Suggested answers 1


Business Example A B C D


2 Income Expenses Material cost


Water and electricity Telephone


Sundry expenses Profit


3 Income Expenses


Material cost Telephone


Sundry expenses Loss


Assessment guidelines


• This activity is intended for informal assessment. • Use the suggested answers supplied above to assess learners informally. Allocate learners a mark out of 25 and give them feedback on their performance to prepare them for formal assessment.


Activity 6 Work out budgets and savings Guidelines to implement this activity


Learner’s Book page 55


• This is a pair activity. • Let the learners work together to prepare the budget and do the calculations. Background knowledge


Learners need to know that income, expenses, and savings details are required in preparing an accurate budget to achieve financial goals.


48 Term 2: Financial literacy 9780199052050_OS_Economics_7_TG_CAPS2017.indb 48 11/29/17 9:02 AM


28 500 ü 4 600 ü 24 400 ü


–11 800 ü (6) Total: 22 marks


36 200 ü 12 400 ü 3 800 ü 18 900 ü


14 700 ü


45 700 ü –57 500 ü


(8)


Income


R250 000 R540 000 R210 000 R380 000 R310 800


Expenses R200 000 R380 000 R240 000 R275 400 R310 800


Profit/loss and amount Profit of R50 000


Profit of R160 000 üü Loss of R30 000 üü Profit of R104 600 üü


Neither profit nor loss = break-even üü (8)


86 000 üü –71 300 ü


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