Revised National Curriculum Statement Grades R-9 (Schools) - Grade Four
Learning Area: Economic and Management Sciences
Learning Outcome 1: The Economic Cycle
The learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of ‘the economic problem’.
Assessment standards
We know this when the learner:
- Describes the roles of members of households as consumers and producers in the ‘need satisfaction’ process.
- Explains the effects on the community of both responsible and irresponsible use of resources and services.
- Describes the role of formal and informal businesses in a society.
- Explains the concept of tax in simple language.
Learning Outcome 2: Sustainable Growth and Development
The learner will be able to demonstrate an understanding of sustainable growth, reconstruction and development, and to reflect critically on its related processes.
Assessment standards
We know this when the learner:
- Identifies the differences in the standards of living of highly developed and subsistence economies.
- Describes the economic and social impact of the discovery of minerals in South Africa (e.g. job creation, wealth creation, exploitation of cheap labour, migratory labour, health and safety hazards).
- Identifies the local community’s efforts in fighting poverty (e.g. RDP, urban renewal and rural development projects).
Learning Outcome 3: Managerial, Consumer and Financial Knowledge and Skills
The learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial, consumer and financial skills.
Assessment standards
We know this when the learner:
- Participates in the management of a classroom project (planning, organising, leading, controlling).
- Distinguishes three different types of local businesses:
- trading (e.g. spaza shops, flea markets, car boot sales, shops);
- manufacturing (e.g. brickyard, bakery, factory);
- servicing (e.g. taxi, hairdresser, hotel, bed and breakfast).
- Identifies different sources of personal income, and plans spending and saving by drawing up a basic personal budget.
- Investigates the use and purpose of a savings account.
Learning Outcome 4: Entrepreneurial Knowledge and Skills
The learner will be able to develop entrepreneurial knowledge, skills and attitudes.
Assessment standards
We know this when the learner:
- Identifies different characteristics (abilities and talents) of entrepreneurs.
- Explains how entrepreneurs combine labour (work), capital (money, machinery, tools), and natural resources (raw materials) to gain profit.
- Differentiates between the entrepreneurial actions of buying, selling and producing.
- Participates in a fair or market day at school or in the community to practice and apply entrepreneurial knowledge and skills.