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Economic and management sciences

Grade 7

Economic principles

Module 1


How often have you wished that you were able to generate your own income to be independent of your parents? You’ve imagined this to be impossible? Consider it again!

  1. Self-employment in South Africa

No lazing around for young Crossroads boy

By Sobantu Xayiya

An 11-year old boy from Crossroads who could not gain entrance to school has started his own barber’s concern.

Xolisa Mgusholo, the young entrepreneur from the Transkei, says that he started his enterprise because he did not want to just sit around for a year.

“When I came from the Transkei at the beginning of the year, I tried really hard to gain entrance to a school, but all the schools were full and they said I should try again next year,” he said this week.

“I did not want to be bored and unoccupied, so I started cutting hair. Nobody showed me how to do it . . . I just trusted my instinct and taught myself as I went along. At first I used a pair of scissors, and practised on my family, for R2 a head.”

“When I had earned enough money, I bought an electric cutter for R113 and then my enterprise took off,” he said.

“The number of customers grew and I needed to work faster.”

Customers came to his house, but when they could not do that, he went to their houses.

His customers vary from toddlers to scholars, as well as “Oobhiti” – older people – and he now charges R5 per person.

With the approaching festive season in sight, the young entrepreneur plans to buy a second electrical cutter “because I do not want to disappoint my customers”.

Xolisa says he is not afraid of competing with established town barbers.

“The people know me and they will come to me for as long as I satisfy them.”

All his profit goes to his mother Alice, a domestic worker, to help the family.

One of his customers, Xolili Khambi, 13, says that he decided to support Xolisa when he saw how he had cut his brother’s hair.

“He did a good job,” he said.

Xolisa has about eight customers a day and makes up to R32 in profit over weekends.

From: Sunday Times Cape Metro , 21 November 1993

  1. Self-employment in other countries

The number of people working for themselves is increasing worldwide.

Activity 1:

To interpret statistics and make inferences

[lo 1.2]

Study the following table, interpret the statistics and draw conclusions

Self-employment in various countries
Country Self-employment
USA 1 in 12
JAPAN 1 in 7
BRITAIN 1 in 10
HONG KONG 1 in 8
  • Which country has the lowest percentage of people in the labour market working for themselves?
  • Which three Eastern countries have a strong focus on self-employment?
  • Make a list of household articles produced in these countries. What deductions can be made from your list?
  • Convert the above statistics to percentages and present the information in a block graph.

The reason why so few South Africans create their own employment is to be found in the very strict labour regulations that used to exist and which made it very difficult for an individual person to obtain permission to start his/her own business. Compared to other countries, much of South African economic activity was centred in a small number of large businesses.

Questions & Answers

what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
How can I make nanorobot?
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
how can I make nanorobot?
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 7. OpenStax CNX. Sep 10, 2009 Download for free at http://cnx.org/content/col11025/1.1
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