Revised National Curriculum Statement Grades R-9 (Schools) - Grade Six
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 households, businesses and government in the economic cycle.
- Compares the rights and responsibilities of each of the participants in the production and consumption of resources and services.
- Presents different flows of resources and services in the economic cycle (e.g. the flow of wages to households in exchange for labour; the flow of money to businesses in exchange for goods and services).
- Explains different types of taxes and how they influence consumers and businesses.
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:
- Researches and analyses standards of living and patterns of consumption in modern societies where people specialise and trade to satisfy needs and wants.
- Explains economic actions taken against the apartheid government to bring about change (e.g. sanctions, disinvestment), and how these impacted on change, growth and development.
- 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).
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:
- Understands and participates in the production process, from raw materials to final products, including waste products.
- Explains the relationship between leadership and management in a business.
- Explains the concept of debt and compares the banking and savings facilities offered by different banks.
- Explains the purpose and use of community savings schemes (e.g. stokvels, club accounts, funeral societies, thrift and loan societies).
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:
- Analyses personal strengths and weaknesses in becoming an entrepreneur.
- Identifies a variety of possible business opportunities in the community (school co-operatives, sports, entertainment, tourism).
- Designs an advertising campaign to promote a product that will generate a profit.
- Develops and implements a simple business plan for a trading or service business that could be operated from school or from home.
- Describes how the four elements of the marketing mix are combined in a simple business activity.