2023 Q1 Answer all questions.


EXAM CORNERINTRO ACTIVITY Section A


All questions carry equal marks. Question 1


90 marks


The pie chart below shows the expenditure and savings for the Maher family for the month of September.


The pie chart below shows the expenditure and savings for the Maher family for the month of September.


Maher Family Budget 28%


(i) If total income for the month of September is €5,400 calculate how much money the Maher family save. Write your answer in the space provided.


Income is either saved or spent. The pie represents the total income.


If total income is €5,400 then you 72% Savings Expenditure


(i) If total income for the month of September is €5,400 calculate how much money the Maher family save. Write your answer in the space provided. 5,400 x .28 = €1,512


Workings


Answer €


Workings


Q16 The pie chart below shows the expenditure and savings of the Kavanagh family for the month of May.


(ii) List three typical sources of household income.


1. 2. 3.


KAVANAGH FAMILY BUDGET


(ii) State the percentage of income that is saved.


24%


Junior Cycle Final Examination 2023 Business Studies – Common Level


3 76% Workings


(iii) If total income for the month of May is €4,200, calculate how much the Kavanagh family save. Write your answer and workings in the spaces provided.


Answer €1,512


multiply that figure by the percentage of savings or expenditure to calculate how much each percentage is in Euro.


TOP TIP


(i) Identify which is larger for the Kavanagh family – savings or expenditure.


Savings


Expenditure


Answer €


(iv) Suggest one reason a household might want to save a bigger percentage of its income.


15


STRAND 1


CHAPTER 2: Household income and expenditure


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