Gr 7-Economic and Management Sciences-Facilitator's Guide by Impaq

Í2’È-E-EMS-FG01ÇÎ

ECONOMIC AND MANAGEMENT SCIENCES FACILITATOR’S GUIDE Grade 7

A member of the FUTURELEARN group

Economic and Management Sciences Facilitator’s guide

1807-E-EMS-FG01

Í2’È-E-EMS-FG01ÇÎ

Grade 7

CAPS aligned

Facilitator’s Guide G07 ~ Economic and Management Sciences

CONTENTS

LESSON ELEMENTS.......................................................................................................... 3 PREFACE............................................................................................................................ 5 HOW TO USE THE FACILITATOR’S GUIDE ..................................................................... 5 TIMETABLE AND TIME MANAGEMENT ........................................................................... 6 ASSESSMENT REQUIREMENTS ...................................................................................... 7 FORMAL ASSESSMENT PROGRAMME ........................................................................... 8 YEAR PLAN ........................................................................................................................ 9 UNIT 1: THE ECONOMY................................................................................................... 10 LESSON 1: HISTORY OF MONEY..................................................................... 10 ACTIVITY 1 ...................................................................................... 10 ACTIVITY 2 ...................................................................................... 11 LESSON 2: NEEDS AND WANTS ...................................................................... 12 ACTIVITY 3 ...................................................................................... 12 ACTIVITY 4 ...................................................................................... 13 ACTIVITY 5 ...................................................................................... 14 LESSON 3: GOODS AND SERVICES ................................................................ 15 ACTIVITY 6 ...................................................................................... 15 ACTIVITY 7 ...................................................................................... 16 LESSON 4: BUSINESSES .................................................................................. 16 ACTIVITY 8 ...................................................................................... 16 ACTIVITY 9 ...................................................................................... 17 UNIT 2: FINANCIAL LITERACY ....................................................................................... 19 LESSON 5: REVISION ....................................................................................... 19 ACTIVITY 10 .................................................................................... 19 LESSON 6: ACCOUNTING CONCEPTS............................................................ 21 ACTIVITY 11 .................................................................................... 21 LESSON 7: INCOME AND EXPENSES ............................................................. 22 ACTIVITY 12 .................................................................................... 22 LESSON 8: BUDGETS ....................................................................................... 23 ACTIVITY 13 .................................................................................... 23 UNIT 3: ENTREPRENEURSHIP ....................................................................................... 24 LESSON 9: REVISION ....................................................................................... 24 ACTIVITY 14 .................................................................................... 24 LESSON 10: THE ENTREPRENEUR ................................................................. 25 ACTIVITY 15 .................................................................................... 25 LESSON 11: STARTING A BUSINESS .............................................................. 26 ACTIVITY 16 .................................................................................... 26 ACTIVITY 17 .................................................................................... 27 ACTIVITY 18 .................................................................................... 27 LESSON 12: ENTREPRENEUR’S DAY ............................................................. 28 ACTIVITY 19 .................................................................................... 28 1

Facilitator’s Guide G07 ~ Economic and Management Sciences

LESSON 13: INEQUALITY AND POVERTY ....................................................... 29 ACTIVITY 20 .................................................................................... 29 UNIT 4: THE ECONOMY................................................................................................... 30 LESSON 14: REVISION ..................................................................................... 30 ACTIVITY 21 .................................................................................... 30 LESSON 15: THE PRODUCTION PROCESS .................................................... 31 ACTIVITY 22 .................................................................................... 31 LESSON 16: SAVINGS....................................................................................... 32 ACTIVITY 23 .................................................................................... 32 ACTIVITY 24 .................................................................................... 33 GLOSSARY....................................................................................................................... 36 BIBLIOGRAPHY ............................................................................................................... 39

Facilitator’s Guide G07 ~ Economic and Management Sciences

YEAR PLAN UNIT 1 2 1 3 4 5 6 2

7 8 9 10

11 12 13 14

DATE STARTED

LESSON

15 16

DATE COMPLETED

The economy: History of money The economy: Needs and wants The economy: Goods and services Entrepreneurship: Businesses Revision Financial literacy: Accounting concepts Financial literacy: Income and expenses Financial literacy: Budgets Revision Entrepreneurship: The entrepreneur Entrepreneurship: Starting a business Entrepreneurship: Entrepreneur’s Day The economy: Inequality and poverty Revision The economy: The production process Financial literacy: Savings

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

UNIT 1: The economy All the learning aims have to be achieved before moving on to the next lesson/unit. It is very important that learners look for additional information about all the topics in the study guide in magazines, newspapers and on the Internet. It will enable learners to build up more indepth knowledge of the topics that are discussed. Encourage learners to do this and to bring the information with them to the next lesson. The marks of the activities do not count towards the formal assessment mark, but the mark allocation will give learners a good indication of how long the answers to the questions should be. It is very important that learners work through the answers with the facilitator/tutor and make corrections where necessary, so that they know exactly where errors were made. The above information is applicable to all the units and activities in the study guide. LESSON 1: HISTORY OF MONEY

LEARNING AIMS After learners have completed this lesson, they must be able to:  understand the meaning of traditional societies.  fully discuss bartering.  distinguish between promissory notes, coins and paper money.  understand electronic banking.  have a proper understanding of the role of money.

