Topic: Economic Systems

This unit is based on an understanding of the needs and wants of the people , the ability of individuals to
obtain what they want , and the ability of countries ( economies) to meet the needs of the people and
the economy.
For a government to attempt to overcome its economic problem, there has to be an understanding of
what is required by individuals, businesses and the country as a whole in order to meet these needs.

Learners need to understand other relationships that exist between needs and wants and the ability to
overcome the economic problem with the resources available.

What should they learn- SKVA

In this website, learners will acquire the following:

1. Skills
Learners will be assessed on whether they can:
 Collect / Process Information obtained and read on
this website.
 Analyze / Interpret data on how needs and wants
create an economic problem for individuals, societies
and countries.
 Compare how different countries try to solve their
economic problem.
 Form a link between the benefits technology brings
to business and the economic growth of a country.
 Able to apply what have been read to real life
situations.
 Investigate how people work in the world in order to
earn money to overcome the economic problem.
 Find out about how South Africa tries to solve her
economic problem.

2. Knowledge
Learners will learn:
 What is economic system; understand the definition of economic problem and
economic growth.
 Understand the meaning of vocabulary associated with economies and the
economic problem.
 Explain how different economic systems address the economic problems.
 Which countries practice these type of economic systems
 How different countries are affected by these different economies.
 Appreciate the importance to South Africa of trade partners.
3. Attitudes and values
Learners will:
 A change in behavior as to how they view economic systems.
 Able to demonstrate knowledge and understanding of the economic systems
within the context of the economic problem.
 Value the type of economic system used in South Africa.
 Reflect on how countries benefit using their chosen economic system s to
their best.