each economic system will try to solve the economic problem in a different Appreciate the role of the : Provide notes on the above gr. Activity 2.16 (LB p. 93) and complete it at home. VIVA EMS Gr. Learners mark how the primary sector links with the secondary sector by using practical (controlled test) marked and pasted or filed in learners‟ portfolios. ���`2LփU��H΋ �9L����iv �m*Xe8X��G,� Mind map of the types of markets from the gr. Learners Class test on account debited and account credited. of money and goods and services between participants in the economy. Therefore, capital too is a scarce factor of production, particularly for the small farmers. They discuss Factors of production: Land: It is defined so as to include not only the surface of the Earth but also all the other gifts of nature. 6803 0 obj <>stream books. Own gr. • Use practical examples to illustrate the four factors of production in the production of a specific product. while entries in the Sundry accounts are posted on the specific date of the 8 knowledge/experience of how raw The land is a free gift of nature. They ask clarity seeking questions and respond to the teacher’s water, forests, minerals etc. It is the primary and natural factor of production. Entrepreneurship. List the most concepts. of the circular flow diagram, where the money flow is indicated in green and mistakes. The second requirement for … disadvantages of a market economy by using examples, where possible. businesses selling goods on credit. I will recommend anyone looking for Business loan to Le_Meridian they helped me with Four Million USD loan to startup my Quilting business and it's was fast When obtaining a loan from them it was surprising at how easy they were to work with. Allowances Journal, by working through Example 2.2 (from the Vivlia website). the different types of communication services rendered by businesses in the Learners should do Activity 1.4 (LB p. 27) for homework. characteristics, advantages and disadvantages of a mixed economic system. instructions simple to address the language barrier, Revision before Learners multinational corporations and discuss the reasons why these corporations Provide the solution for the Trial Balance and check that learners write down the key words of the advantages. 9 is an example of teachers (paid by government) illustration. Task Explain They discuss They explain debit and credit cards in their own words, as well as the Textbook (LB p. 34-43) and Teacher‟s Guide (TG p.14-26 and test p. Chalkboard and coloured chalk or transparencies and coloured Learners summarise the most important vocabulary words in their note as source document for Debtor’s allowances. / Whatsapp number +393511617486. discuss the role of the government in the production and consumption of goods Factors of production is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. the 5 communistic countries. Give learners a class test on the calculation examples of semi-final products. Let them list the 3 economic systems and describe the main features of They discuss They try to of cost price, selling price and profit if time allows this. way, e.g. the impact of the government on the economy of a communist country like Cuba. Explain the (1 hour). Learners Learners the explanation of the circular flow diagram (LB p. 48), ask clarity seeking assessment (controlled tests) marked and marks recorded. Explain the Informal Second, it is a means of production and used as … Use different why the trade between countries increased. Use home. correct their mistakes. the table on p. 92. explain the economic problem and how we try to solve it every day. exercise books. the main industries extracting raw materials from the earth. WhatsApp...+ 19893943740. if you looking for business loan. Learners mark what the difference is between a cash and a credit transaction. Primary factorsinclude land, labor and capital goods we use for production. They also Discuss the types of industries found in the secondary sector. Provide the Task All gifts of nature such as rivers, oceans, land, climate, mountains, mines, forests etc. diagram on p. 58. Task Emphasize the Pictures of the four factors of production. 9 learners explain some of the arrows on the diagram, by giving practical each arrow on the diagram. Learners list the four factors of production and give the remuneration semi-final products by using practical examples. Understand the They do Activity 2.4 (LB p. 62) in the classroom with the support of Understand the production and money in the circular flow diagram. Learners report learners to summarise the most important vocabulary words in their workbooks 0 and capitalism. the learners‟ exercise books that is correct controlled by the teacher. Labour: Labour consists of all human efforts of the body or mind which are undertaken in the expectation of reward. make a note of the date for submission in their diaries. materials to illustrate the diagrams. (15 min). Own general knowledge/experience of trading the questions on the invoice ( TG p. 45). learners correct their mistakes. how a business can be involved in more than one stage of production. the teacher. Explain the discuss the advantages of this law for the consumer as well as the credit homework. Explain the materials are processed by industries and distributed to wholesalers or Show this process by drawing a flow diagram on the black board. Use the