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Grade

7Economic and Management

Sciences

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ECONOMIC AND MANAGEMENT SCIENCES GRADE 7

TEACHER’S GUIDE

TERM 1

Week 1 Introduction to Grade 7: Economic and Management Sciences Methodology: 1. Complete School, Grade and Learning Area administration. 2. Develop classroom code of conduct and share expectations for the term. 3. Reflect on work completed in the previous year. 4. Give learners an overview of Grade 7 Economic & Management Sciences. 5. Prepare Learning Area workbook and compile index and content page. 6. Introduce assignment and rubric to be completed in week 6. 7. Complete the baseline assessment.

Baseline Assessment: Marks: 30

1. Match the correct explanation in Column B with a word in Column A.

Column A Column B 1.1 Consumer (a) People/businesses who make products. 1.2 Budget (b) To put money into a bank account. 1.3 Tax (c) People in a household who buy and use

goods and services. 1.4 Subsistence economy (d) Living in a city. 1.5 Urban (e) Where people live off the land. 1.6 Human resources (f) Exchange surplus goods for other goods. 1.7 Barter (g) A plan to spend and save your money. 1.8 Producer (h) Labour 1.9 Rural (i) Living in the countryside. 1.10 Deposit (j) Money paid to the government.

(10)

2. Choose the correct word to make the statement TRUE.

(a) Spar is an example of such a business. (Trading business/Manufacturing business/Service business)

(b) A spaza shop is a (formal/informal) business. (c) (Owner/Management/Workers) receive the profit in the business. (d) To use money wisely is a (right/responsibility) of a consumer. (e) Excise tax is tax on (petrol/wine/TV) (5)

3. Explain the impact of economic growth on a community. (3)

4. Name THREE ways how you as a learner can improve your standard of living. (3)

5. Name the FOUR P’s of the marketing mix. (4)

6. Name the FOUR management tasks or processes. (4)

7. Define the concept “entrepreneur”. (1) [30]

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SUGGESTED MEMORANDUM

1.1 c 1.2 g 1.3 j 1.4 e 1.5 d 1.6 h 1.7 f 1.8 a 1.9 I 1.10 b

(10)

2. (a) Trading business (b) informal (c) owner (d) responsibility (e) wine (5)

3. Impact of economic growth o more jobs o better health care o lower infant mortality rate o higher literacy rate o supply of electricity and clean water to everyone o communication installation in remote areas o more businesses and housing o improved sanitation (Look at the learners own answers – only 3) (3)

4. Ways of improving living standards o work hard at school o hard working and dedicated o making a choice for the better o be discipline and obedient o listen to advise o save money o do jobs for pocket money o be organize and have routine o become an entrepreneur o develop healthy habits and life styles (Look at the learners own answers – only 3) (3)

5. Product Price Place Promotion (4)

6. Planning Organizing Leading Controlling (4)

7. A person who identifies a business opportunity. (1) [30] Resources: Textbooks

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Week 2 Needs and wants Methodology: 1. Ask questions to determine if learners understand the meaning of the following concepts:

o Needs: Things we need for survival. o Wants: Things we like or for enjoyment like luxuries and it is not essential for survival,

but it can improve quality of life. 2. Differentiate between needs and wants by showing them pictures of:

o primary needs like sheltering, food, clothes and recreation. o secondary needs like a cd player.

3. Revise the role of the business producing the products for satisfying wants and needs. o Identify the economic problem (so that learners understand the impact of production) by

explaining: • unlimited needs and wants • and the limited resources (factors of production – natural resources, labour, capital,

entrepreneurship) 4. Explain the impact of producing these goods/services (positive and/or negative) for satisfying

needs and wants by using a case study or newspaper article: o on the community – e.g. develop the region, create jobs, health risks etc. o on the environment – pollution, natural beauty can be destroyed etc.

Assessment: Informal assessment Use case studies to explain the impact of production. Learners can collect and paste pictures in their workbooks to show their understanding of the difference between needs and wants. Integration: Social Science Language Resources: Newspaper articles, magazines, case studies, textbook Vocabulary

Needs Wants Economic problem Resources Week 3 Sectors of economy Methodology: 1. Describe the three sectors of the economy.

o Primary sectors: when raw materials being subtracted from earth. E.g. farming, fishing, mining, forestry, etc.

o Secondary sector: use the raw materials to produce products. E.g. factories, building contractors, etc.

o Tertiary sector: this sector transport and distribute the products. E.g. wholesaler (Metro) and retailers (sell directly to consumer), etc.

