EMS Classic Grade 7 Educator’s Guide - Excom Publishersexcompublishers.co.za/wp-content/uploads/2018/04/... · Economic and Management Sciences – Grade 7 Classic Educator’s

Educator’s GuideEMS Classic Grade 7

Yvette Russell | Lisa Akerman | Séan Topper | Cathlyn Dracatos

CAPS Aligned

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Economic and ManagementSciences – Grade 7 Classic

Educator’s GuideCAPS Aligned

Lisa Akerman

Séan Topper

Yvette Russell

Cathlyn Dracatos

PTY LTD

iii© 2018 Excom Publishers

EMS Classic Grade 7 Educator’s Guide PTY LTD

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iv

EMS Classic Grade 7 Educator’s Guide Table of Contents

© 2018 Excom Publishers

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Chapter 1 The Economy 1

Chapter 2 Financial Literacy 9

Chapter 3 Entrepreneurship 19

NOTE 1: Learners will need bank application forms for opening a savings account. Educators are encouraged to organise that these are available for learners, or give the learners forewarning to collect some. Deposit slips are also useful, ideally from different banks

NOTE 2: The theory on entrepreneurial businesses is covered in various sections. At the end of the book there are Entrepreneurial Worksheets which learners can use to plan and run their own businesses for an Entrepreneurship Day.

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EMS Classic Grade 7 Educator’s Guide Chapter 1


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TASK 1.1

Research activity: The Mint

1. Old Johannesburg Road, Gateway, Centurion, South Africa

2. 6 different coins: 10c, 20c, 50c, R1, R2, R5 NOTES:

◦ The 1c and 2c coins were discontinued on 31 March 2002, so if you have any, keep them as they are now collectors items!

◦ The 5c coin was discontinued in 2013, but is still in circulation and can be used as legal tender.

◦ This also means that prices must be rounded up or down to the nearest 5c.

3. E.g. R5 coin- South Africa’s first bi-metal coin (has a “yellow” centre with an outer “white” ring) the Black Wildebeest or Gnu is portrayed on the reverse of the coin, the words “South Africa” appear on the obverse of the coin in one of South Africa’s 11 official languages (which rotate annually), it weighs 9g and has a diameter of 26mm

4.

5. A coin has six distinct features by which a blind person can identify it: size, thickness, shape (not all are entirely round) pattern of grooves round the edge, the sound it makes when dropped onto a table and the raised picture on the face.

http://www.samint.co.za/

Chapter 1: THE ECONOMY

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TASK 1.2

Case study – Individual Work: Coins and Notes

1. Time line must show dates and events in a chronological order. Depending on which source the learners used, these timelines will differ.

2.& 3. DENOMINATIONS COLOUR ANIMAL INDUSTRY

R10 Green Rhino Agriculture

R20 Brown Elephant Mining

R50 Red Lion Manufacturing

R100 Blue Buffalo Tourism

R200 Orange Leopard Transport & Communications

4. The feel of the paper, characteristic sound, print quality, intaglio/raised printing, micro lettering, unique numbering, fluorescent feature, window security thread, watermark, perfect registration, main motifs, themes, sizes, diamond shapes, iridescent band, different geometric shapes, latent image, optically variable ink, denomination numerals

5. Diamond shapes: The dots on the front that assist the blind to distinguish between the denominations have been replaced with diamonds: 1 diamond for the R10, 2 diamonds for the R20, 3 diamonds for the R50, 4 diamonds for the R100, and 5 diamonds for the R200. Different geometric shapes: These have been added to the front of the banknotes as an aid for the partially sighted: diamond on the R10, square on the R20, circle on the R50, and different hexagons on the R100 and R200. (Intaglio/raised printing could also be an answer)

NOTE: Download the poster from the site below - there are many other interesting features for students to look at and learn about our legal tender.

http://www.resbank.co.za/AboutUs/PublicAwareness/Documents/A5%20all%20banknotes%20poster.pdf

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TASK 1.3

Barter Role Play (Group Work)

This is not a formal assessment, but an opportunity for them to learn through groupwork and active learning.

