• Give the learners 15 minutes to answer the questions and let one of each pair report back.
• Not all the pairs need to report back; you can decide and it depends on the time available.
• Ask pairs who did not report back if they have different, possibly valuable, input. Background knowledge
Learners need to know about investments, a retail business, and a service business.
Suggested answers 1.1 interest ü
1.2 money received from rendering a service = services rendered ü 1.3 money received from buying and selling = sales ü
1.5 expenses such as rent ü, water ü and electricity ü, trading inventory ü, stationery ü, and so on (any 3)
(1) (1) (1)
1.4 expenses such as shampoo ü, conditioner ü, water ü and electricity ü, wages ü, and so on (any 3)
1.6 Sophie does not get a fixed salary üü, she carries all the responsibility and risk üü, and has to work long hours to earn enough to cover business expenses and her own cost of living üü. Any valid explanation along these lines. 1.7 Any valid explanation which takes account of all the factors. üü
Assessment guidelines
• This activity is intended for informal assessment. • Use the suggested answers supplied above to assess learners informally. • Use the checklist below to assess learners. Give learners feedback on their performance to prepare them for formal assessment.
Criteria
The learners understand: y how to invest money y how to begin a service business y how to begin a retail business
Activity 5 Calculate profit or loss Guidelines to implement this activity
Learner’s Book page 54
• This is an individual activity. • Let the learners complete the activity and give one learner a chance to write the answers on the board.
• Show the learners how you will allocate marks if they were doing an exam paper. Background knowledge
The learners need to know what income, expenses, profit, and loss are. Unit 1: Accounting concepts
9780199052050_OS_Economics_7_TG_CAPS2017.indb 47 47 11/29/17 9:02 AM Yes Partly No (3) (3)
(4) (2)
Total: 15 marks
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