2. Use an example to explain the chain of production (the link between the sectors) o The farmer (primary sector) gets the milk from the cows. o Parmalat (secondary sector) use the milk to make (produce) cheese. o (Tertiary sector) When the cheese are transported to the shops (retailers) so that the

consumers can buy it.

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Assessment: Informal assessment Ask learners to use a double page in their workbooks to make a poster. They must paste a picture of a final product in the middle and then they must use pictures to demonstrate their knowledge of the three sectors (showing the chain of production). For example: a picture of cheese in the middle. Then showing a picture of cows an make an indication that this is the primary sector, a picture of machines or a factory or workers to show the secondary sector and then a picture of a retailer (like Spar) advertising cheese on a special as the tertiary sector. Integration: Technology Arts and Culture Resources: Textbook, magazines Vocabulary

Primary sector Secondary sector Tertiary sector Producing Wholesalers Retailers Consumer Transport

Week 4 Types of businesses Methodology: 1. Describe the different types of businesses by using examples:

o Service business: a Service business provides a service by selling their skills and time to others. E.g. hairdressers, garden services, doctors, etc.

o Retail business: Also called trading businesses. These retailers sell products to others. E.g. Edgars, Shoprite, Fruit & Veg, etc.

o Manufacturing business: Make (produce) and sell products to others. E.g. Clover producing ice cream, Bokomo produce bread, etc.

Assessment: Informal assessment

Draw up a table by listing different business names and/or logos and then the learners must identify the business as a service, retail or manufacturing business. Peer assessment.

Integration: Technology

Resources: Textbook, magazines, newspapers, worksheet

Vocabulary Service business Manufacturing business

Week 5 “Free” and “economic” goods

Methodology: 1. Define and explain the concepts:

o “free” goods: Things people use for free e.g. water from the river, sand from the desert, etc.

o “economic” (scares) goods: People are willing to pay for these goods. Remember scarcity (the scarcer the product, the higher the price). E.g. Think of Wimbledon (tennis) – it’s a tradition to eat strawberries and cream while watching tennis. Therefore the price of strawberries will be higher in June/July as in the rest of the year.

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Assessment: Formal Assessment Task 1

Activity 1: Collage LO 1: AS 7.1.3 Marks: 30

Instructions: 1. Create a collage of “free” and “economic” goods. 2. Use magazines and/or newspapers for pictures. The learners can also use other medium

like paint and/or other objects to create dimension. 3. They may not print words and/or pictures on a computer. 4. Pictures must overlap. 5. Collage must have a frame. 6. Use A4-size paper.

Rubric

Content Both terms not clearly presented

2 marks

Both terms presented

fairly in collage

4 marks

Both terms good

presented in collage

6 marks

Both terms presented excellently in collage 8 marks

Overlap Pictures not overlapping

0 marks

Pictures are overlapping

2 marks

Variety Only one kind of

medium used

2 marks

Used two or more kinds of medium

4 marks

Frame No frame

0 marks

Provided an inadequate

frame

2 marks

Provided an excellent

frame 4 marks

Cover page No cover page

0 marks

Provided, but

incomplete 2 marks

A completed cover page

provided 4 marks

Technical quality

Poor quality 1 mark

Fair quality

2 marks

Average quality

3 marks

Good quality

4 marks

Excellent quality

5 marks Punctuality Not handed

in 0 marks

Late

1 mark

On time

2 marks

Before due date

3 marks

Integration: Arts and Culture

Resources: Magazines, newspapers, paint, etc.

Vocabulary

Scarcity Economic goods Free goods

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Week 6 Supply and demand Methodology: 1. Define the concepts:

o Demand: The term demand in economics is used to describe how many goods will be bought at a certain price.

o Supply: The term supply in economics is what sellers are willing to supply at a certain price.

o Price: The amount of money at which you buy or sell a product.

2. Explain the influence of demand and supply on price by using examples. o When there are only a few of the product available (when the product is scarce), the

price will increase. o When the supplier supplies more of that product, the price will drop/decrease. o When something gets in fashion (like beads), more consumers will want it, and that will

raise the price. o When the product gets out of fashion (like beads), fewer consumers want the product,

and that will decrease the price again. o Resources are scares when demand is greater than supply.