ACTIVITY 1

 They hunted to get meat.   Plants used for food and medicine   Made their clothes themselves.  The Khoi-San. 

(3) (2)

Facilitator’s Guide G07 ~ Economic and Management Sciences

4. 5.

Unit



It was difficult to equate the value of goods, as certain groups attached more value to an item than others.   Some goods that were bartered were only available at specific times in the year and could not be stored, e.g. food.   Certain goods that were exchanged were difficult to carry, e.g. a goat or cattle.  (3) They move from one place to the other and one season to the next  to trade.  (2) Any FIVE of the following:  Goats   Cattle   Maize   Sheep   Wheat   Chickens   Vegetables   Shells   Salt   Clay tablets  (5) TOTAL: 15

ACTIVITY 2

1. 2.1 2.2 2.3 2.4 3.

Automated Teller Machine  41361 51345 61 23 5674  09/05  09/08  No.  The PIN does not appear on the card – this serves as a safety measure so that nobody but the owner of the account can use the card.   Keep your bank card in a safe place.   Do not give your PIN to other people.   Be vigilant at an ATM when you withdraw money.  Any SIX of the following:  Absa   Nedbank   Standard Bank   FNB   Capitec   African Bank 

(1) (1) (1) (1) (2)

(3)

(6)

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

Any FIVE of the following:  Put your card in the slot.   Wait for the screen to choose an option for the language.   Enter your PIN number.   Indicate what you want to do, e.g. withdraw or deposit money.   Indicate if you want a slip.   Wait for the money if you have withdrawn it, as well as your card and slip.  If learners do not know how an ATM works, take them to an ATM and explain the steps. (5) TOTAL: 20

LESSON 2: NEEDS AND WANTS

LEARNING AIMS After learners have completed this lesson, they must be able to:  distinguish between a need and a want.  identify different needs of individuals, families, communities and countries.  distinguish between primary and secondary needs.  understand the concept of unlimited needs and wants with limited resources.

ACTIVITY 3 1. 2. 3.

The person mostly buys the basic needs.  No.  He buys paraffin and candles.  NEEDS

Sugar  Potatoes  Bread  Milk  Teabags  Sardines  Oats  Candles  Paraffin  Toilet paper  Blankets 

(1) (2) WANTS

Chocolate  Cigarettes  Shaving cream 

(14) © Impaq

Facilitator’s Guide G07 ~ Economic and Management Sciences

4.1 4.2 4.3 4.4 4.5 5.

Unit

really  wants  need  live  needs 

(5 x 1) = (5)



 (8) TOTAL: 30

ACTIVITY 4

1. Rural Item Hamburger Church Burglar bars Swimming pool

Need

Urban Want ×

× × ×

Need

Want ×

× × × (4 x 2) = (8)

2. Need/ want Food and clothes

Furniture

Business Any three of the following:  Food: Pick n Pay, Checkers, Game, Fruit & Veg, Spar, etc. Clothes: Woolworths, Edgars, Jet, Pep, Markham, Sport Scene, ens. Any three of the following:  Bears, Wetherlys, Joshua Door, Russells, OK, Game, etc.

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

Need/ want Garden tools Cars

Business Any three of the following:  Builders Warehouse, Garden City, Plantland, etc. Any three of the following:  Ford, Nissan, Toyota, BMW, Ferrari, Volkswagen, etc. (3 x 4) = (12)

The learner must paste the correct pictures under the correct headings.

(5 x 2) = (10) TOTAL: 30

ACTIVITY 5 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12

air (oxygen)  water  food  house  safe  at ease  locked  friends  love  strong points  yourself  admit 

2.1 2.2 2.3 2.4

Physiological need  – stores  Self-actualisation needs  – schools  Physiological need  – stores  Self-actualisation needs  – universities 

(12 x 1) = (12)

(4 x 2) = (8) TOTAL: 20

Facilitator’s Guide G07 ~ Economic and Management Sciences

LESSON 3:

Unit

GOODS AND SERVICES LEARNING AIMS After learners have completed this lesson, they must be able to:  distinguish between goods and services.  name examples of goods and services.  identify the role of producers and consumers.  identify the role of households as producers and consumers.  identify the importance of the effective and efficient use of goods and services.  to recycle and reuse goods to satisfy needs and wants.

ACTIVITY 6

2.1 2.2 2.3 2.4 2.5 3.

