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Economics Grade 10 [Learner’s Version] PART1
- Course
- Economics
- Institution
- 10th Grade
Everything you need to understand economics grade 10, based on ENJOY ECONOMICS GRADE 10 LEARNER'S BOOK.
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1Writer’s background:
Rivaldo Raseruthe [Writer] is an aspiring actor, screenwriter and music-producer who is currently a
student/learner at Suncrest High, in the Vaal; “I decided to write this book to help my fellow subject
mates to have a better understanding of Economics” This book is based on [ENJOY-ECONOMICS-
GRADE10-LEARNER’S-BOOK] this is an easy to understand version of the book, it also FEATURE some
personalized information that are EASIER to understand.
Credits:
-Enjoy Economics Grade 10 Learner’s Book
-Mom & Dad
-Siblings
-Mr. Dlamini [Economics teacher]
-Friends & Classmates
What is Economics?
Economics is the study of how people provide for their needs and wants.
Needs: Something one cannot live without [water, electricity, and food]
Needs are often cheaper than our wants.
Government provides basic need to the unprivileged.
Wants: Wants are things that one can survive without [car (becoming a need), alcohol,
luxurious items]
Wants are often more expensive than our needs.
Wants are bought willingly as they don’t necessarily determine one’s life/future.
Needs are often hazardous to the environment [alcohol].
Some needs are often charged with sin tax [read public sector].
COMMON QUESTIONS:
1. D EFINE ECONOMICS.
2. D IFFERENTIATE BETWEEN A NEED AND A WANT [TABULATE].
3. LIST 3NEEDS/WANTS.
Scarcity:
Scarcity occurs when we have no/little resources to satisfy our needs and wants.
We have absolute scarcity and relative scarcity.
Scarcity does not only affect the poor nor the middle or rich class only, it affects everyone.
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