Assessment: Informal assessment Class worksheet Draw up a table with the following headings: Price / Quantity of products demanded by consumers / Quantity of products that suppliers are willing to supply. Use data to complete the table. Ask questions referring to the table. E.g. At a specific price, how many products will be supplied, at a specific price how many products are demanded, etc. Integration: Mathematics Resources: Textbook, worksheet Vocabulary

Demand Supply Price Supplier Week 7 Productivity

Methodology: 1. Define the concept by using an example:

Productivity: This describes how quickly inputs can be turned into outputs to sell to the consumers. E.g. a worker that produces two tables in a hour, is more productive than a worker that only produces one table in a hour.

2. Discuss the meaning of productivity by using a simulation lesson where learners must produce a product in groups in a specific time. With each round give them something more e.g. instructions, capital goods, etc. to show how productivity increase. Remember it is how well resources and time are used. This is called efficiency and help with productivity. While using the simulation, use the concepts materials, labour, equipment, inputs and output.

Assessment: Informal assessment Ask learners questions on work done this week.

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Integration: Technology Resources: Textbook, resources for the simulation lesson, etc. Vocabulary

Productivity Efficiency Labour Equipment Input Output Materials Capital goods

Week 8 Relationships Methodology: 1. Revise the following concepts:

o Consumer: A person who uses goods and services. o Producer: A person/business that makes goods and/or provides services. o Employer: Offer work opportunities. o Employee: In return for wages and salaries, they supply labour. o Government: An institution that runs/rules the country. o Business: It is an undertaking that provides goods and services.

2. Describe the relationships between the following by using examples: o The consumer and producer: Producers make products that consumers want to

satisfy their needs and wants. Therefore producers need consumers to sell their products to. Consumers need producers to satisfy their needs and wants.

o The employer and employee: The employer provides a job to a person (the employee) and in return the employer will get labour and the employee a salary or wage.

o The government and the business: The business pays tax to the government on their profits, so that the government can provide services to the business, example to provide electricity.

o Newspaper articles and case studies can be used to show the relationships. Assessment: Informal assessment Ask learners questions on work done this week. Integration: Life Orientation Social Science Resources: Textbook, newspapers, case studies. Vocabulary

Tax Electricity Relationship Week 9 Rights and responsibilities Methodology: 1. Debate the economic rights and responsibilities between the:

o consumer and producer o the employer and employee o government and business.

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2. For the debating purpose, use one lesson for each relationship. Divide the class in every lesson into two groups and let them debate the rights and responsibilities of the

above-mentioned. Assessment: Informal assessment The teacher can wrap up after each debate to consolidate the important facts. Integration: Language Life Orientation Resources: Teacher Guide for Grade 6 (page 4 and 5), textbooks. Vocabulary

Responsibilities Rights Week 10 Revision and assessment Methodology: 1. Use a quiz by dividing the class into two groups. Prepare some questions on the work done

this term. 2. Give a work sheet with revision questions and use peer assessment. Assessment: Formal Assessment Task 1 Activity 2: Term Test LO 1: AS 7.1.1, 7.1.2, 7.1.3, 7.2.4 and 7.1.4 Marks: 50 Educator records all assessment tasks completed during term 1: Assessment Task 1 Activity 1: Collage Assessment Task 1 Activity 2: Term Test

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TERM 2 Week 11 Managerial skills Methodology: 1. Reflect on work completed in Term 1. 2. Introduce the formal assessment task (week 17) and discuss the rubric to be used for the project

Briefly explain the following definitions: planning, organizing, leading and controlling. (These concepts are explained in the Teacher Guide for Grade 6, page 24). 6. Explain the manager’s role by discussing each of the management tasks in detail. Use the

ZOPP methodology to test the prior knowledge of the learners. (Refer to the Teacher Guide for Grade 6 page 11)

Assessment: Informal assessment Ask learners questions on work done this week. Integration: Language Resources: Textbooks Vocabulary

Manager Role Week 12 Managerial skills Methodology: 1. Explain controlling procedures e.g. financial and procedural controls in a business. Financial control includes recording of all transactions from source documents. Procedural control is for example for a time sheet where employees must sign in and out. Assessment Formal Assessment Task 2 Activity 1: Case study Marks: 30 Case study

Mr. Toto Bola is the Sport Manager of the rugby team at Kuilsriver Technical High School. They are going on a tour to Port Elizabeth in the Eastern Cape at the end of the term. Toto’s goal for his team is to win every match on tour. He spends many hours planning how to do it.

He gets someone to take a video of every game they play before they go on the tour. After each game, Toto and his team take a close look at the game and discuss all the mistakes and skillful moves. Together they plan strategies to improve their game. He gets hold of the following people to help him with the preparations.

