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EMS is about various governmental, economic, and business-related topics. The year begins with a revision of topics from grade 7 such as traditional societies, bartering, types of money, and banking. We then dive into the roles and levels of government and government expenditure, tax, accounting, as well as the impact of development on the environment, unemployment, and productive use of resources.
Students are provided with a foundational understanding of how to maximise profits through the effective management of resources. The ways in which private, public or collective resources are used to meet people’s needs and wants and how they can be exploited, are also critically reflected on. Expand your financial literacy, entrepreneurial skills, personal development, and development of the community through core business and governmental management principles.
Entrepreneurs are job makers that take a financial risk to create employment for themselves and others. This lesson looks at the characteristics, distinctive qualities and skills of successful entrepreneurs and concludes with factors of production.
The government established the Basic Conditions of Employment Act 1997 to regulate fair employment practices including that the employees of a business have the right to be paid for their labor, the right to be treated fairly and the right to work in a safe environment.
Ownership of a business is one of the first decisions an entrepreneur has to make. They have to decide if it will be shared or solely owned. In this lesson we look at the advantages and disadvantages of soles traders who own a business on their own.
We are tackling your understanding of the cash journals of a service business. Cash journals are necessary so we can accurately record information that we see on the cash documents into the records of the business.