Students can go back to “The History of Money” or research further information. Ensure that they understand that it is the exchange of goods, with no money involved.

TASK 1.4

Needs and Wants

WANTS NEEDS

Coke A house

A pet Clothes

A caravan A jersey

Watching a movie A meal

A Billabong T-shirt

An overseas holiday

A magazine

A fully automated house

A school book

Love

Education

TASK 1.5

Citizens’ needs

Some ideas could include: food, shelter, clothing, education, healthcare, peace, racial tolerance, democracy, security, international trade

Ensure that students identify a specific country, and consider their needs. They can also research and find out more about smaller countries on the African continent.

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TASK 16

Resources

Resources are important because they are used to make goods, like television, cars & houses and to provide services, like banking, insurance and transport.

All of these resources are scarce. Any resources that are not scarce are called free goods.

Wants are unlimited but the resources used to produce the goods and services to satisfy these wants are limited. That is, there is scarcity. Choice is necessary because scarce resources can be used in lots of ways to make different goods and services. The real cost of choosing one thing and not another is known as the opportunity cost.

TASK 1.7

Tom and Thando

1.

FACTORS OF PRODUCTION REWARD EXAMPLE

Capital Interest R1000 000

Entrepreneurship Profit Tom

Land Rent 1 000m2

Labour Wages Thando

2. Wage

3. Salary, month

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TASK 1.8

Fun Task: Conrad the Coin

Some ideas could include:

○ Travels: in a pocket, in a wallet, in a till, in a car door

○ Products: food, clothing, electronics, books, stationery, jewellery

○ Services: going to the doctor, paying school fees, school tuckshop, seeing a movie

TASK 1.9

Production Poster

Must resemble the layout of the example but use a pair of denim jeans as the example.

Raw Materials: 100% cotton twill weave. The belt loops, waistband, back panel, pockets, and leggings of a pair of blue jeans are all made of indigo-dyed denim. Other features of blue jeans include the zipper, buttons, rivets, and label. Rivets have been traditionally made of copper, but the zippers, snaps and buttons are usually steel.

Students need not identify all the aspects, but must realise that there are a lot of different components and work back to the primary products.

Ensure that they delineate the Primary, Secondary and Tertiary Sectors to show that they understand them.

TASK 1.10a

Paper Aeroplanes

1. Give them some time to look at instructions and discuss before starting the stopwatch.

2. Look for good work and possible flaws due to rushing. Did they follow instructions regarding the markings being exact?

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TASK 1.11

Greening our world

1. Being environmentally friendly to reduce the impact on the environment linked with using resources.

2. Using suppliers who provide sustainable resources, using bio-degradable materials and packaging and any other valid points.

3. Recycling as much as possible, conserving energy (like electricity), installing solar panels and any other valid points.

4. Same as 2 & 3 but must be individualised - i.e. if they are already recycling, could they harvest rain water or use grey water etc.

5. Greenwashing is when companies pretend to be environmentally friendly, but are not actually doing it. They may use it as false PR or advertising, but not actually follow through on the policies.

6. Any relevant examples. Let students look at celebrities they know: sports, movies, music and discuss how they influence their fans to support their green causes.

7. Ensure the article is about sustainability and the green economy and encourage students to discuss the issues in each article.

Make sure that they reference the articles that they use properly.

TASK 1.10b

Paper Aeroplanes

Productivity discussion could include:

○ Worked better as a team

○ Communicate more effectively

○ We each had specific roles and responsibilities

○ We set goals and worked towards them

○ Set up production line for efficient working

○ Learnt from previous mistakes and comments from Educator

○ Any other valid point

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TASK 1.13

Technology

1. Answers could include: Emails, Facebook/Social networking, research, games, downloading music

2. Ensure that they estimate time per day. BUT - discuss how they arrived at this conclusion, (it is very likely to be underestimated!) and if it is accurate. Encourage them to keep a diary to monitor screen time for a week and then discuss again. A webinar is a seminar over the internet. A presenter or lecturer controls it and it can happen in one of two ways:

Participants log into a common site at the same time and can interact by typing questions into a sidebar which is screened by someone and forwarded to the presenter. Some live webinars enable discussion groups.