1. Physical instructor – to work at the fitness of the team. 2. Psychologist – to encourage the team members and make them strong mentally. 3. Physiotherapist – to help the team players with any injuries that might happen while playing.

Toto also got a sponsor from Coca Cola of R24 000 and decided to give half of it to the players to motivate them to play well and for the selection of a Man of the Match during the tournament.

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Questions: 1. Does Toto do any planning, organizing, leading and controlling? Take sentences out of the

case study above to prove your answer. 2. Read through the sentences below and identify to which management tasks the sentence

refer to: 2.1 Deciding on how to do things. 2.2 Transfer and receive ideas. 2.3 Deciding on what to do. 2.4 To give instructions to workers. 2.5 To determine whether instructions are carried out. Answers: 1. Yes. Planning – “Toto’s goals for his team…” “He spends many hours planning how

to do it.” “Together they plan strategies….” “Toto also got a sponsor…” Organizing – “He gets someone to take…” “He gets hold of people to…”

Leadership – “Toto and his team take a close look…” “…selection of player of the match…”

Controlling – “…to improve their game” (20)

2.1 Organizing 2.2 Communication 2.3 Planning 2.4 Leading 2.5 Controlling

(10) [30]

Integration: Language Resources: Textbook, case study Vocabulary

Procedures Source documents Week 13 Leadership and Management Methodology: 1. Revise the following concepts (Teacher Guide for Grade 6 page 24)

o Leadership o Management

2. Discuss the following leadership/management approaches (styles): o Democratic: A manager who consults his/her staff before making decisions. o Autocratic: A manager that makes decisions on his/her own without consulting his/her

employees or management. o Laissez Faire (Free reign): Employees make all the decisions and the manager role is

seen as absent or withdrawing. Assessment: Informal assessment

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Prepare a work sheet with different scenarios. Then the learners must identify the different leadership/management styles in the scenarios. Peer assessment. Integration: Life Orientation Language Resources: Textbook, work sheet. Vocabulary

Democratic Autocratic Laissez Faire Week 14 Administrative management Methodology: 1. Define the concept:

Administration: This is the control of information of a business and should be kept safely and it should be available when needed.

2. Describe the importance of administration by using examples. Explaining the importance for learners to organize and file their information in their portfolios.

3. Describe the following regarding administration activities: o Filing: Storing of information in an organised way. o Manual filing systems: When papers are filed in files in cabinets. o Electronic filing systems: When computers are used to store information. o Software for office administration: This is computer programs that businesses use to

process and store their information. Assessment: Informal assessment Integration: Technology Resources: Textbook, portfolios Vocabulary

Filing Administration Manual Electronic Week 15 Administrative management Methodology: 1. Define basic accounting concepts with examples and use source documents:

o Financial data: Sources of financial information. (e.g. a receipt) o Accounting: Recording of financial data. (To write up every transactions) o Bookkeeper: A person in the business who collects and summarizes all the financial

data. o Accountant: A person who checks all the bookkeepers’ data to ensure whether it is

correctly recorded. o Income tax: Money pay to the government on income receives. o SARS (South African Revenue Services): This is the government office that collects

tax from individuals and businesses. o Source document: The record of a transaction. (Cash slip, invoice, receipt, etc.) o Financial transaction: Any activity concerns the flow of money.

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Assessment: Informal assessment Use flash cards with concept and definitions. Ask learners to match the correct concept with the correct definition. Integration: Life Orientation Resources: Textbook, flash cards, source documents Vocabulary

Receipt Cash slip Invoice Data Week 16 Use of technology Methodology: 1. Define technology and telecommunication by using pictures of these to get to the definition

from the learners. 2. Identify through pictures the different improved electronic financial services:

o Cell phones o Internet o ATM

3. Discuss how the above technology is used for financial transactions, start by using the ZOPP methodology (Refer to Teacher Guide for Grade 6 page 11) to test the prior knowledge of the learners in the usage of these technology for financial transactions.

