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Economic and management sciences

Grade 6

The economic cycle

Module 1

From birth to death, every person forms part of a country’s economic cycle. At birth everybody starts as a dependant and becomes dependent again when they grow old, but for the biggest part of our lives we are prepared to be able to make a contribution to the growth and stability of the country’s economy. You will now be taken through the cycle step by step and it is hoped that you will understand very clearly what your specific role in South Africa’s economy is and will be.

At home

This is the phase in which you have been since birth. It is definitely the best and most carefree phase of all, but also the phase that everybody wants to pass the quickest. We cannot wait to earn our first salaries and spend the money!

During this phase you are a LEARNER. From the moment you make your first sound, everybody wants to teach you the whole time. When you are not reacting to deliberate instructions, you are unconsciously following others’ example. As you become older, you develop a strong will of your own and often make mistakes in an effort to prove that your own way of doing things is BETTER than the prescribed and tested way.

During this phase of your life you are mainly a consumer and do not really make a positive contribution to the country’s economy. However, there are some entrepreneurs who manage to generate funds quite successfully at an early age.

The student

This is the phase that usually starts just after your formal school education. This is when you are prepared for the world of work or labour market. You are prepared to start your career. Sometimes you study full time, but often you are trained while you are in the practical situation – when you are already busy with the work that you want to do. You mainly remain a consumer and mostly contribute to the economic cycle only through part-time income.

Many people know from a very young age exactly what career they want to follow one day. Others only discover their true talents after they have been exposed to the practical situation. The training processes for careers also differ drastically. For some careers you have to follow a theoretical course for a number of years, while others are a combination of practical training and theoretical work.

Then there are persons who, with the exceptional talents they have received, decide to start their own businesses in a specific field. Mrs X, for example, is very good at sewing and she makes the most beautiful clothes for children, which she sells at flea markets, while Mr Y learnt from his father how a car engine works, and has become a very successful mechanic.

The labour market

This is the phase to which most young people look forward a lot. Now you can do what you want with the money you earn. Now you do not have to depend on your parents any longer. Your own car, your first flat, carefree times…

The responsibility of a budget that has to balance, however, jerks most people back to reality. It is hard work and your salary does not go nearly as far as you thought it would. Together with this you have the responsibility of a career. If you want to progress in your career, you have to work long hours.

Questions & Answers

Discuss the differences between taste and flavor, including how other sensory inputs contribute to our  perception of flavor.
John Reply
taste refers to your understanding of the flavor . while flavor one The other hand is refers to sort of just a blend things.
Faith
While taste primarily relies on our taste buds, flavor involves a complex interplay between taste and aroma
Kamara
which drugs can we use for ulcers
Ummi Reply
omeprazole
Kamara
what
Renee
what is this
Renee
is a drug
Kamara
of anti-ulcer
Kamara
Omeprazole Cimetidine / Tagament For the complicated once ulcer - kit
Patrick
what is the function of lymphatic system
Nency Reply
Not really sure
Eli
to drain extracellular fluid all over the body.
asegid
The lymphatic system plays several crucial roles in the human body, functioning as a key component of the immune system and contributing to the maintenance of fluid balance. Its main functions include: 1. Immune Response: The lymphatic system produces and transports lymphocytes, which are a type of
asegid
to transport fluids fats proteins and lymphocytes to the blood stream as lymph
Adama
what is anatomy
Oyindarmola Reply
Anatomy is the identification and description of the structures of living things
Kamara
what's the difference between anatomy and physiology
Oyerinde Reply
Anatomy is the study of the structure of the body, while physiology is the study of the function of the body. Anatomy looks at the body's organs and systems, while physiology looks at how those organs and systems work together to keep the body functioning.
AI-Robot
what is enzymes all about?
Mohammed Reply
Enzymes are proteins that help speed up chemical reactions in our bodies. Enzymes are essential for digestion, liver function and much more. Too much or too little of a certain enzyme can cause health problems
Kamara
yes
Prince
how does the stomach protect itself from the damaging effects of HCl
Wulku Reply
little girl okay how does the stomach protect itself from the damaging effect of HCL
Wulku
it is because of the enzyme that the stomach produce that help the stomach from the damaging effect of HCL
Kamara
function of digestive system
Ali Reply
function of digestive
Ali
the diagram of the lungs
Adaeze Reply
what is the normal body temperature
Diya Reply
37 degrees selcius
Xolo
37°c
Stephanie
please why 37 degree selcius normal temperature
Mark
36.5
Simon
37°c
Iyogho
the normal temperature is 37°c or 98.6 °Fahrenheit is important for maintaining the homeostasis in the body the body regular this temperature through the process called thermoregulation which involves brain skin muscle and other organ working together to maintain stable internal temperature
Stephanie
37A c
Wulku
what is anaemia
Diya Reply
anaemia is the decrease in RBC count hemoglobin count and PVC count
Eniola
what is the pH of the vagina
Diya Reply
how does Lysin attack pathogens
Diya
acid
Mary
I information on anatomy position and digestive system and there enzyme
Elisha Reply
anatomy of the female external genitalia
Muhammad Reply
Organ Systems Of The Human Body (Continued) Organ Systems Of The Human Body (Continued)
Theophilus Reply
what's lochia albra
Kizito
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Source:  OpenStax, Economic and management sciences grade 6. OpenStax CNX. Sep 08, 2009 Download for free at http://cnx.org/content/col11013/1.1
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