The presentation could be recorded and participants watch at their convenience. There is often then a helpline where they can ask questions or raise issues individually.

3. Social networking sites could be used for advertising and gathering market research, smart-phones can be used to store and transport documents and presentations, smart-phones can allow video calls to replace actual meetings, smart-phones can be used to plan and organise schedules and meetings, any other relevant.

4. Cleaning, maintenance, water & electricity, refreshments, internet, phone bills, any other relevant.

5. Emails, phone calls, social networking sites, blogs, Whattsapp, SMS, Twitter... any other relevant.

TASK 1.12

Automation

Identify six examples of where machinery has replaced human labour:

Technology Jobs

ATMs Bank Tellers

Emails Postal workers

Online check-ins Airport Personnel

Computerized call centers Man telephone exchanges

Farming equipment Farm labourers

Sewing machines Sewers (clothes makers)

Radio controls (e.g. Gautrain) Train drivers

Any other relevant examples.

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TASK 1.16

Urban and Rural Challenges

Make a list of challenges that exist in urban and rural areas.

Urban Rural

Pollution Illiteracy

Traffic congestion Inaccessible/insufficient transport routes

Overcrowding Poor service delivery (like healthcare and water and electricity)

Crime Unemployment

Inadequate infrastructure Poverty (linked with subsistence living)

Any other relevant.

TASK 1.15

Article on Imbalances in South Africa

Ensure the name of the article, where it was found, and the date it was written is included, and that it is relevant to the topic. Can students identify further issues from the article to add to task 1.14 suggestions?

TASK 1.14

Inequality in South Africa

1. Any words can be chosen as long as they are linked to socio-economic problems such as poverty, unemployment, legacy of apartheid, HIV/AIDS etc. Ensure that they explain effect on self or community.

2. Any relevant suggestions e.g.

○ Government: less corruption, more transparency, better application of policies and programs e.g. social grants

○ Municipality: Cleaner streets, better maintenance, more job creation, higher efficiency

○ LCO’s: Increased awareness of what they do, better fund-raising, efficient handling of resources

○ School: Recycling, less use of resources, educating staff, students and parents on these issues (E.g. having an environmentally friendly market day)

○ Family: Handing down clothing and school materials that someone else can use, recycling, ethical buying

○ Student: Not wasting (e.g. throw away lunches), cleaning up and not littering, supporting local charities, staying fit and healthy

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TASK 2.1

Accounting Collage

Ensure 6 assets and 6 expenses have been included and labelled in the correct category.

Assets: Land and Building (NC), machinery/equipment (NC), vehicles (NC), trading stock (C), debtors (C), petty cash (C), bank (C), cash float (C)

Expenses: Water and electricity, insurance, telephone, wages, salaries, trading licence, stationery, rental expense, advertising, repairs

TASK 2.2

Accounting

Blue: Assets

Green: Liabilities

Red: Owner’s Equity

Adjodrawingswieirfkrentincomeasdkflajfkdjvehiclesieuwoequipmentwifjdfkrtjf

tradingstockwoieajrfjcreditorsdebtorskflfjoeuozcmkcapitalwoieutelephonewoie

flaptopeoiruiefurnitureowiejfdkloanwoiefjfixeddepositwoiefjlandandbuildingslad

kfjdlstationerylskfdkjfkdlpackingmaterialfalkfjdlsalarywoeifscurrentincomewoief

kdlsinterestexpensealkdfjkdoibankwoeifjpettycashdlkfwoeicashfloateoijfdkl

Chapter 2: FINANCIAL LITERACY

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TASK 2.3

Budgets

Budget for Halisha for the month of May 20xx

Forecast Actual

INCOME: 300 345

Pocket Money 200 200

Dog walking 100 (100+45)=145

EXPENSES:

Present for Mother’s Day 80 80

Toiletries 50 50

Movie Tickets 50 50

Tuckshop 30 30

Gift 0 25

TOTAL EXPENSES 210 235

INCOME NOT SPENT (SAVINGS) (300-210)=90 (345-235)=110

Paragraph: Some incomes and expenses are not always predictable

R110

TASK 2.4

Personal Budget

Ensure figures are realistic for a grade 7 student and, that incomes and expenses are relevant to each student’s individual interests. The budget must stick to the format in Task 2.3

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TASK 2.5

Luke and Lisa

Budget for Luke and Lisa for the months of July and August 20xx

July 20xx August 20xx

Income:

Salary after deductions and tax (8 500+6 450)=14 950 (8 500+6 450)=14 950

Total receipts 14 950 14 950

Expenses:

Rent 4 000 4 000

Water and electricity 120 130

Fuel and transport expenses 80 100

Food 400 400

Toiletries 90 95

Clothing 250 200

Entertainment 75 80

Cell phone (200+150)=350 (200+150)=350

Total payments 5 365 5 355

Income not spent (savings) (14 950 - 5 365) = 9 585 (14 950 - 5 355) = 9 595

R19 180 (9 585 + 9 595)

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TASK 2.6

Budget Evidence

Ensure instructions have been followed correctly. Advertisements could come from newspapers, magazines or the internet, and shopping till slips/receipts can be used too.

Checklist

Criteria Yes Sort of No

Has the learner used relevant advertisements and evidence in the attachment?

2 1 0

Has the learner replicated these expenses in the budget? 2 1 0

Has the learner calculated the Net Salary correctly? 4 2 0

Has the learner calculated the total expenses correctly? 4 2 0

Has the learner calculated the savings correctly? 4 2 0

Has the learner delivered the work both timeously and neatly? 2 1 0

Has the learner referenced their sources of information? 2 1 0

TOTAL /20

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TASK 2.7

Aladdin’s Cave

NAME OF BUSINESS: Aladdin’s Cave MONTHLY CASH BUDGET

January February TOTAL

Sales 150 000 150 000 300 000

Rent Income 15 000 15 000 30 000

Interest Income 250 250 500

Total Receipts 165 250 165 250 330 500

CASH PAYMENTS

Trading Stock 80 000 80 000 160 000

Packing Material 2 500 2 500 5 000

Insurance 3 000 3 000 6 000

Water and electricity 4 000 4 000 8 000

Salaries 25 000 25 000 50 000

Wages 12 000 12 000 24 000

Advertising 5 000 5 000 10 000

Total Payments 131 500 131 500 263 000

Cash surplus (shortfall) 33 750 33 750 67 500

Bank: opening balance 25 000 58 750 83 750

Bank: closing balance 58 750 92 500 151 250

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TASK 2.8

Forecasting

R20 500

R19 500

TASK 2.9

Net Worth

Net worth = Assets – Liabilities

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TASK 2.10

Sipho Stores

NET WORTH STATEMENT OF SIPHO STORES ON 31 OCTOBER 20xx

ASSETS

Land and Buildings 600 200

Vehicles 350 000

Equipment 45 000

Bank 80 500

TOTAL ASSETS 1 075 700

NETWORTH AND LIABILITIES

Net worth (Equity In a business) (1 075 700 - 636 759) = 438 941

Liabilities 636 759

Creditors Control 136 759

Loan (FNB) 500 000

TOTAL NET WORTH AND LIABILITIES 1 075 700

Total the columns of the spread sheet below and answer the questions that follow.