4. Use a group discussion on how this technology services improve: o Administration o Communication o Access to information

Assessment: Informal assessment The teacher can wrap up after the class and group discussions to consolidate the important facts. Integration: Language Resources: Textbook, Magazines. Vocabulary

Financial services Technology Telecommunication Week 17 Assessment Assessment: Formal Assessment Assessment Task 2 Activity 2: Written and Oral presentation (You may use the Assessment Task 2 and the rubric in the Planning and Assessment Document for the Senior Phase on page 33). Marks: 40 Resources: Planning and Assessment Document for the Senior Phase

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Week 18 Human resource management Methodology: 1. Define by using examples: Human resource management: Managing people working in the business. 2. Explain the different processes by using practical examples to clarify the theory:

o Planning HR needs: When a job description must be compiled by looking at the tasks and responsibilities of each position.

o Recruiting: To find a suitable person to fill a vacant position. o Selection and placement: Inviting applicants on the short list for an interview to select

the most suitable person and place that person in the correct position in a specific department.

o Introducing new employees (induction): Process to help new employees to fit in with the business by introducing them to their colleagues and the business policies.

o How to keep employees in the business: To treat employees with respect and to create a pleasant atmosphere and give them opportunities to grow as a worker and as an individual.

o Training and development of employees: Sending employees on courses to get some knowledge and skills. Then the employees know how to use technology and their productivity will increase.

Assessment: Informal assessment Use job advertisements to assess the learner’s knowledge. Use a work sheet to identify the different processes of human resource management in these advertisements Integration: Language Life Orientation Resources: Textbooks, newspapers, work sheet Vocabulary

Recruiting Induction Training Job description Week 19 and 20 Assessment

Assessment: Formal Assessment Assessment Task 2 Activity 3: Examination Minimum: 75 up to 100

Resources: Textbooks and work books.

Educator records all assessment tasks completed during term 2:

Assessment Task 2 Activity 1: Case study

Assessment Task 2 Activity 2: Written and oral presentation

Assessment Task 2 Activity 3: June examination

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TERM 3 Week 21 Entrepreneurship Methodology: 1. Reflect on work completed in Term 2. 2. Update workbook. 3. Learners reflect on standard of achievement and write down expectations for the new term. 4. Revise the following: the definition of an entrepreneur and the characteristics and skills of an

entrepreneur. The characteristics looked for by “businesses” appear to be the following: Leadership, Teamwork, Problem Solving, Interpersonal Relations, Drive and determination, Skills (relevant to the job advertised); Honesty and Integrity, Communication skills, Open Mindedness and Thinking Skills. These skills must be taught to ALL learners. While some pupils are born entrepreneurs, others prefer to follow and therefore needs to be developed into pro-active, independent “intrapreneurs”

Pupils must understand why it is of great value to the economy to develop entrepreneurs. A combination of teaching for entrepreneurship (by teaching skills necessary for entrepreneurs) and through entrepreneurship (by getting pupils to set up and run businesses) provide the most effective results.

REMEMBER: It is not only about buying and selling of consumables, but also about designing and discovering of new products or services. Make sure the learners know that providing a service OR manufacturing/make/produce something to sell, is also part of entrepreneurship. Tell learners that science and technology is very important and an entrepreneur can also design for example software for cell phones or computers. Entrepreneurship is when an entrepreneur identifies a gap in the market; he/she must design/develop a totally new product or improves an existing product.

5. Use two case studies of successful entrepreneurs in your own community to compare the characteristics and skills of these entrepreneurs. Divide the class in groups. Some groups do one case study and the other groups the other case study. Then the groups must report back on their findings.

Assessment: Informal assessment Give the learners a case study with a work sheet. Integration: Language Life Orientation Resources: Textbooks, case studies, work sheet, newspapers, magazines. Vocabulary

Entrepreneur Innovative Creative Week 22 Entrepreneurship Methodology: 1. Revise the concept “idea generation” by using an example. 2. Define and explain the different idea generation techniques by showing it visually to the

learners.

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o Questionnaire: An instrument that’s being used to generate ideas. In this instruments are different questions and these questions are answered by a large number of people.

o Brainstorming: Get ideas from different people in a short time. o Mind mapping: Put the main idea in the middle of a page. Picture the ideas. Link the

ideas/keywords/phrases with each other. Assessment: Informal assessment After explaining, discussing and showing the different techniques, give the learners the opportunity to practice brainstorming and mind mapping (as idea generation techniques) for their joint ventures. Tips to the teacher how to do brainstorming:

o Give the learners one minute to write ideas down on a certain topic. o Don’t think about the ideas, just write down. o No criticizing of ideas. o Accept all ideas. o Obtain as many ideas as possible.

Integration: Language Resources: Textbooks Vocabulary

Questionnaire Brainstorming Mind mapping Week 23 Entrepreneurship Methodology: 1. Assist learners to design a questionnaire to research business opportunities in school or their

own communities. In the Teacher Guide for Grade 6 on page 26 and 27 you will find an example of instructions for a questionnaire and a rubric.

