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1heme 1 ASSIGNMLN1

Lesson |anWord

SU8ILC1 LCCNCMICS GkADL 10
LLSSCN LAN NC1 Lesson |an
IIkS1 1LkM WLLk NC 1

- 1CIC ANALSING LCCNCMICS
- kL? CuLS1lCn AnAL?SL LCCnCMlCS uLSC8l8L1PL ML1PCuS Anu SL11lnC Wl1Pln 1PL
llLLu Anu l1S 8LLA1lCnSPl Wl1P C1PL8 SlLnCLS

- LLAkNING CU1CCMLS ASSLSSMLN1 S1ANDAkDS
LC 1 1he learner ls able Lo demonsLraLe
knowledge crlLlcal undersLandlng and appllcaLlon
prlnclples processes and pracLlces of Lhe
economy
Analyze economlcs descrlbe Lhe meLhods and
seLLlng wlLhln Lhe fleld and lLs relaLlonshlp wlLh
oLher sclences and lnvesLlgaLe career
opporLunlLles

- kNCWLLDGL SkILLS VALULS]A11I1UDLS
Learners wlll be able Lo
- CollecL analyses and
lnLerpreL producLlon
consumpLlon and
exchange daLa
- Acqulre an advanced
vocabulary
- And apply lL ln a
responslble and
accounLable manner
- Lxplore a varleLy of
meLhods
- Analyze and assess
Lhe lmpacL of local
and global lnsLlLuLlons

Learners wlll be able Lo
- Argue loglcally
- ulscrlmlnaLe
beLween facLs and
oplnlon
- CommunlcaLe
effecLlvely
- Make
predlcLlons/forecasL
- ConducL research
Learners wlll be able Lo
- ConLrlbuLe Lo adapL Lo and
survlve ln a complex
economlc socleLy
- Pave a crlLlcal awareness of
Lhe beneflLs of responslble
and senslLlve resources
uLlllzaLlon



- CSSl8LL LlnkS Wl1P C1PL8 Su8!LC1S P?SlCAL SClLnCLS 8uSlnLSS S1uulLS LnCLlSP
- 1LACnING LLAkNING AC1IVI1LS CCN1LN1 ICCUS
- ueflnlng economlcs
- Looklng for [obs
- ASSLSSMLN1 AC1IVI1ILS 8kILI LkLANA1ICN
- CuesLlon and answer
- WrlLLen work class work/LesLs
- resenLaLlons and reporL wrlLlng
- racLlcal
- Cral presenLaLlon
Learners are asked Lo explaln/dlscuss/exLracL
evldence from Lhe sources

- DA1A CCLLLC1ICN
ML1nCDS
ASSLSSCk ILLD8ACk
- CbservaLlon
- LlsLenlng
- CuesLlonlng
- 1eacher
- Self
- eer
1o learners and/or parenLs

- ASSLSSMLN1 CkI1LkIA (DLkIVLD IkCM ASSLSSMLN1 S1ANDAkD% 1he wrlLLen work wlll be
assessed 8aslc crlLerla
- 8elevanL lnformaLlon exLracLed from varlous sources
- 1he lnformaLlon has been organlzed ln developlng Lhe argumenL
- olnLs of vlew or perspecLlve ln Lhe sources have been ldenLlfled
- 8LSCu8CLSLLA8nL8'S WC8k8CCk nLWSAL8 ln1L8nL1









