Revised National Curriculum Statement Grades R-9 (Schools) - Grade Seven
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:
- Explains needs and wants and how the differences between them impact on communities and the environment.
- Describes the different types of businesses and activities within the primary,secondary and tertiary sectors.
- Explains the concepts ‘free’ and ‘economic’ (scarce) goods, and the influence of demand and supply on market prices.
- Describes and debates the power relationships, economic rights and responsibilities between:
- consumer and producer;
- employer and employee;
- government and business.
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:
- Collects information on the influence of apartheid economic policies on ownership, poverty, wealth and quality.
- Identifies steps required to redress socio-economic imbalances and poverty.
- Compares and discusses the difference between savings and investments.
- Discusses the meaning of productivity.
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:
- Explains the role of planning, organising, leading and controlling (e.g. financial and procedural controls) in a business.
- Discusses different approaches to leadership and management.
- Describes the importance of administration in managing a business (record keeping, storing documentation).
- Discusses the use of technology in telecommunication services (e.g. cell phones)and financial transactions (e.g. ATM, Internet) in improving administration, communication and access to information.
- Draws up an elementary statement of net worth, using personal records.
- Explains the different processes of human resource management.
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:
- Compares essential characteristics and skills needed to be entrepreneurial from two different simple case studies of practising entrepreneurs in own community.
- Uses idea generation techniques to make recommendations on using community resources to generate income in a responsible way.
- Participates in a joint venture between the school and the community/parents by taking ownership of producing a product or service.
- Runs a business event using one or two of the ideas or opportunities identified in a questionnaire that had been designed.
- Designs posters or other materials to advertise own business venture.