2. Give time to learners to report back. 3. Make use of a class discussion to get to recommendations how to generate income in a

responsible way. Remember: to generate an income you cannot exploit people, the environment or the community.

Assessment: Formal Assessment Assessment Task 3 Activity 1: Questionnaire Marks: 30 marks Integration: Social science Resources: Textbook, instructions to a questionnaire, Teacher Guide for Grade 6 on page 26 and 27 Vocabulary

Recommendations Opportunities Exploit

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Week 24 Entrepreneurship Methodology: 1. Revise the following aspects: business plan and advertising (Teacher Guide for Grade 6 on

page 29). 2. For learners to participate in a joint venture (that must be between the school and the

community/parents), let them use the ideas they generate in week 22. 3. Let the learners use this week time to organize their businesses e.g. getting their resources,

to adapt their business plans that they draw up in grade 6, etc. Assessment: Informal assessment A class test to start this week. Ask the different steps of the business plan. (Teacher Guide for Grade 6 on page 29). Integration: Life Orientation Resources: Textbook, Teacher Guide for Grade 6, Learners business plans that they draw up in grade 6. Vocabulary

Business plan Advertise Joint Venture Week 25 Entrepreneurship Methodology: 1. Explain the AIDA principle regarding advertising by using different advertisements. Attract attention Create an Interest Create a Desire to have that product/service Lead to Action Assessment: Formal Assessment Assessment Task 3 Activity 2: Design a poster Marks: 30 Instructions: 1. Learners must design a poster to advertise their businesses that they must run the next

week. 2. Use A4 size. 3. The learners must decide which information must appear on the poster. 4. The learners must draw or paint a picture of their product/service on the poster. 5. They must remember the AIDA principle.

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Content Business Name No name

provided 0

Inappropriate name 1 - 2

Relevant name 3 – 4

New creative innovative name 6

Contact information/Address No information provided 0

Inadequate information 2

All information included 4

Identify the kind of product/service No mentioning of product/service 0

Mention the product / service 2

Clearly identified 4

Excellent creative way stating product / service 5

Presentation Size of poster

Not use A4 0

Use A4 size 2

Eye catching

Not visible 0

Visible 2

Wording

Too long and difficult words 0

Catching words 2

Lettering

Too small 0

Easy to read 2

Picture

Not relevant 0

Relevant 2

Eye catching 4

AIDA principle Not applicable 0

Partly applied 2

Fully applied 3

Integration: Arts and Culture Resources: A4 paper, textbooks, Vocabulary

Advertisement Design Week 26 Entrepreneurship Methodology: 1. This week the learners must run their businesses. 2. Some tips to use for the market days:

o Remember to organize for cash float (change). o Do marketing or putting up posters. o Plan for attractive packaging. o Remember to price the products (make sure the price cover the cost) o Arrange the display attractively.

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Week 27 Managerial skills Methodology: 1. Define the following accounting concepts and give examples referring to the learners own

businesses. o Assets: Items of value that belong to the business/person. o Fixed assets: Bought to generate an income e.g. land, buildings, equipment, etc. o Current assets: Assets used in the current year e.g. cash, goods, etc. o Liabilities: Debt that a person/business must pay. o Current liabilities: Debts that are paid within a year e.g. bank overdraft. o Long term liabilities: Debt that can be repaid over a period of five years. o Income: The money received for rendering a service or selling a product. o Expenses: A cost that you incur while running your business e.g. wages, rent,

electricity, etc. o Profit: When income is more than expenses. o Loss: When expenses are more than income. o Net worth: The difference between assets and liabilities of a business. o Statement of net worth: A financial document that shows the financial position of the

business. Assessment: Informal assessment A work sheet with columns for concepts and definitions and learners must match these. Resources: Textbook, work sheet Vocabulary

Financial position Debt Equipment Overdraft Week 28 Managerial skills Methodology: 1. Draw up a statement of net worth by using personal records. Learners must get information

from their parents about their assets and debts. Then the learners must list the items of value (assets) and their debts (e.g. buying a car on credit). Then from the work sheet provided, they must prepare the statement of value. Use the following example below to show learners how the statement of net worth is prepared.

Malungisa’s Statement of Net Worth, 31 July 2009 FIXED ASSETS Vehicle 60 000 Property 380 000 CURRENT ASSETS Investments 10 000 Cash 2 000 TOTAL ASSETS 452 000 LIABILITIES Loan 180 000 Outstanding accounts 20 000 TOTAL LIABILITIES 200 000 NET WORTH 252 000

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Assessment: Informal assessment Work sheet Provide some data for the learners so that they can draw up this statement on their own. Integration: Mathematics Resources: Textbook, personal records Vocabulary

Investments Property Vehicle

Week 29 Revision

Methodology: 1. Use work sheets, quiz bowl and class test to revise the work of this term.

