1.6 The basic economic unit of a community

Economic and management sciences

Grade 5

Look before you leap

Module 9

The basic economic unit of a community

See if you can guess this: What is the basic economic unit of a community? You’re right – it is the household! Each member of the group of people living in your home has a specific role to play and function to fulfil! Each member is a role player who has to accept responsibility for certain tasks so that the housekeeping will run smoothly.

Assignment 1

Provide a brief written sketch of the role players in your family.

Assignment 2

What contribution does each of the members of your family make to the economy?

Do you realise that each member of the family buys goods and services to meet your specific needs? Everyone, therefore, is a CONSUMER.

[LO 1.1]

BACKGROUND:

What are goods ?

They are tangible objects that can be bought, e.g. groceries, bedding, furniture, cleaning agents, etc.

What are services ?

Services are intangible. They cannot be handled or seen. In the economy two kinds of services are rendered, namely:1. personal services, e.g. medical care, education, hair care, etc.2. commercial services, e.g. transport, banking, assurance, advertising, etc.

Assignment 3

Indicate which kind of service is described in each of the following instancesby placing a tick in the appropriate column:

[LO 1.1]

To be able to buy goods and services, some of the adults in your family have to provide labour (work) to generate the required funds. It is of great importance that the household is managed well to achieve a balance between income and expenditure.

BACKGROUND:

What is a manager ?

A manager is someone who is responsible for controlling something, e.g. a school, a sports team, a business. A manager is in control of people who need guidance and direction to reach their objectives.

Your parents manage their household, because they take most of the decisions for the running of the household. The basic functions of a manager involve PLANNING, ORGANISING, GUIDANCE AND CONTROL.

BACKGROUND:

What does each of these management functions involve?

Planning : the management decides what has to be done.

Organising : the management decides how it has to be done.

Guidance : the management decides how and when it has to be done.

Control : the management checks whether instructions have been carried out.

Assignment 4

Your mother is in control of preparing food in your home. Indicate the management function that she is executing alongside each description.

[LO 1.1]

Assignment 5

The class in which you are is an economic unit managed by the class teacher. Explain, in one clear sentence each, how the four management functions are applied in the classroom with regard to homework.

Planning:

Organising:

Guidance:

Control:

[LO 3.1]

Assessment

LO 1

THE ECONOMIC CYCLE The learner is able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.

We know this when the learner:

1.1 differentiates between the different levels of needs that people have, and explains how these might be satisfied;

LO 3

MANAGEMENT, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS

The learner is able to apply and demonstrate, in a responsible manner, knowledge as well as a range of management, consumer and financial skills.

We know this when the learner:

3.1 participates and demonstrates some management and leadership roles in the classroom and home in the absence of adults;

Memorandum

Assignment 1

The teacher can explain to the class what a community is (a group that belongs together / has a feeling of solidarity) and then learners can complete Assignment 1.

Answers may differ.

Assignment 2

The teacher can discuss the role played in the economy of our country by its inhabitants. Thereafter each learner can complete it individually.

1. children, parents

2. parents, domestic worker, gardener

Assignment 3

• The difference between goods and services, as well as the difference between personal and commercial services must be explained to the learners. No. 1 of the assignment can be completed as a class group and thereafter the assignment can be completed individually.

1. Personal (hair care)

2. Personal (skin care

3. Personal (education)

4. Commercial (banking)

5. Commercial (policies / insurance)

6. Commercial (transport)

Assignment 4

• The purpose of having a manager and the different management functions can be discussed with the learners. The assignment can be completed thereafter.

1. planning

2. organisation

3. guidance

4. control

Assignment 5

• Four different sentences that describe each management function can be written on the board. Each learner decides which statement is to be written next to each function and writes it down. It can then be checked.

1. The teacher decides which work is homework.

2. The teacher divides the homework into meaningful tasks.

3. The teacher explains how the work must be done and when it should be finished.

4. The group leaders check whether the homework has been written down, signed and done properly.