THE ECONOMIC CYCLE - Sugar Labs Peoples web folders糖实验室人们的网络文件夹的经济周期.docVIP

Module Framework and Assessment Sheet Learning Outcomes(LUs) Assessment Standards(ASs) Formative Assessment Summative Assessment ASsPages and (mark out of 7) LOs(out of 7) Tasks or tests(%) Av for LO(% and mark out of 7) LO 1 We know this when the learner: the economic cycle The learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of “the economic problem.” explains the different flows of money, factors of production, goods and services in the economic cycle within the South African economy; discusses the role of the foreign sector in the economic cycle; illustrates by means of a graph and discusses how demand and supply influence prices; 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; discusses the effect of the national budget on the economy (e.g. taxation and expenditure on education, social welfare, health and security.) This module focuses on knowledge and understanding of the economic cycle in solving the economic problem. ASSESSMENT STANDARD 1.1: THE FLOW OF MONEY, PRODUCTION FACTORS AND GOODS ON COMPLETING THIS SECTION YOU WILL BE ABLE TO DESCRIBE THE FLOW OF MONEY, PRODUCTION FACTORS AND GOODS AND SERVICES IN THE ECONOMIC CYCLE OF THE SOUTH AFRICAN ECONOMY. In order for us to understand the economic cycle, we need to analyse the participants in the economy, who are naturally also the participants in the cycle: The first participants are the CONSUMERS or the HOUSEHOLDS. Consumers have certain NEEDS that have to be met in order for them to survive, namely the need for FOOD, CLOTHING, HOUSING and SAFETY. In order to satisfy these basic needs, the consumers or households will have to use or apply their means or FACTORS OF PRODUCTION. In other words, they must use / apply their LABOUR, CAPITAL, LAND and ENTREPRENEUR