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EMS GRADE 9 TERM 1 2023
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EMS GRADE 9 TERM 1 2023
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EMS Grade 9 Week 1+2AIMS OF LESSON:
Learners must be able to understand:
1. Economic systems: namely the planned economy, market economy
and mixed economy
2. The characteristics of each economic system
3. The global economy
4. The circular flow: the participants in the circular flow of a closed
economy; the flow of goods and services, money and factors of
production in the circular flow of a closed economy; and illustrated by
using a flow diagram.
RESOURCES
PAPER BASED RESOURCES:
• Textbooks
DIGITAL RESOURCES:
• https://www.thelearningtrust.org/asp-treasure-box
INTRODUCTION
Prior content knowledge: Needs, services and factors of production
Link with the next lesson: Circular flow and price theory
By the end of the lesson learners will be able to:
, • Understand the three major economic systems and the circular flow.
Any terms that appear in the topic that do not form part of the learner's
normal vocabulary.
• Markets
• Economic systems
• Capitalism
• Socialism
• Traditional system
• Globalisation
• Integration
• Circular flow model
• Circulation
• Participants
• Financial institution
• Expenditure
• Consumers
• Producers
• Exchanged
• Start-up capital
• Households
• Government
• Businesses
• Interact
• Factors of production
• Goods and services
• Public goods and services
• Savings
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