1 IN1kCDUC1ICN
Lconomlcs ls deflned ln dlfferenL ways by dlfferenL people ln Lhls learnlng unlL we are golng Lo analyses
and explaln Lhe concepL of economlcs
2 ANALSING 1nL CCNCL1 CI LCCNCMICS
ln a way of Lrylng Lo asslsL Lhe learners Lo answer Lhese quesLlons brlefly ouLllne Lhe concepL of
Lconomlcs by sLaLlng Lhe followlng polnLs
LducaLors acLlvlLy
ln order Lo begln our dlscusslon of economlcs we flrsL need Lo undersLand
1 1he concepL of economlc
2 1he meLhods of economlcs
3 1he seLLlng wlLhln Lhe fleld
4 1he relaLlonshlp of economlcs
3 Career opporLunlLles
WhaL ls economlcs? ls lL demand and supply needs and wanLs and Lhe scarclLy of resources?
lf you answered yes Lo any of Lhese quesLlon you are correcL
roducL demand consumer producLlon and caplLal form parL of economlcs
Lconomlcs aLLempLs Lo explaln how Lhe world of works and Lakes lnLo conslderaLlon how people work
1he acLlons of one person do noL have much effecL Lconomlcs concerns lLself wlLh how Lhe ma[orlLy of
people behave from Lhe pooresL Lo Lhe rlchesL
Lconom|cs |s the study of how |nd|v|dua|s bus|nesses governments and other organ|zat|ons w|th|n
our soc|ety choose to use scarce resources to sat|sfy the|r un||m|ted needs and wants

WPA1 LCLL nLLu

O lCCu
O PCuSLS
O MCnL?
O CLLL PCnLS
Iactors of product|on
- Land land and oLher naLural resources such as waLer and foresLs
- CaplLal noL necessarlly money buL all Lhe Lools of producLlon( for producLlon oLher goods%
- Labour Lhe resource provlded by all Lhe menLal and physlcal LalenLs of people eg Lechnlclan
conLracLor professor
- LnLrepreneurshlp Lhe ablllLy of cerLaln people Lo Lake lnlLlaLlve and comblne oLher facLors Lo
creaLe buslness opporLunlLles

A Descr|pt|ve e|ements
Scarc|ty refers Lo Lhe Lenslon beLween our llmlLed resources and our unllmlLed wanLs and needs lor
an lndlvldual resources lnclude Llme money and sklll lor a counLry llmlLed resources lnclude
naLural resources caplLal Lhe labour force and Lechnology
ScarclLy (llmlLed resources needs and wanLs%
8ecause all of our resources are llmlLed ln comparlson Lo all our wanLs and needs lndlvlduals and
naLlons have Lo make declslon abouL whaL goods and servlces Lhey can buy and whlch ones Lhey
musL forgo lor example should you declde Lo buy one uvu as opposed Lo Lwo vldeo Lapes (whlch
are lnferlor Lechnology% you have Lo glve up Lhe lnferlor Lechnology ln exchange for Lhe hlgher
quallLy uvu Cf course each lndlvldual9 and naLlon% wlll have dlfferenL values whlch are
deLermlned by Lhe parLlcular scarclLles wlLh whlch Lhey are faced?
So because of scarclLy people and economles musL make declslon abouL how Lo allocaLe Lhelr
resources Lconomlcs ln Lurn alms Lhese declslons and how we allocaLe our resources mosL
efflclenLly





Act|v|ty Group work
ulvlde yourselves ln a group of four
uest|ons
lnS18uC1lCnS
- ?ou need Lo do Lhls as a group
- ?ou are more Lhan welcomed Lo use lnLerneL wlLh references
- ?our Lask musL have orlglnallLy
1 Analyze economlcs
2 uescrlbe Lhe meLhods and seLLlng wlLhln Lhe fleld and relaLlonshlps wlLh oLher sclences and
3 lnvesLlgaLe career opporLunlLles
ou need to subm|t |n two days' t|me from today | need to g|ve deta||ed feedback

8 MAICk 8kANCnLS CI LCCNCMICS
ay parLlcular aLLenLlon Lo Lhe varlous branches of economlcs such as
- MoneLary economlcs role of money
- lnLernaLlonal economlcs role of counLrles looklng aL Lrade and flnance
- ubllc secLor economlcs role of sLaLe or governmenL
- uevelopmenL economlcs pollcles and acLlons
- Labour economlcs dynamlcs of counLrles labor forces
- LnvlronmenLal appllcaLlon of sLaLlsLlcal meLhods
- 8eglonal economlcs varlous geographlcal reglons Lo consumpLlon
- 8esources economlcs sLudy of naLural and human made resources


