<< Chapter < Page Chapter >> Page >

ECONOMIC AND MANAGEMENT SCIENCES

Grade 4

HOW PEOPLE MAKE A LIVING

Module 3

THE ENTREPRENEUR

Entrepreneurship

We saw in the first two modules that all people try to achieve the highest standard of living that is possible for them. To be able to do this, they have to earn money by working for it. Some people know from childhood what work they want to do, but others only make this important decision once they have left school. Do you know what you would like to do one day?

Here are some examples of what you might become:

If you like working with your hands and are interested in machinery, you could consider becoming one of the following:

engineer

car mechanic

Perhaps you like plants and could become a:

florist

manager of your own nursery

farm manager

botanist

If you like working with numbers:

bank teller

clerk

actuary

accountant

If science fascinates you: scientist

laboratory assistant

pharmacist

medical practitioner

There also are many more possibilities.

All people, as we have mentioned before, do not work for large firms. Many decide to start their own businesses. They are called entrepreneurs.

The entrepreneur

We need entrepreneurs in our country. The government and the owners of larger businesses are not able to provide enough work for everyone. People need to create their own work and use their own talents to create job opportunities for themselves and also for other people.

Being self-employed (working for yourself) has many advantages. Can you think of some of these advantages? (First discuss it in small groups).

That’s right! As an entrepreneur you can:

  • work for yourself;
  • work when you want to;
  • use your talents and skills to your own advantage;
  • gain experience in the field in which you have an interest;
  • earn good money if you manage your business properly;

You must be willing to work hard and manage your business properly to be able to make a success of what you do.

An example of an entrepreneur

Activity 1

To learn how to make a profit [LO 4.2, 4.3]

Sonja is a Grade 4 learner who likes to make her own fancy paper. She sells it at the school’s market day and makes specific kinds of paper to order. She has borrowed money from her mother to buy the equipment she needs to start.

Let’s try to help her find our whether her “business” will be worthwhile. Will she earn enough money from it?

To make 100 sheets of paper, she will need:

6 rolls of toilet paper @ ± R1, 45 per roll

2 filter cloths @ ± R0, 60 per cloth

water

½ cup bleach (Jik) @ ± R0, 50

She parcels the paper in packets of 10 sheets with envelopes that are also made from her own paper. She ties the packets with a ribbon (50c) and prices them at R5 each.

  1. What does it cost her to make 100 sheets of paper with envelopes to match and to parcel them in packets of 10?
  1. How much will she receive if she sells all the packets?
  1. Will she have any money left over after she has paid her mother for what she borrowed from her at the beginning? How much?

It seems as if sonja’s business could be quite profitable if she plans well. wouldn’t you also like to become an entrepreneur?

Competition

Business people aim to provide products and services that are needed by consumers. Because of this, we have a baker who provides bread, a chain store that sells food, a clothing shop where we can get the clothing we need, etc. But what will happen when there is more than one baker, chain store or clothing shop? From whom will you as a consumer be buying?

Questions & Answers

where we get a research paper on Nano chemistry....?
Maira Reply
nanopartical of organic/inorganic / physical chemistry , pdf / thesis / review
Ali
what are the products of Nano chemistry?
Maira Reply
There are lots of products of nano chemistry... Like nano coatings.....carbon fiber.. And lots of others..
learn
Even nanotechnology is pretty much all about chemistry... Its the chemistry on quantum or atomic level
learn
Google
da
no nanotechnology is also a part of physics and maths it requires angle formulas and some pressure regarding concepts
Bhagvanji
hey
Giriraj
Preparation and Applications of Nanomaterial for Drug Delivery
Hafiz Reply
revolt
da
Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
ya I also want to know the raman spectra
Bhagvanji
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
Damian
yes that's correct
Professor
I think
Professor
Nasa has use it in the 60's, copper as water purification in the moon travel.
Alexandre
nanocopper obvius
Alexandre
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
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
Rafiq
if virus is killing to make ARTIFICIAL DNA OF GRAPHENE FOR KILLED THE VIRUS .THIS IS OUR ASSUMPTION
Anam
analytical skills graphene is prepared to kill any type viruses .
Anam
Any one who tell me about Preparation and application of Nanomaterial for drug Delivery
Hafiz
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
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
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play




Source:  OpenStax, Economic and management sciences grade 4. OpenStax CNX. Sep 17, 2009 Download for free at http://cnx.org/content/col11086/1.1
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Economic and management sciences grade 4' conversation and receive update notifications?

Ask