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SPREAD SHEET TO SHOW CHANGES IN NET WORTH OF BOLT TRADERS FOR SEPTEMBER 20xx

DATE ASSETS LIABILITIES NET WORTH

Building Equipment Trading Stock

Bank Loan: Absa Bank

Jamaica Suppliers

1/9/20xx +260 000 +260 000

3/9/20xx +420 000 +420 000

5/9/20xx +24 000 +24 000

7/9/20xx -140 -140

11/9/20xx -1 900 -1 900

16/9/20xx -7 600 -7 600

18/9/20xx +8 500 -8 500

22/9/20xx -5 000 +6 200 +1 200

25/9/20xx -1 000 +4 000 +3 000

28/9/20xx -12 000 -12 000

29/9/20xx +2 100 -2 100

30/9/20xx -3 500 +7 500 +4 000

31/9/20xx -800 -800

420 000 25 100 244 660 408 000 16 400 265 360

1. (420 000+25 100 + 244 660) = 689 760

2. (408 000 +16 400) = 424 400

3. Incomes and expenses, capital and drawings

4. Owners’ Equity

5. Net worth = Assets – Liabilities à265 360 = 689 760 – 424 400 265 360= 265 360

TASK 2.11

Till Slips

Ensure the date, the item that was purchased, the business’s details and the price of the item are highlighted

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TASK 2.12

Salon Sarah

Green: Income

Pink: Expenses

Transactions:

S. Burger, the owner, deposited R50 000 into the bank account of the business as her capital contribution.

Paid R600 for a trading license by cheque 001.

Purchased equipment from Costa and Co. and paid by cheque 002, R8 800.

Rented premises from Hugo Empires for R1 300 and paid by cheque 003.

Paid Batchelor Suppliers R1 100 by cheque 004 for consumable stores purchased for the salon.

Issued cheque 005 to “The Pretoria News” for an advertisement placed, R150.

Purchased additional equipment from Perkins Stores and paid by cheque 006, R4 200.

Received R1 900 for services rendered to customers and deposited the amount into the bank account.

Paid wages by cheque 007, R120.

Paid the city council, R 700 cheque 008, for water and electricity.

S. Burger, the owner, withdrew R 120 from the bank for her personal use.

Cash received for services rendered to customers R2 300 which was deposited into the bank account on the same day.

Received R2 100 from customers for services rendered. Deposited this money into the bank account.

Questions

1. Received, services rendered

2. Paid/ issued cheque, purchased, trading licence, rented, advertisement, wages, water and electricity

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TASK 2.13

Opening a bank account

Different banks have different policies and types of savings accounts designed for specific target markets (like students, children, pensioners etc.).

E.g. What age group do you fall into?

What income bracket do you fall into?

How often do you want access to the money?

Is it going to be a short- or a long-term deposit?

Are you employed? If yes, what is your monthly salary?

TASK 2.14

Promoting Entrepreneurship

Students should demonstrate a clear understanding of what CSI is, through their discussion of their chosen business’s initiatives.

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Chapter 3: ENTREPRENEURSHIP

TASK 3.1

Entrepreneurial Mind-map

Criteria 0 - 6 7 - 15 16 - 20 Mark

Design and Presentation

Untidy and not following instructions.

Some effort, but not up to standard and/or not properly labelled.

Superb design, showing creativity and bringing across the concept well.

Mind-map as a visual medium:

Pictures, Icons, colour etc.

Incomplete or inappropriate or incorrectly classified.

Minimal effort, but basic concept is present.

Excellent effort with pictures/icons/colours which are well labelled and integrated.

Criteria 0 - 3 4 - 6 7 - 10 Mark

Following instructions:

y Handed in on time

y All sections present

y Key included

y Broad use of contacts

y Name and other details

None or only two of the instructions followed:

Three to four of the instructions followed.

All five of the instructions followed.

TOTAL /50

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TASK 3.3

Entrepreneurial Opportunities and Ideas

Assess each group individually and challenge their ideas. Let them use techniques such as brainstorming or mindmapping to come up with more ideas.

For part 2, let them list the reasons for their choice.