C ACACnLS CI LCCNCMICS
M|croeconom|cs looks aL speclflc economlc unlL such as a consumer or a cerLaln lndusLry
M|croeconom|cs looks aL Lhe economy as a whole or lLs baslc subdlvlslons
Comparlson of mlcro and macroeconomlcs
MlC8CLCCnCMlCS MAC8CLCCnCMlCS
1he prlce of a slngle producL
Changes ln Lhe prlce of a producL (le LomaLoes%
1he producL of malze
1he markeL for speclflc goods le bananas
1he demand for a speclflc producL le malze
An lndlvldual`s declslon as Lo wheLher or noL Lo
work
A flrm`s declslon Lo exporL lLs producL

1he consumer prlce lndex
lnflaLlon (le Lhe lncrease ln Lhe general level of
prlces ln Lhe counLry%
1he LoLal ouLpuL of all goods and servlces ln Lhe
economy
1he markeL for all goods and servlces ln Lhe
economy
1he LoLal supply of labour ln Lhe economy


Conc|us|on
Lconomlcs ls Lhe sLudy of how lndlvlduals buslnesses governmenLs and oLher organlzaLlons
wlLhln our socleLy choose Lo use scarce resources Lo saLlsfy Lhelr unllmlLed needs and
wanLs 8esources are llmlLed ln relaLlon Lo wanLs so we need Lo know how Lo work sparlngly
wlLh Lhem 8ecause man cannoL saLlsfy all hls needs and wanLs he has Lo choose whlch
needs Lo saLlsfy and whlch noL
Lconomlcs ls all abouL Lhe klnds of cholces LhaL people flrms and Lhe governmenL have Lo
make all Lhe Llme When you buy goods and servlces you are a consumer A consumer has a
llmlLed amounL of money Lo buy wlLh All consumers have Lo make cholces lor example
you have Lo choose beLween a palr of shoes and a palr of [eans lf you do noL have enough
money for boLh






ASSLSSMLn1 1LS1
lnS18uC1lCnS
Answer all quesLlons
WrlLe neaLly
uest|on 01
SLaLe wheLher Lhe followlng sLaLemenLs are mlcro or macro economlcs
1 1he deLermlnanLs of Lhe demand for lred chlcken pleces
2 1he deLermlnanLs of Lhe demand for all goods and servlces
3 Changes ln Lhe lnflaLlon raLe
4 Changes ln Lhe prlce of cold drlnks
3 1he reasons why englneers are unemployed
6 1he facLors LhaL deLermlne Lhe LoLal producLlon of goods and servlces of a counLry
(12%
uest|on 02
SLaLe wheLher Lhe followlng sLaLemenL ls Lrue or false
1 ScarclLy ls only a problem when peoples physlcal needs are noL belng meL
2 ScarclLy ls a problem because unllmlLed wanLs musL be saLlsfled wlLh llmlLed resources
3 8lch counLrles do noL experlence scarclLy
4 1he scarclLy problem has already been solved ln SwlLzerland buL noL ln Zlmbabwe
3 lf Lhe governmenL provldes free educaLlon Lo lLs clLlzens Lhere ls sLlll an opporLunlLy cosL
assoclaLed wlLh Lhe provlslon of educaLlon
(3%





uest|on 03
Match the fo||ow|ng co|umn
A 8
MoneLary economlcs 8ole of sLaLe or governmenL
lnLernaLlonal economlcs ollcles and acLlons
ubllc secLor economlcs 8ole of money
uevelopmenL economlcs uynamlcs of counLrles labour forces
Labour economlcs lmporLance of Lhe envlronmenL
LnvlronmenLal 8ole of counLrles looklng aL Lrade and flnance
8eglonal economlcs SLudy of naLural and human made resources
8esources economlcs varlous geographlcal reglons Lo consumpLlon

(16%
uest|on 04
1 ueflne economlcs (3%
2 LlsL four facLors of producLlon (4%
3 name and descrlbe meLhods of economlcs (20%

Grand tota| 60









Memorandum
uest|on 01
Statement M|cro
econom|cs
Macro
econom|cs
1 1he deLermlnanLs of Lhe demand for lred chlcken pleces


2 1he deLermlnanLs of Lhe demand for all goods and servlces


3 Changes ln Lhe lnflaLlon raLe

4 Changes ln Lhe prlce of cold drlnks


3 1he reasons why englneers are unemployed


6 1he facLors LhaL deLermlne Lhe LoLal producLlon of goods
and servlces of a counLry

(12%
uest|on 02
Statement 1rue Ia|se
1 ScarclLy ls only a problem
when peoples physlcal
needs are noL belng meL

lL also refers Lo wanLs
for oLher goods and
servlces
2 ScarclLy ls a problem
because unllmlLed wanLs
musL be saLlsfled wlLh
llmlLed resources


3 8lch counLrles do noL
experlence scarclLy
8lch counLrles also
have many wanLs LhaL
are noL saLlsfled
4 1he scarclLy problem has
already been solved ln
SwlLzerland buL noL ln
Zlmbabwe
ScarclLy exlsLs ln all
communlLles slnce
needs and wanLs are
unllmlLed
3 lf Lhe governmenL provldes
free educaLlon Lo lLs clLlzens
Lhere ls sLlll an opporLunlLy
cosL assoclaLed wlLh Lhe
provlslon of educaLlon
lL could have
provlded
someLhlng else
Lhe opporLunlLy
cosL

(3%
uest|on 03
A 8
MoneLary economlcs 8ole of money
lnLernaLlonal economlcs 8ole of counLrles looklng aL Lrade and flnance
ubllc secLor economlcs 8ole of sLaLe or governmenL
uevelopmenL economlcs ollcles and acLlons
Labour economlcs uynamlcs of counLrles labour forces ollcles and
acLlons
LnvlronmenLal lmporLance of Lhe envlronmenL
8eglonal economlcs varlous geographlcal reglons Lo consumpLlon s
8esources economlcs SLudy of naLural and human made resource
(16%
uest|on 04
1 ueflne economlcs (3%
a Lconomlcs ls Lhe sLudy of how lndlvlduals buslnesses governmenLs and
oLher organlzaLlons wlLhln our socleLy choose Lo use scarce resources Lo
saLlsfy Lhelr unllmlLed needs and wanLs

2 LlsL four facLors of producLlon (4%


a Land
b CaplLal
c Labour
d LnLrepreneurshlp

3 name and descrlbe meLhods of economlcs (20%
a os|t|ve econom|cs ls an asserLlon abouL economlcs reallLy LhaL can be supporLed
or re[ecLed by references Lo Lhe facLs lL ls used Lo undersLand Lhe behavlor and
operaLlon of economlcs sysLem raLher Lhan passlng [udgmenLs on Lhem

b Normat|ve econom|cs 8eflecLs oplnlons and values Lhereby [udglng wheLher Lhe
ouLcomes are good or bad

c 1he |nexactness of the soc|a| sc|ences 1he sclenLlflc approach Lhe meLhod of
maklng observaLlons and uslng daLa Lo formulaLe and LesL Lheorles ls used by Lhe
soclal sclences as well as Lhe naLural sclences llke physlcs and geology

d Lconom|sts often make va|ue [udgments LconomlsLs may hold dlfferenL vlews on
how Lhe economy works so Lhelr commenLs are llkely Lo be used on Lhelr own
vlews and values

e Lconom|sts have to dec|de wh|ch facts to use ueclslons made on Lhe
performance of Lhe economy depends on Lhe lnformaLlon avallable

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