<< Chapter < Page Chapter >> Page >

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.


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


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.


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

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
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
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.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
Privacy Information Security Software Version 1.1a
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get the best Algebra and trigonometry course in your pocket!

Source:  OpenStax, Economic and management sciences grade 6. OpenStax CNX. Sep 08, 2009 Download for free at http://cnx.org/content/col11013/1.1
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 6' conversation and receive update notifications?