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Economic and management sciences

Grade 9

The economic cycle

Module 3

The economic cycle and markets

Activity 1: economic cycle

SELF:

Draw your own version of the economic cycle so that both the participants and the flow are clear. Insert the diagram on a separate sheet.

Activity 2: market for factors of production

GROUP:

Classify all the factors of production factors that will be available on the market for factors of production and indicate what remuneration will be paid to each.

  1. FACTOR OF PRODUCTION
  2. EXAMPLE
  3. COMPENSATION

Activity 3: market for consumer goods

GROUP:

Classify the products that are traded on the market for consumer goods. Give two appropriate examples in each case.

  1. TYPE OF PRODUCT
  2. EXAMPLES

In a “closed” economy the STATE also plays an important role, seeing that the state is also a consumer (e.g. state hospitals that purchase food products and medical supplies on the market for consumer products). In addition, the state is also a producer (hospitals supply medical services to consumers).

Furthermore, the consumers pay taxes to the state and from these “funds” certain services that are of national interest are delivered, for example education and police services. In this way, when the state pays for the use of the services of the factor of production, for example salaries, the “tax money” flows back to the consumers.

Activity 4: economic cycle that includes the state

SELF:

Draw your own version of the economic cycle (that includes the state) so that both the participants and the flow are clear. Insert the diagram on a separate sheet.

Activity 5: services offered by the state [lo 1.1]

GROUP:

Classify the services that are delivered by the state and give appropriate examples of each:

  1. SERVICES DELIVERED BY THE STATE
  2. EXAMPLES

Assessment

Learning Outcomes (LUs)
LO 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(ASs)
We know this when the learner:
1.5 explains the different flows of money, factors of production, goods and services in the economic cycle within the South African economy;
1.6 discusses the role of the foreign sector in the economic cycle;
1.7 illustrates by means of a graph and discusses how demand and supply influence prices;
1.8 critically assesses the influence and actions (strikes and stayaways) of trade unions in general and during the apartheid era on:
  • the South African economy;
  • political, economic and social transformation;
  • labour issues;
1.9 discusses the effect of the national budget on the economy (e.g. taxation and expenditure on education, social welfare, health and security.)

Memorandum

ACTIVITY 1: The economic cycle

SELF:

Diagram illustrating economic cycle.

ACTIVITY 2: Market for production factors

GROUP:

Classification of production factors

Natural resources – Landowner - Rent

Capital - Loan from bank - Interest

Labour - Working as cabinet maker - Wages / salary

Entrepreneurial talent - Owner/manager - Profit

ACTIVITY 3: Market for consumer goods

Classification of products in market for consumer goods

  1. Durable goods, e.g. cars, furniture, equipment, etc. (long-term use)
  2. Semi-durable goods, e.g. a pen, pencil, etc.
  3. Non-durable goods, e.g. foods, fuel, etc. (once-only use)
  4. Services, e.g. medical services, etc.

ACTIVITY 5: Services provided by the state

Classification of services provided by the state

  • Ensuring security:

SAPS, SANDF, Correctional Services.

  • Ensuring social services:

Hospitals, pensions, schools, low-cost housing.

Regulating relations in business: Legislation with regard to labour, pollution, etc.

Financial organisation by means of the Land Bank, SARS, etc.

Research by means of the CSIR, SABS, etc

  • Supplies economic infrastructure:

Electricity, roads, traffic control, etc.

Questions & Answers

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Akash Reply
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Maciej
Do somebody tell me a best nano engineering book for beginners?
s. Reply
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
China
Cied
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
Porter
many many of nanotubes
Porter
what is the k.e before it land
Yasmin
what is the function of carbon nanotubes?
Cesar
I'm interested in nanotube
Uday
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
what is nano technology
Sravani Reply
what is system testing?
AMJAD
preparation of nanomaterial
Victor Reply
Yes, Nanotechnology has a very fast field of applications and their is always something new to do with it...
Himanshu Reply
good afternoon madam
AMJAD
what is system testing
AMJAD
what is the application of nanotechnology?
Stotaw
In this morden time nanotechnology used in many field . 1-Electronics-manufacturad IC ,RAM,MRAM,solar panel etc 2-Helth and Medical-Nanomedicine,Drug Dilivery for cancer treatment etc 3- Atomobile -MEMS, Coating on car etc. and may other field for details you can check at Google
Azam
anybody can imagine what will be happen after 100 years from now in nano tech world
Prasenjit
after 100 year this will be not nanotechnology maybe this technology name will be change . maybe aftet 100 year . we work on electron lable practically about its properties and behaviour by the different instruments
Azam
name doesn't matter , whatever it will be change... I'm taking about effect on circumstances of the microscopic world
Prasenjit
how hard could it be to apply nanotechnology against viral infections such HIV or Ebola?
Damian
silver nanoparticles could handle the job?
Damian
not now but maybe in future only AgNP maybe any other nanomaterials
Azam
Hello
Uday
I'm interested in Nanotube
Uday
this technology will not going on for the long time , so I'm thinking about femtotechnology 10^-15
Prasenjit
can nanotechnology change the direction of the face of the world
Prasenjit Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 9. OpenStax CNX. Sep 15, 2009 Download for free at http://cnx.org/content/col11074/1.1
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