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Economic and management sciences

Grade 5

Look before you leap

Module 9

The basic economic unit of a community

See if you can guess this: What is the basic economic unit of a community? You’re right – it is the household! Each member of the group of people living in your home has a specific role to play and function to fulfil! Each member is a role player who has to accept responsibility for certain tasks so that the housekeeping will run smoothly.

Assignment 1

Provide a brief written sketch of the role players in your family.

Assignment 2

What contribution does each of the members of your family make to the economy?

Which members are: Family members
consumers of goods and services?
performers of labour in the economy?

Do you realise that each member of the family buys goods and services to meet your specific needs? Everyone, therefore, is a CONSUMER.

[LO 1.1]

BACKGROUND:

What are goods ?

They are tangible objects that can be bought, e.g. groceries, bedding, furniture, cleaning agents, etc.

What are services ?

Services are intangible. They cannot be handled or seen. In the economy two kinds of services are rendered, namely:1. personal services, e.g. medical care, education, hair care, etc.2. commercial services, e.g. transport, banking, assurance, advertising, etc.

Assignment 3

Indicate which kind of service is described in each of the following instancesby placing a tick in the appropriate column:

Personal Commercial
  1. Mother has her hair cut each month.
  1. My big sister has her legs waxed for the matric social.
  1. My little brother is in the pre-primary class.
  1. Dad banks his salary every month.
  1. My parents take out a policy in my name to pay for my future studies.
  1. Grandpa is coming to visit us for the holidays. He will travel by train.

[LO 1.1]

To be able to buy goods and services, some of the adults in your family have to provide labour (work) to generate the required funds. It is of great importance that the household is managed well to achieve a balance between income and expenditure.

BACKGROUND:

What is a manager ?

A manager is someone who is responsible for controlling something, e.g. a school, a sports team, a business. A manager is in control of people who need guidance and direction to reach their objectives.

Your parents manage their household, because they take most of the decisions for the running of the household. The basic functions of a manager involve PLANNING, ORGANISING, GUIDANCE AND CONTROL.

BACKGROUND:

What does each of these management functions involve?

Planning : the management decides what has to be done.

Organising : the management decides how it has to be done.

Guidance : the management decides how and when it has to be done.

Control : the management checks whether instructions have been carried out.

Assignment 4

Your mother is in control of preparing food in your home. Indicate the management function that she is executing alongside each description.

Action Management function
The family will have a savoury tart, a green salad and bread rolls for supper.
Mum makes the savoury tart. My big sister makes the salad. My little brother butters the rolls at six o’clock.
Mum shows each one how to prepare the food and encourages us.
Mum calls us to sit down to supper at 19:00.

[LO 1.1]

Assignment 5

The class in which you are is an economic unit managed by the class teacher. Explain, in one clear sentence each, how the four management functions are applied in the classroom with regard to homework.

Planning:

Organising:

Guidance:

Control:

[LO 3.1]

Assessment

LO 1

THE ECONOMIC CYCLE The learner is able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.

We know this when the learner:

1.1 differentiates between the different levels of needs that people have, and explains how these might be satisfied;

LO 3

MANAGEMENT, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS

The learner is able to apply and demonstrate, in a responsible manner, knowledge as well as a range of management, consumer and financial skills.

We know this when the learner:

3.1 participates and demonstrates some management and leadership roles in the classroom and home in the absence of adults;

Memorandum

Assignment 1

The teacher can explain to the class what a community is (a group that belongs together / has a feeling of solidarity) and then learners can complete Assignment 1.

Answers may differ.

Assignment 2

The teacher can discuss the role played in the economy of our country by its inhabitants. Thereafter each learner can complete it individually.

1. children, parents

2. parents, domestic worker, gardener

Assignment 3

  • The difference between goods and services, as well as the difference between personal and commercial services must be explained to the learners. No. 1 of the assignment can be completed as a class group and thereafter the assignment can be completed individually.

1. Personal (hair care)

2. Personal (skin care

3. Personal (education)

4. Commercial (banking)

5. Commercial (policies / insurance)

6. Commercial (transport)

Assignment 4

  • The purpose of having a manager and the different management functions can be discussed with the learners. The assignment can be completed thereafter.

1. planning

2. organisation

3. guidance

4. control

Assignment 5

  • Four different sentences that describe each management function can be written on the board. Each learner decides which statement is to be written next to each function and writes it down. It can then be checked.

1. The teacher decides which work is homework.

2. The teacher divides the homework into meaningful tasks.

3. The teacher explains how the work must be done and when it should be finished.

4. The group leaders check whether the homework has been written down, signed and done properly.

Questions & Answers

what is variations in raman spectra for nanomaterials
Jyoti Reply
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
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
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
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
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.
Bharti
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
Daniel
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 5. OpenStax CNX. Sep 05, 2009 Download for free at http://cnx.org/content/col10974/1.1
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