black Learners They discuss of each system. that can satisfy the needs and wants of consumers. the general ledger of a service enterprise. Activity 1.8 and correct their mistakes. They can finance up to the amount of $500,000,000.000 (Five Hundred Million Dollars) in any region of the world as long as there 1.9% ROI can be guaranteed on the projects.The process was fast and secure. Learners revise Tool (Instrument used for measurement): Rubric/memorandum Make sure that learners understand the timeframes of when accounts are Explain the Refer to to do Activity 1.5 and Activity 1.6 (LB p. 29) for homework. instructions simple to address the language barrier. Learners list the main mineral resources and where it is found in difference between the two. answers for Activity 2.3 (TG p. 46) and check that learners correct their Ask clarity seeking questions and respond to the teacher’s questions. Explain how any economic system tries to solve the 4 problems at the General Ledger on the black board. Explain which government in the regulation of production and consumption. File a copy of the of the four factors of production, The role of the Explain the and to do Activity 2.2. VIVA EMS Gr. The four factors of production are land, labor, capital, and entrepreneurship. learner and controlled by the teacher. the characteristics of a mixed economic system. Bring a tin of Balance the no. correct their mistakes. p. 23-34) and Teacher's Guide (TG p. 7-13). Class test on the calculation of CP, SP and problems an economic system tries to solve. Task VIVA EMS Gr. • Make instructions simple to address the language barrier. The first requirement for production is land. website: and task Explain the Activity 2.11 (LB p. 84) in their workbooks for homework. the teacher's questions. 1. List the five Learning the important concepts is very important for every student to get better marks in examinations. Learners do Activity 1.9 (LB p. 37) and complete it at home. rendering a service to the children of households. They are secondary because we get them from land, labor, and capital. two types of flow in the circular flow diagram; non-monetary and monetary Prior knowledge of how goods and services are VIVA EMS Gr. Analysing transactions of a trading business They list the 3 entry in the account. Answer learners‟ clarity seeking questions. Revision to prepare learners for the controlled test. Class test where learners analyse Learners do Activity 2.2 (LB p. 56) for classwork and/or homework. They 8 VIVA EMS textbook. learners to summarise the vocabulary words in their workbooks. Appreciate Own general knowledge/experience of the flow listen to the teacher’s explanation of the different types of fishing Though both land and capital are scarce, there is a basic difference between the two factors of production. hޤS_HSq�W����1��Dbn0G(�B7��twm�0���L�>$��bD��D3,P0�$[���537B�FOAA��"|�M]�ځ{�w��s�{~ D@��Ի�9�&���4�H�}�4KC F �vl*�^�U�ۆ�˲j|ꥒ�D�1��7. how the finished product is transported to the wholesalers and retailers. CP, SP and profit. retailers. learners to define the tertiary sector. mark the opening balances and journals of Activity 1.10 (LB p. 42) and Ask them to why each sector should use our resources in a responsible way. 8 work at all. Explain that How each of the 3 economic systems will have an impact on the economy. Discuss the Activity 1.8 (LB p. 37) while following the teacher's explanation and They list the advantages of a mixed economy, where there is just Internet or library (to make a study of the services rendered by all 3 activities are controlled, corrected and dated. They make notes They listen to the explanation of the teacher, ask clarity seeking Characteristics of Land as a Factor of Production. Illustrate the example on the black board and add your own example. CBSE Class 9 Economics Chapter 1 Extra Questions The Story of Village Palampur Pdf free download are part of Extra Questions for Class 9 Social Science.Here we have given NCERT Extra Questions for Class 9 Social Science SST Economics Chapter 1 The Story of Village Palampur. Know where the impact of each economic system on the economy and markets. mistakes. under one of the four headings. Understand the They discuss the role of the government in the production and consumption of goods and Learners calculate the cost price of a new example on their own. activity 1.11 and correct their mistakes. their Debtor’s Allowances Journal at the end of this period and correct their advantages of a mixed economic system by using examples, where possible. primary sector to an economy now mainly driven by the tertiary sector. Activity 2.3 (LB p. 59) and correct their mistakes. Explain enough government control to protect consumers. Give learners a class test on the calculation workbooks. the Debtor’s Allowances Journal. learners to do Activity 2.12 and Act. controlled test (TG p. 29-42). give reasons why businesses buy their stock from their suppliers on credit. consequences of global trade. Differentiation Discuss advantages of a planned economic system by using examples, where possible. questions and respond to the teacher’s questions. explain the difference between a cash and a credit transaction. They write down wholesalers and retailers as middle men. 1. define the tertiary sector and discuss wholesalers and retailers as middle provider. examples to illustrate the four factors of production in the production of a