TASK 3.4

SWOT Analysis: Personal Organisational ability

Assess each SWOT analysis ensuring that internal factors are listed for Strengths and Weaknesses, and external (non-controllable) factors for Opportunties and Threats.

TASK 3.2

Xoli’s Game Drives

Note that this is a simple task working only with direct costs, the overhead cost of advertising is not part of the calculation as she used her savings as the investment in the business.

1. (100+75)= R175 expense

2. (50x8)=R400 income

3. (400-175)=R225 profit 4 people to cover the actual cost of one game drive (4x50=R200)

4. If students are using other countries as examples (Note that question says ‘Southern’) they may need to covert the currency.

5. Xoli can use these prices as an indication, but she has to take into consideration what they offer: things like more experienced game rangers, type of game (do they also have the big 5?), type of vehicle, and whether snacks may be included.

She also has a niche market - guests at that game lodge, so if the game drives are in demand, she can charge R50. However, she may find that guests are willing to pay more (i.e. she is undercharging) and she could add extra’s such as snacks and drinks, or even night rides and make even more profit. Any relevant aspects.

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TASK 3.6

Branding Exercise

Name the Brand: Nando’s, Cremora, Proudly South African, Apple, BMW, Capitec Bank.

Favourite Brands: Ensure that students list the brand, and that they understand that the logo is a sign or picture (e.g. Nike Tick), and the slogan a saying (e.g. Just Do It).

TASK 3.7

Individual Preferences

1. Ensure that the chosen media is suitable for the product or service, bearing in mind the cost of the product/service. For example, launching a TV commercial for an HB pencil would not be realistic or financially feasable. Encourage learners to use social media and modern marketing methods where possible.

2. Look at reasoning and ensure that students justify their choices. They may have different preferences and ideas for different products and services.

TASK 3.5

Personal Goals

Ensure the goals adhere to the requirements (specific, measurable, attainable, realistic and time related), and that they relate to high school.

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TASK 3.9

Designing a wildlife advertisement

0-1 2-3 4

Design and Presentation

Untidy and not following instructions.

Some effort, but not up to standard.

Superb design, showing creativity and bringing across the concept well.

Planning, Time Management and Preparation.

Wasting time in class, not enough progress and/or not having the correct tools.

Good use of time as well as coming to class prepared.

Excellent use of time with good progress throughout the lesson, as well as handing in on time.

AIDA Criteria

Attract Attention Not successful. Some colour, pictures and a headline of interest.

Superb point of attraction, catching the eye through colour, pictures and/or headline.

Interest Created Not successful. Very little detail or additional information given.

Excellent information which would create more interest in the product.

Desire Created Not successful. Some attempt at convincing the target market.

If YOU were a lion, crocodile, giraffe or ostrich, would this advert make you want the product?

Action Not successful. Not enough information.

Information on price and place to purchase etc. which would make it easy to access the product.

TOTAL /24

TASK 3.8

Advertising Media

1. Television- have to pay for actors, props, script writers, electricity, producers, copyrights, a slot on TV. However, with the marketing industry changing so fast, students may have other options that they can justify.

2. No, the cost depends on the size of the advert and whether it is colour or black and white and where it is placed in the newspaper, or the length of the advert if on TV.

3. Eveready batteries – posters at the shops where batteries are sold, advertisements on the packaging of the product, local retailers to include in their advertising, adverts with toys and things that need batteries... any relevant.

School production – poster, cheap, school newletters, small target market (the students and their families)

New McDonalds meal – TV advert, huge international target market of all ages

Mercedes Benz – TV advert or specialist magazine/journal, specific target market, billboards.

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TASK 3.10

Types of businesses

1. Trading

2. Trading (although there are also a lot of service type businesses).

3. Computer repair company/ technician. Service - but they may need to sell you new parts too.

4. Manufacturing

(NOTE: See if students can identify the industrial areas in their community).

