Suggested answers 1.1 Not an expense; you will get some value back if you sell it. üü


1.2 An expense; you will get no value back. üü 1.3 An expense; you will get no value back. üü


1.4 Not an expense; you will get some value back if you sell it. üü Assessment guidelines


• This activity is intended for informal assessment. • Use the suggested answers supplied above to assess learners informally. Use can assess the learners out of a mark of 8. See the suggested answers for mark allocations.


• Use the checklist below to assess learners. Give learners feedback on their performance to prepare them for formal assessment.


Criteria


The learner(s): y followed the instructions in the Learner’s Book and understood what to do y could differentiate between an expense and an asset


Activity 2 Identify personal income


Guidelines to implement this activity • This is an individual activity.


Background knowledge


Understanding of various types of income. Suggested answers 1 Occupation


A secretary gets R20 000 every month A domestic worker earns R500 per week A street hawker earns R200 per day


2 Answers will differ. Some examples: Informal business


Baking cookies Working in the garden


Type of personal income Salary üü Wages üü Sales üü


A sales representative earns R300 for every vacuum cleaner she sells Commission üü Income Expenses


Washing cars over a weekend ü Money received for washing cars üü Car shampoo, cloths, bucket üü


Money received from selling cookies Ingredients, packaging


Money received for working in the garden


Tools, petrol for lawnmower (5) Total: 13 marks Unit 2: Income and expenses 9780199052050_OS_Economics_7_TG_CAPS2017.indb 51 51 11/29/17 9:02 AM (8) Learner’s Book page 59 Yes Partly No


(2) (2) (2) (2)


Total: 8 marks


TERM 2


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