Assessment: Informal assessment Work sheet, class test and a quiz bowl

Week 30 Assessment

Methodology: 1. In one period you can write the term test. 2. The other periods you use for feedback. 3. Tips to draw up a term test:

o Use a variety of questions in order of complexity. (High level, medium & lower level) o Divide the test in two Sections. o Section A for short questions like:

• Fill in the missing word • Choose the correct word • Match Column A and Column B • True or False

o Use case studies so that learners can: • Answer questions in their own words • Write a paragraph • Give their own opinion with reasons

Assessment:

Formal Assessment

Assessment Task 3 Activity 3: Term Test Marks: 50

Educator records all assessment tasks completed during term 3:

Assessment Task 3 Activity 1: Questionnaire

Assessment Task 3 Activity 2: Design a poster

Assessment Task 3 Activity 3: Term test

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TERM 4 Week 31 and 32 Apartheid policies Methodology: 1. Reflect on work completed in Term 3. 2. Update workbook. 3. Learners reflect on standard of achievement and write down expectations for the new term. 4. Let the learners collect information (research) on apartheid economic policies. Make copies

of this topic out of different textbooks and other resources and make it available in class. Let the learners do research in groups and then let them report back on this topic.

5. Discuss the influence of these policies on:

o Ownership: Native Land Act 1913 – black people can only own land in “reserves” (areas give for special purposes or groups) – these reserves only covered 7,5% of SA – too small area for all the black people – the result: overgrazed.

o Poverty: Over population in these reserve areas lead to black people start looking for jobs in towns. No education or skills, forced to work as cheap labour for mines, industries and commercial farms.

o Wealth: The government protects businesses that offered jobs to white employees. The government also start own businesses (e.g. Eskom) to protect white workers further more. After the economic depression (1929), the National Party protected the jobs of white workers by giving white workers better jobs than black workers.

o Quality: In 1953, Bantu Education Act was passed – less money for black schools than to white schools, meaning black schools had fewer resources. Black people could not belong to labour unions, meaning their lives were strictly controlled by white people and that led to black people unable to get housing and education and even had to do without services like running water, sanitation and electricity.

Assessment: Formal Assessment Assessment Task 4 Activity 1: Research Marks: 30 Integration: Language Social Science

Resources: Textbooks, other resource material, Teacher Guide for Grade 6: Week 12 in Term 2.

Vocabulary Reserves Population Sanitation

Depression Overgrazed Labour unions Week 33 Socio-economic imbalances and Poverty

Methodology: 1. Revise the terms “redress” and “socio-economic imbalances” by asking questions to the

learners. (Orally) 2. Use the Teacher Guide for Grade 6 on page 16 to briefly identify the steps that can be taken

by government to redress historic imbalances and poverty. 3. Use the brainstorming method for revision.

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Assessment: Learner answer questions in workbooks. Integration: Social Science Resources: Textbook, workbooks, prepared questions Vocabulary

Gender equity Affirmative action Employment equity Black Economic Empowerment Land redistribution Rural development Week 34 Savings and Investments Methodology: 1. Make use of a baseline assessment activity to revise the concepts savings and savings

account. 2. Define the following concepts to the learners by using examples:

o Interest: money you receive for depositing money into a bank account. o Investment: it is a kind of long-term savings, this type of savings pay a higher rate of

interest. 3. Discuss short term, medium and long-term savings by giving an explanation of each with

specific examples with each one. Assessment: Informal assessment Baseline assessment activity Integration: Mathematics Resources: Textbook, baseline assessment activity Vocabulary

Interest Investment Deposit Week 35 Savings and Investments Methodology: 1. Discuss the different types of investments by comparing these investments with each other.

o Fixed deposit account: This kind of account you invest a sums of money for a fixed period of time at a fixed interest rate. Receives a higher rate of interest than on a savings account.

o Unit trusts: This is an investment fund where you put an amount of money every month or a large amount once off.

o Investing in property: The main reason for investing in property (residential, business) is for capital growth and/or for earning rental income.

o Investing in insurance policies (short term and long term): Short term insurance is taken out to protect you and/or you business against certain losses like fire. Long-term insurance is taken out to make provision for the future like for education.

o Shares: When you invest your money in a share, you become a part owner of a business. The reason for investing in shares is to earn profit (called dividends) or to speculate (selling your shares at a higher price than you buy it for).

