These come from the 2016–2026 papers, so read them as a guide.

Business and the economy, Higher Level(6 marks)

Quick ones on Business and the economy.

(a)Inflation is…
  1. A fall in the level of unemployment
  2. A general rise in the level of prices
  3. A rise in interest rates set by the ECB
(b)Higher Irish inflation makes Irish exports…
  1. Tax-free
  2. More competitive
  3. Less competitive
(c)Higher interest rates are good news for…
  1. Savers
  2. Firms with large loans
  3. Borrowers
Show the answers

(a) A general rise in the level of prices

(b) Less competitive

(c) Savers

Your turn: Higher Level questions on Business and the economy.

Higher Level

Asked on 10 of the last 10 Higher Level papers, most recently in 2026. banker

Every paper, year by year

YearWhere it came up
2026Section 3 Q2
2025Section 1 Q4, Section 1 Q11, Section 3 Q2
2024Section 3 Q2
2023Section 1 Q1, Section 1 Q8, Section 2 ABQ
2022Section 1 Q1, Section 1 Q6
2021Section 3 Q2
2019Section 1 Q4, Section 1 Q5, Section 3 Q2
2018Section 3 Q2
2017Section 1 Q10
2016Section 1 Q3

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

More Business and the economy questions

Business and the economy, 2 marks

The total amount owed by the government is the…

  1. Budget deficit
  2. Balance of payments
  3. National debt
Show the answer

National debt

The national debt is the total built up from past borrowing, managed by the National Treasury Management Agency. A budget deficit is one year's shortfall, which adds to the debt.

Business and the economy, 2 marks

Economic activity hidden from Revenue to avoid tax is the…

  1. Open economy
  2. Shadow economy
  3. Circular economy
Show the answer

Shadow economy

The shadow (black) economy includes cash-in-hand work not declared for tax. The State loses tax revenue, and workers miss out on PRSI benefits and employment rights.

Business and the economy, 2 marks

A survey measuring how optimistic households feel about their finances and the economy measures…

  1. Consumer confidence
  2. Inflation
  3. The balance of trade
Show the answer

Consumer confidence

Consumer confidence is an economic indicator. When it is high, people spend more; when it falls, they delay big purchases and save.

Ordinary Level

Asked on 9 of the last 10 Ordinary Level papers, most recently in 2026. banker

Every paper, year by year

YearWhere it came up
2026Section 1 Q12
2025Section 1 Q15, Section 2 Q2, Section 2 Q3
2024Section 2 Q2
2023Section 2 Q2
2022Section 1 Q15, Section 2 Q2
2021Not asked
2019Section 2 Q2
2018Section 2 Q2
2017Section 2 Q2
2016Section 1 Q10, Section 2 Q2

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

More Business and the economy questions

Business and the economy, 3 marks

The total value of goods and services produced inside a country in a year is…

  1. The national debt
  2. The balance of trade
  3. Gross Domestic Product
Show the answer

Gross Domestic Product

GDP is the usual measure of the size of an economy. Rising GDP normally means the economy is growing.

Business and the economy, 2 marks

Which of these usually happens during an economic boom?

  1. Most businesses close down
  2. Consumer spending rises
  3. Unemployment rises sharply
Show the answer

Consumer spending rises

In a boom people have more income and confidence, so they spend more, firms expand and jobs are created.

Business and the economy, 2 marks

A general rise in the prices of goods and services over time is…

  1. Inflation
  2. Deflation
  3. Recession
Show the answer

Inflation

Inflation means money buys less than before. It pushes up business costs and leads workers to look for higher pay.

Other Business topics

All of Leaving Cert Business