5. Trading- e.g. Pick ‘n Pay, Woolworths, Toys R Us, CNA, Cardies, Edgars

Service- e.g. School, doctor, dentist, vet, domestic worker, gardener, plumber, hairdresser

Manufacturing- e.g. Bakery, butchery, dairy, plant nursery

Anything relevant.

6. Ensure the types of business are clearly indicated and that sources are referenced.

Exercise in book:Formal Sector: Advantages

○ Good supply of capital

○ Investments in land and buildings and equipment

○ Fixed/official premises

○ Standing contracts

○ Legal/ registered

○ On-going paid employment

○ Official records and documents are kept for reference

○ Contribute to the GDP

○ Employment opportunities

○ CSI/ Community outreach projects

○ Income tax is levied so the government receives income

○ Usually good quality products

○ Customer care/ guarantees

○ Security

Formal Sector: Disadvantages

Expensive/ large amount of capital required

Does not necessarily provide employment opportunities for unskilled people

Businesses have to pay tax

Reduces the likelihood of competing informal businesses succeeding

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TASK 3.11

Informal Businesses

Break into groups and see if you can define the following informal businesses. Make sure you isolate the factors that differentiate them from other, similar businesses. The first one has been done as an example:

Spaza shop Small, informal shops; mostly run from home; need-oriented (i.e. supplies essentials such as groceries); often sells products in small units (e.g. single biscuits or a cup of sugar wrapped in paper).

Shebeen Small, drinking house, most often located in black townships as an alternative to pubs and bars (developed in the Apartheid Era when segregation prevented communities from mixing and using common amenities). Shebeens provide commercial beers, homebrewed and home-distilled alcohol, music and dancing. In recent times they have become popular tourist attractions and many upmarket shebeens have been opened.

Vendor A person or company offering something for sale usually in the street. They often have a cart, caravan or awning and are normally found in the same place.

Hawker A hawker walks around selling their wares, such as the sellers on the beach, or someone that goes from house to house or to different businesses, e.g. selling lunch sandwiches.

Flea market A collection of stalls often outside or housed in one large building (like a warehouse). Products are often hand made, or fresh produce and they are more common around Christmas time when there are a lot of special markets set up.

Other: Any relevant examples.

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TASK 3.14

Health Issues

Ensure the article is correctly referenced. Article could be from internet, newspaper, magazine etc. Ensure that highlighted parts capture the essence of the article - this is an important skill in learning to summarise and break down large amounts of info by prioritizing the important parts.

TASK 3.13

Natural DisastersImpact of a Natural Disaster

Business: loss of premises, furniture and fittings, stock, vehicles and employees. The petrol station will need to be completely cleared and cleaned and rebuilt. It will have to close down for a while and lose income during that period of time. New employees may have to be found and trained.

Families: loss of homes, cars, furniture or other assets, children/husbands/wives/relatives, breadwinners, income.

Specific Community - identify floods, earthquakes, fires etc if appropriate in your local community, or look at the broader province.

Positives - A community coming together to help, insurance payouts enable families and businesses to get back on their feet. People often support businesses more after a disaster in order to help them make more profit.

TASK 3.12

Satisfying customers’ needs

NOTE: The question requires students to identify specific businesses that they support, not just a general discussion, which was covered previously.

Students could discuss the advantages and disadvantages of both informal and formal businesses, and look at various products and services provided by each that satisfy various customer needs.

YOUR VISION IS OUR MISSION

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Economic and Management Sciences Classic for Grade 7As Grade 7 students prepare for the demands of high school, they should be introduced to the realities of the commercial world. This Grade 7 Studying EMS Classic book is CAPS aligned and lays the foundation for further studies in EMS. It highlights financial literacy, with a focus on building entrepreneurship skills that will help them increase their earning potential, irrespective of their chosen career path.

Bubbles Inside

‘Bubbles’ are short, interactive online lessons that allow learners to revise concepts and get additional examples and explanations. Simply scan the QR codes or click on the active links in the eBook version.

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Introducing bubbles