I am a bricklayer who works for a construction company. Commercial services 

I am a truck driver who transports goods. Commercial services 

I am a hairdresser at the local shopping centre. Personal services 

I sell fruit at the traffic light. Commercial services 

I am the principal of the local primary school. Personal services 

I am a cleaner at a big chain store. Commercial services 

I work on a fruit farm in a neighbouring town. Commercial services 

My family has been living in this town for ten years. None 

Post office  (1) Electricity  (1) Water  (1) Sewerage removal  (1) Rubbish removal  (1) People who buy and use the goods that are produced to satisfy their needs and wants.  (2) TOTAL: 15 15

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

ACTIVITY 7

3. 4.

Recycling, e.g. glass, paper, plastic.   Conservation of nature, e.g. nature reserves and less pollution.   To introduce programmes that make people aware of the decrease of resources.  (3) ● Plastic cool drink bottles, milk containers, plastic bags, etc.   Paper, newspapers, cardboard boxes, magazines, etc.   Glass bottles, etc.  (3) Natural resources from nature,  e.g. wood, soil, water, etc.  (3) Money (capital)  (1) TOTAL: 10 ●

LESSON 4: BUSINESSES

LEARNING AIMS After the learner has completed this lesson, he/she must be able to:  distinguish between formal and informal businesses.  identify the difference between trade, production and services businesses.  discuss the benefits and disadvantages of formal and informal businesses.  understand the role of formal and informal businesses as producers and consumers.  understand the effect of natural disasters and epidemics on formal and informal businesses.

ACTIVITY 8

1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 1.1.6

rules  move  ask  where when  money 

(6)

Facilitator’s Guide G07 ~ Economic and Management Sciences

1.2.1 1.2.2 1.2.3 1.2.4 1.2.5 1.2.6

Unit

rules  government  permission  address  money  tax 

2.1 to 2.4 Learners choose any business in their area and do research on it. They answer the necessary questions and make a poster of this. 2.1.1 2.1.2 2.1.3 2.1.4 2.1.5 2.2 2.3 2.4

Is the business formal or informal? What rules does the business have to follow? Who owns the business? Who works in the business? What does the business offer? Name at least THREE people. (3) Interview – no marks. The poster must have the following:  Heading   Depiction of business   Name and student number   Neat   Colourful   Creative 

(5 x 1) = (5)

(10) TOTAL: 30

ACTIVITY 9 1.

2.1

Learners make a list of businesses that he/she has recently used and make a list of similarities and differences between businesses.  (5) Any THREE products:  Tailor e.g. Roxy   Shoemaker e.g. Nike   Supermarket e.g. Friendly   Bakery e.g. Bokomo 

(3)

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

2.2 Any THREE services:  Gym e.g. Virgin Active   Primary school e.g. Witveld   Hotel e.g. Holiday Inn   Medical centre e.g. Intercare   Filling station e.g. BP

(3)

2.3 Any THREE that trade with goods:  Café   Bakery   Tailor   Shoemaker   Filling station 

(3)

2.4 Learners name any TWO relevant businesses in their area. 

(2)

3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9

Trading  Service  Service  Trading  Manufacturing  Service  Service  Trading  Service 

(1) (1) (1) (1) (1) (1) (1) (1) (1) TOTAL: 25

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

UNIT 2: Financial literacy LESSON 5: REVISION At the beginning of each lesson there is a revision section. The aim of the revision is to give learners an overview of what was covered in the previous unit. This lesson’s revision section gives learners an overview of work covered in Unit 1. Learners can read through it briefly to refresh their memory about what was covered in the previous unit.

ACTIVITY 10 1.

Self-sufficient: This means that from your environment, you can satisfy all your needs yourself. (1) Produce: To make something e.g.: plant maize (mealies), vegetables, fruit, make clothes and furniture.  (1) Accept others:  Hunted to get meat.   Used plants for food.   Medicine from nature.   Made own clothes with goat skins, etc.  (4)

●

  5.

a. b. c. d. e. f. g. h. i.

It was difficult to equate the value of goods, because certain groups valued a specific item more than others did.  Some of the goods with which they bartered were only available at certain times of the year, and could not be stored, e.g. food.  Certain goods that were exchanged, was difficult to carry, e.g. a goat or cattle.  (3) To love – Friends, family Education – Government Food – business Safety - Government Water – Government Recognition – Yourself, friends, family Food – Business Transport – Government, business Read and learn – Government, business (18)

6.1

Facilitator’s Guide G07 ~ Economic and Management Sciences

Unit

●

     

Hairdresser Safety Entertainment Bank services Transport services Medical care Education

(7)

6.2 ESSENTIAL

Education Medical care Safety Transport

LUXURY

Entertainment Bank services Hairdresser (7)

6.3

6.4

6.5

●

Education  Transport  Safety  Medical care The learner must name at least four services. (One mark per service)  The learner answers the question according to his/her community and circumstances. Learner’s own answer. Example – Postal service

(4)

(1) TOTAL: 50