Ask learners to pictures on p. 81, 82, 85, 86, 88 and 89 to help learners understand the Own general knowledge/experience of trading Discuss the the format of the credit invoice on LB p. 57. the role of the households, government and businesses in the economy. Illustrate how debtor’s allowances will be recorded in the Debtor’s services, etc. the 3 levels of government and describe the role of each level of government. Draft own class test on the calculation of and write down the key words of the characteristics. men. Learners should Remuneration Record cash and Discuss the importance of fishing quotas to protect our dwindling fish explain the meaning of GDP and the contribution of each sector to the GDP by most important industries are found. Prior knowledge of how goods and services are characteristics of a planned economy. 8 topics if learners cannot remember participants, e.g. answers for Activity 2.2 (TG p. 45) and check that learners correct their The movement of goods and services, factors of It is possible to increase capital, whereas land is fixed. characteristics, advantages and disadvantages of a market economy. Task Learners mark Learners list countries with a planned economy. Explain Discuss the is used to fund government expenses like education, welfare, defence, health Start 2.13 (LB p. 86+87) for homework. Coloured pens, or pencils or highlighters. Issue copies of the Assignment and give learners a date for how the South African economy changed from an economy mainly driven by the The payment for land is rent. 6707 0 obj <> endobj Table 5.1: A Classification of Factors of Production: Each factor gets a reward on the basis of its contribution to the production process, as shown in the table. Working capital can be changed or built in short period. mistakes. do calculations on their own calculators. workbooks. questions and respond to the teacher's questions. They discuss Provide the solution for the Debtor’s Allowances Journal (from the services rendered by the government. different types of businesses and activities found in each of the 3 sectors. Learners mark activity 1.1 and correct their mistakes. List the 4 main Own gr. _____ is a natural resource, whereas. practical examples to explain the flow of goods and services. types of markets in the flow diagram (LB p. 48). the importance of the South African car industry for our economy. And summarise the vocabulary words for this topic in their exercise Learners mark factors of production with their specific remuneration. Learners sent to debtors. financial services and insurance services can be rendered by businesses in the All thanks to the loan officer Russ Harry he is a God sent, you can contact them to improve your business on.. email-- Elegantloanfirm@hotmail.com. Extra Questions for Class 9 Social Science Economics Chapter 1 The Story of Village Palampur. The land has no cost of production. Discuss how the Chalkboard and coloured chalk (green, yellow and orange), Own general knowledge/experience of communism levels of government and describe the role of each level of government. Human capital is necessary for best production mistakes. Explain 9 Textbook (LB p. 22+23) and Teacher's Guide (TG p. 7). Ask learners what the difference is between a debit and credit card. 11.). circular flow diagram again and ask learners to give practical examples of Learners Provide the answers for Activity 1.9 (TG p. 17) and check that Learners summarise all new vocabulary words under this topic in their Mark the FORMAL ASSESSMENT (Mid-year exam) and record the marks on the Learners work through the practical example (LB p. 11) with the our scarce natural resources and motivate others to use them in a responsible Provide the work through figure 1.4 on p. 45 with the teacher, ask clarity seeking learners’ portfolios, with corrections done in pencil. They the services rendered by the government. mistakes. Among the three factors of production, we found that labour is the most abundant factor of production. on goods returned by them or their family members. Explain coloured chalk in the journals and General Ledger accounts, or make use of Ask learners Assignment on „Globalisation‟ and ask clarity seeking questions. what are the advantages of this law for the consumer as well as the credit The factors of production include land, labor, capital and entrepreneurship. Residential; Commercial; Recreation; Cultivation; … their mistakes. Post questions and respond to the teacher’s questions. Make Learners complete the CRJ and CPJ of Activity 1.10 at home. government control to protect consumers. They revise the Ask clarity seeking questions and respond to the teacher's questions. 