Needs differ from one community to another, despite the fact that all of us have particular basic needs like food, water, clothing, shelter, etc.

Figure 1

Figure 2

To some extent, our immediate environment influences our direct needs.

Figure 3

LIST YOUR MOST IMPORTANT NEEDS

[LO 1.1]

How do the Khoi get what they need to survive? (Use your knowledge of Grade 4 history.)

Figure 4

What would you suggest as a reason for the drastic difference in your needs?

Make a list of the typical desires that each of you have (you may have to use your imagination).

[LO 1.1]

It should be clear that your needs and desires differ greatly as a result of your direct environments. What would a boy among the Khoi do with a computer when he has no electricity, for instance? You, again, would use a calabash as a decoration rather than as a container for storing water.

To earn money, you have to work. You could work for yourself (run your own business), or for someone else (your employer).

Figure 5

The cabinet-maker, Mr Logan,

works for TOP LINE CUPBOARDS

and earns a monthly salary.

Figure 6

Mrs Hill sells

from her stall and works

for herself. Her income

depends on how many

flowers she sells.

People who have specialist skills and earn good money with their skills usually earn more money than people who have no special skills. The bricklayer on the building site, for instance, who can lay 1 000 bricks neatly per day, will earn more than the person who mixes the cement and transports the bricks in a wheelbarrow.

People who have studied for many years to master certain skills usually earn good salaries.

Figure 7

Figure 8

Figure 9

A medical doctor will earn more than a nurse, for instance, but the nurse will earn more that a street vendor.

We also come across creative people who design something new, make it and then patent it. As an example of this, we can name our own Mark Shuttleworth who wrote a software package and today is rated among the wealthiest people in the world. And all of this started in his parents’ garage!

Figure 10

LO 1

THE ECONOMIC CYCLEThe learner is able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.

We know this when the learner: