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Economic and management sciences

Grade 6

The economic cycle

Module 2

Work / income

A family is a group of people of which you are a member. All families do not have the same composition. Some consist of a father and mother with children, while others have only a father or a mother with children. However, the composition does not matter, as everybody works together to meet the others’ needs. Your parents usually generate the income to pay for all the services and products required by the family.

Inside the family is also an economic system. While Dad, and sometimes Mom too, are the main providers of the family’s income, children often receive an amount of pocket money from their parents that they have to manage in a judicious and responsible manner. The pocket money is sometimes supplemented with other amounts that are received on birthdays. This often encourages children to open a savings account at the bank. In this way many children become part of the economic cycle at an early age.

The members of a family try to maintain the highest possible standard of living. They work in order to generate an income that will meet their basic needs. The more a household earns, the higher their standard of living will be.

People work in exchange for money. This is known as an income. The money is then used to obtain the goods and services required to survive. The more money you earn, the bigger your contribution to the economic cycle of the country will be, and the better everybody’s quality of life will be.

Unemployment

However, everybody does not have a job, and such people are called unemployed.

Assignment

Discuss in your groups the issues with regard to unemployment and make a poster to present your views.

  • Do you know anyone who is unemployed?
  • How is that person’s standard of living and state of mind affected by the fact that he/she is unemployed?
  • Does he/she want to work?
  • Is unemployment a problem in our country?
  • What do you think are the main causes of unemployment in SA?
  • What does the government (locally and nationally) do about the problem?
  • What other suggestions can you make to resolve this problem?

[LO 2.3]

How do you decide what career to pursue? Sometimes a boy or a girl follows in their parents’ footsteps. At other times children select careers that differ from those that their parents had in mind for them. One of the most important requirements when choosing a career is that you must enjoy what you are doing – particularly if you are the breadwinner, because then you have to continue your career for a big part of your life while your family depends on you.

Every person has specific interests and preferences and you must try to reconcile these interests with your choice of a career. That is a winning recipe for job satisfaction!

CASE STUDY: Meet Jonathan de Wee
Klaas de Wee Jonathan de Wee
Meet Jonathan de Wee. He is 24 years old and grew up near Cape Town. He passed Grade 10 at the Excelsior High School in Belhar.Jonathan grew up in a family where his father and cousin were builders, and from an early age he spent weekends and holidays on the building sites. His father, Klaas de Wee, is a well-known builder, and his cousin, Gert Whites, learnt from Klaas how to build. Jonathan loves the outdoors and decided early on in his life that an academic career did not interest him a lot. His father tried to teach him as many building skills as possible and tried to provide him with as much knowledge of the building industry as possible, and at the end of Grade 10 Jonathan decided to exchange his schoolbooks for cement, bricks and a trowel.He is doing very well in his job and is already attempting large projects on his own. His father is close to retirement and Jonathan will soon take over the business from him.

Assessment

Learning Outcomes(LOs)
LO 1
THE ECONOMIC CYCLEThe learner is able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.
Assessment Standards(ASs)
We know this when the learner:
1.1 describes the roles of households, businesses and government in the economic cycle;
1.4 explains different types of taxes and how they influence consumers and businesses.
LO 2
SUSTAINABLE GROWTH AND DEVELOPMENTThe learner will be able to demonstrate an understanding of sustainable growth, reconstruction and development, and to reflect on related processes.
We know this when the learner:
2.3 identifies steps that can be taken by the government to redress historic imbalances and poverty (e.g. redistribution of resources, gender equity, capacity building, restoring people’s dignity, creating opportunity and empowerment).

Questions & Answers

Application of nanotechnology in medicine
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
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
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
hi
Loga
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
how did you get the value of 2000N.What calculations are needed to arrive at it
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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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