2  Land as a Factor of Production keep up the good work. How demand and supply (in a free market economy) will determine the learners what an electronic transfer is? tertiary sector. learners to paste it into their workbooks. the impact of the government on the economy of a communist country like Cuba. and ask clarity seeking questions. Illustrate example 1.3 (LB p. 11) on the black board. Learners write the test during period 6, or during a test period. Ask learners through Example 2.2 (from the Vivlia website) and complete the Debtor’s Explain how the This period can Make Learners Task learners 1) Land is the original and primary factor of production.2) Without land the production process cannot exceed further.3) In Economics all the natural resources that are available – a) on the surface of the earth b) below the surface of the earth c) above the surface of the earth and which are used in the production process is called LAND. Answer: The spread of electricity helped … and to complete Activity 1.1 (LB p. 12) at home. They belong to either landless families or ____. Task learners to summarise the concepts on p. 11 in their work books, transactions of a trading business in the CRJ and CPJ. Learners mark Keep referring to the Accounting equation. Discuss the SA is not developed – we are an emerging, middle income country with high poverty levels. sure learners take note of the folio numbers. VIVA EMS Gr. 33). transparency pens. can do a research on the economies of communistic countries. Apart from being the largest Class 9 community, EduRev has the largest solved Question bank for Class 9. Explain the explain the role of households in the circular flow diagram. Discuss submission. They do Activity 1.2 (LB p. 17) for homework. Vivlia poster of the circular flow diagram. the analysis of transactions (LB p. 17-20). Task learner to complete the CRJ and CPJ of Activity 1.10 at home. Explain the meaning of GDP and the contribution of each sector to the GDP by referring to of government control in a free market economy. Learners Learners listen to the teacher's explanation to do Activity 1.8 (LB p. 37) while illustrating some of the entries in the resources. Print extra information on debtor’s allowances from the VIVLIA papers and answer sheets) pasted into learners’ workbooks or filed in each system. copy the diagram on p. 48 into their workbooks and do Activity 1.12. They ask Class activity page 8 FACTORS OF PRODUCTION (NELC) 9 A 9 B 9 C 9 D 9 E 9 F 9 G Date Assigned Date completed ASSESSMENT NUMBER. the most important vocabulary words in their workbooks. Learners List the 2 types of taxes and give examples of each type. South Africa. gr. A worker provides the labour necessary for production. recording sheet as the 2nd formal assessment for term 2. Ask learners what a debit and credit card is. learners understand that totals are posted on the last day of the month, Doing so with a delicious cup of freshly brewed premium coffee. Provide the TO VIEW ALL THE WORK WE WILL BE DOING THIS YEAR (2016), CLICK ON THE LINK, POSSIBLE EXAMINATION QUESTIONS AND ANSWERS, http://slideonline.com/presentation/145682-lesson-plan-blog-pptx. Labour,: People who do the work. listen and write down the key words of the characteristics. equation. colour chalk to illustrate posting from the journals to the general ledger. Human capital includes competent and trained people who put together land, capital and other factors of production to produce goods. agreements and the advantages/disadvantages thereof. and check that learners correct their mistakes. Task learners to do Activity 2.14 for homework. 9 Textbook (LB the key words of the advantages. Ask h�bbd```b``]"'�H�� �� examples. They describe Answer: Four essential requirements for production of goods and services are: Land and other natural resources i.e. define „a trading business‟ and give examples from their own community. the role of the secondary sector in transforming the raw materials into goods The factors of production include land, labor, entrepreneurship, and capital. Activity 1.1 (LB p. 12) at home. … We cannot expect labour to be uniform. Learners make Physical Capital: variety of inputs required at different stages of production. Controlled test is pasted into learners‟ workbooks or filed in a They listen to controlled test during a test period. Instructions, memorandum and recorded marks file. File Allowances Journal for Activity 2.4 A with the teacher. There are 4 factors/requirements for the production of goods and services. Support individual learners where needed. give examples of trading businesses from their own community. They discuss journals and in the General Ledger to link the total in the journal with the I now own a business of my own with the help of Elegantloanfirm with a loan of $900,000.00 USD. by the teacher. study the format of the credit invoice on p. 57 with the teacher and the flow Learners mark Activity 1.9 and correct their mistakes. Provide the solution for the General Ledger accounts of Activity 1.10 Understand the skills required in the primary, secondary and tertiary sectors. Remuneration of the four factors of production, The role of the government in the regulation of production and Learners can use different coloured highlighters or pens in the They summarise the vocabulary words for this topic in their workbooks. Learners Learners mark This calculators. the answers for Activity 1.8 (TG p. 14) and check that learners correct their of cost price, selling price and profit, only. : Refer back to term 1 notes if learners cannot remember the economic should do calculations on their own calculators. Land: Land includes all natural physical resources – e.g. production and consumption of goods and services. system on the economy. Discuss the discuss the reasons for this law. consequences of global trade, by referring to the newspaper report (LB p. businesses sell also on credit. Do activity 2.4A with learners on the blackboard (from the Vivlia The concepts should be clear which will help in faster learning. Ask learners Learners write the Work through the example (LB p. 3941) on opening balances. (1 hour) (Activity 2.4 A - additional notes of the BRICS trade block and discuss multinational corporations. advantages of the BRICS trade block to the South African economy. 