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Assessment: Sketch some scenarios of people who own money that they want to invest. Help these people to find the best type of investment. Let the learners then choose a kind of investment for each scenario and let them give reasons why he/she chooses that specific type of investment. Integration: Language Resources: Textbook, information from banks, newspapers Vocabulary

Rental income Residential Dividends Week 36 Savings and Investments Methodology: 1. Compare the difference between savings and investments by using a table.

Investments Savings

What factors to consider Long term Short term Place/Institutions Insurance companies e.g.

Santam Stock Exchange e.g. JSE

Commercial banks e.g. ABSA Saving schemes Post Office

Risk High risk – can decrease value over the long term

Lower risk

Rate of interest A higher rate of interest Interests at a lower rate Aims Planning for: education,

pension, etc. Planning for: emergencies, expenses, etc.

Assessment: Informal assessment Look in newspapers/magazines for articles on savings and investments. Do the Think-Pair-Share concept. Let the learners first read the article individually (think), then they pair with the learner next to him/her and then they share their findings with the rest of the class. Formal Assessment Assessment Task 4 Activity 2: Case study Marks: 30 Integration: Language Resources: Textbook, newspapers, magazines Vocabulary

Stock exchange Saving schemes High risk Pension

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Week 37 Revision of work Methodology: 1. First you do revision using oral questions, doing a quiz, work sheets, etc. After that, you give

the learners class tests. The feedback on these tests is very important. Assessment: Informal assessment An example of a class test SECTION A 1. Match the correct explanation in Column B with a word in Column A.

Column A Column B 1.1 Controlling (a) Buying a part of a business to earn some

dividends. 1.2 Shares (b) Money in an account for a specific period of

time and receive a high interest. 1.3 Wants (c) Motivating is part of this task. 1.4 Primary sector (d) KOO factory 1.5 Fixed deposit (e) CD player 1.6 Leading (f) Using a checklist to determine quality. 1.7 Needs (g) A house 1.8 Secondary sector (h) Interest 1.9 Free goods (i) Western Deep Gold Mine 1.10 Capital (j) Sea sand

(10) 2. A good advertisement is based on the AIDA principle. Complete the missing words in the

following sentences: (a) It must a………… a………… (b) It must create i…………. to find out more about the product. (c) It must create a d…………. to try the product. (d) It must lead to a…………… to go and buy the product. (5) SECTION B 1. “Have I received all your ideas and suggestions?” Identify this kind of

leadership/management style and give a reason for your answer. (2)

2. You can use a questionnaire as a technique to generate business ideas. Name and briefly

explain TWO other techniques. (4) 3. Answer the following questions regarding DEMAND and SUPPLY. (a) Define the concept DEMAND. (1) (b) Define the concept SUPPLY. (1) (c) Explain the influence of demand and supply on market prices. (6) 4. Name ONE reason why you think it is important to save money. (1)

(30)

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MEMO SECTION A 1.1 f 1.2 a 1.3 e 1.4 I 1.5 b 1.6 c 1.7 g 1.8 d 1.9 j 1.10 h (10) 2. (a) attract attention (b) interest (c) desire (d) action (5) SECTION B 1. Democratic leader - A manager who consults his/her staff before making decisions. (2) 2. Brainstorming: Get ideas from different people in a short time.

Mind mapping: Put the main idea in the middle of a page. Picture the ideas. Link the ideas/keywords/phrases with each other. (4)

3. (a) Demand: The term demand in economics is used to describe how many goods will be

bought at a certain price. (1) (b) Supply: The term supply in economics is what sellers are willing to supply at a certain price. (1)

(c) When there are only a few of the product available (when the product is scares), the price will increase. When the supplier supplies more of that product, the price will drop/decrease. When something gets in fashion (like beads), more consumers will want it, and that will raise the price. When the product get out of fashion (like beads), fewer consumers want the product, that will decrease the price again. (6)

4. Take into account the learners own answer. E.g. for education or for emergencies, etc. (1) (30) Integration: Language Resources: Textbook, workbooks Week 38, 39 and 40 Assessment Assessment: Formal Assessment Assessment Task 4 Activity 3: Examination Minimum: 75 up to 100

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Resources: Textbooks and workbooks. Educator records all assessment tasks completed during term 4: Assessment Task 4 Activity 1: Research Assessment Task 4 Activity 2: Case study Assessment Task 4 Activity 3: Examination