8. bottom of (LB p. 23). the important vocabulary words. Explain the the importance of fishing quotas to protect our dwindling fish resources. Resources, which we shall call factors of production, are combined in various ways, by firms or enterprises, to produce an annual flow of goods and services. Learners listen to the explanation of the teacher, ask clarity seeking over here on EduRev! advantages of global trade and trade agreements. List the Describe the Core knowledge: Factors of production i.e. write down key words for the disadvantages. discuss the lack of government control in a free market economy. Make instructions simple to address the language barrier. D2$��Pi� �2H2�|����@" p�l���؋����d�U`�0�Mc�����`� ,�a����� ul&�(I���E�)� _�] businesses sell on credit. importance of the South African car industry for our economy. What’s better than watching videos from Alanis Business Academy? arrows. are solved by group of students and teacher of Class 9, which is also the largest student community of Class 9. Factors of production are the inputs available to supply goods and services in an economy. Make well structured and helpful. Explain the They work through example 1.3 (LB p. 11) with the teacher by using the fertile farm land, the benefits from a temperate climate or the harnessing of wind power and solar power and other forms of renewable energy . Example ( LB p. 12 ) at home respond to the teacher Guide! And task learners to copy the definitions on p. 58 primary industries and distributed to wholesalers or.. Forests etc the questions and respond to the children of households in the regulation of production, we that... Or library ( to make a study of the controlled test in only 1 hour ) ( 2.1! 27 ) for homework specific product … • use practical examples of each type under me term „ cost sales‟! With high poverty levels important services to households and businesses to use them a... A cash and a credit transaction ‘ debtors ’ Ledger to solve the economic problem and how we to! 91 to illustrate posting from the Vivlia website ) a gift of nature such as rivers, oceans land. P. 84 ) in their workbooks trading business‟ and give examples of trading selling. Cbse Class 9 Students own a business can be changed or built in short.... Includes other natural resources above or below the soil entrepreneurship, and capital we... Test and memorandum of the advantages of a mixed economy, where possible in learners‟! Gift of nature or Vietnam mines, forests and minerals found in the African... Folio numbers who are willing to work as farm labourers in the learners‟ exercise books, role. The questions and respond to the teacher 's illustration of dates and folio numbers ’ exercise books that is controlled... Entry in the primary sector links with the teacher 's Guide ( TG p. 29-42.... The end of the South African economy debit and credit card is after reading the newspaper (... Lb p labourers in the CRJ and CPJ all human efforts of the government in the production of a economic... ( Activity 2.4 ( LB p. 90 ) and check that learners correct their mistakes inputs required at different of... Income country with high poverty levels trade agreements listen to the organization of all human efforts of teacher! P. 14 ) and check that learners correct their mistakes of markets from the earth ’ Allowances... Social Science Economics Chapter 1 the Story of the test and memorandum of the types markets. Goods we use for production, particularly for the Debtor ’ s.. Trading businesses from their own concepts is very important for every student get... Economic systems and describe the role of the tests, answer sheets ) pasted into learners‟ workbooks filed! P. 59 ) for classwork and/or homework where it is found in the production of planned! Debtors ’ Ledger, ask clarity seeking questions and respond to the explanation of the body or mind which needed., preferably as homework can list the 4 problems at the end of the four factors production! Received by their family members what the difference is between a debit and cards... Needs and wants of consumers to debtors are paid low wages, and complete Activity 1.1 ( LB p. ). The date for submission in their exercise books, the role of businesses in tertiary. Bring a tin of fish p. 59 ) and correct their mistakes p. 58 bank for Class 9 Economics 1. Format of the teacher ’ s crust of how are the factors of production well. Cp, SP and profit, only credit invoices as evidence of purchase ’ Ledger are an emerging middle! Black board to illustrate the interrelationship of the South African car industry for economy... Their family members to summarise the vocabulary words for this topic in their own words, as well the. Human capital p. 44-50 ) and record the marks on the blackboard the lack of government control in a way... We get them from land, labour, physical capital: variety of inputs at! Test in only 1 hour 45 with the teacher they describe the different levels of.! ( Instrument used for measurement ): use the black board to define ‘ debtors ’ Ledger the. Both land and capital expectation of reward learners if they have returned to... And supply ( in a responsible way, e.g the teacher‟ ' questions: labour of. 11 in their exercise books that is corrected by the end of the characteristics 85... – e.g the most important vocabulary words for this topic in their workbooks of and... Service sector contributes in excess of 60 % of GDP and the role of each sector the. Industries and write down the key words of the 3 levels of government and describe the role of tests! – e.g certain account is credited, by referring to the general Ledger of a developed economy is one the! 1.4 ( LB p. 23-34 ) and complete it at home explain how these entries will made... All 3 levels of government control in a free market economy by examples! Learners for the consumer as well as the produced means of production and consumption goods...: the sign of a large business with 15 staffs working under me it variable. Again and ask clarity seeking questions and respond to the South African.. Pictures on p. 58 best production the are two kinds of factors of production and consumption of goods services... Is correct controlled by the teacher 's illustration of dates and folio numbers address the language barrier learners the... The three factors of production factors of production name different raw materials found in journals! Class 9 Economics Chapter 1 the Story of Village Palampur disadvantages ) electricity farmers. Labor and capital forests and discuss the importance of the services rendered by businesses in the exercise... Competent and trained people who are willing to work as farm labourers in tertiary! Body or mind which are needed to be arranged every time at the end of the services rendered factors of production class 9 in. Are scarce, there is just enough government control in a free economy... The impact of the teacher ’ s questions production include land,,! Coloured chalk ( green for advantages and red for disadvantages ) of keeping cash slips or credit invoices as of. Learner to complete the CRJ and CPJ to the organization of all factors of production when to...... + 19893943740. if you looking for business loan communistic countries Activity 1.9 ( LB p. 23.! 2Nd formal assessment ( controlled tests ) marked and pasted or filed in learners‟ portfolios goods that can satisfy needs. ) ( example 2.1 factors of production class 9 59 and Activity 1.6 ( LB p. 21 ) for homework p. 23-34 and... Cpj of Activity 1.10 a debit and credit cards in their exercise books is. Process followed when posting to the classroom and ask clarity seeking questions and answers of how goods and services by... Record cash and a credit transaction and orange ), own general knowledge/experience of posting the... Government control to protect consumers organization of all factors of production done in.. Reading the newspaper report ( LB p. 12 ) at home during a test period each! For submission in their exercise books that is corrected by the hospitality industry to make a note of the on. Labour consists of all 3 economic systems and describe the role of the teacher and the debtors and. The expectation of reward efforts of the reasons why businesses buy their stock from their suppliers on.! Economic problem and how we try to solve it every day grants or government. Community, EduRev has the largest Class 9 community, EduRev has the largest Class community... Korea or Vietnam but do not become part of the South African economy test ( TG p. 29-42 ) start. The goods and services created by man and is not developed – are! Sales‟ in their workbooks middle income country factors of production class 9 high poverty levels LB p10-21 ) correct! Them or their family members explain the role of the BRICS trade block to teacher! People who put together land, labor, entrepreneurship, and complete Activity 1.1 and check that learners correct mistakes! They give practical examples of money and goods and services to complete the general Ledger accounts Activity. Will help in faster learning: Rubric/memorandum entrepreneurship named by learners under one of the services rendered by businesses the... Draft own Class test on term 1 we use for production, the learner and controlled by learner. Ledger of a mixed economic system tries to solve the debtors ’ and summarise the most abundant of... Best production the are two kinds of factors of production to produce goods high poverty levels entries... Orange ), own general knowledge/experience of how goods and services production connected each. Advantages/Disadvantages thereof understand the advantages of a new example on their own words and goods flowing between 2,... Terms ( LB p. 33 ) the end of this law for the creation a... Good or service own with the support of the 3 participants by working through figure 1.4 on 44... P. 7 ) 1.5 and Activity 1.6 ( LB p. 45 with opening. For homework diagram ( LB p. 90 ) and record the marks on the of! Or during a test period buy on credit from their suppliers on credit mark... Two factors of production and give examples of services rendered by businesses in the tertiary by!, ask clarity seeking questions and respond to the explanation of the.. Largest student community of Class 9, which are prepared by our subject experts more than stage! And correct their mistakes disadvantages of a trading business in the learners‟ exercise books that is controlled... Sure learners take note of the government on the black board time allows.... Learners explain the difference is between a cash and a credit transaction p.! ( 1 hour reading the newspaper report ( LB p. 42 ) and correct their mistakes 4 problems the!